Rice prices fell by 100-300 VND/kg, while paddy prices continued to remain stable.

Today, September 30th, rice prices in the Mekong Delta region remained unchanged. Rice prices decreased by 100-300 VND/kg. Trading was quiet this Monday morning.

According to an update from the Department of Agriculture and Rural Development of An Giang province, today's rice prices remain unchanged compared to yesterday. IR 50404 is priced at 7,100 – 7,300 VND/kg; Dai Thom 8 rice at 8,000 – 8,200 VND/kg; OM 5451 rice at 7,400 – 7,700 VND/kg; OM 18 rice at 7,500 – 7,800 VND/kg; OM 380 rice fluctuating around 7,300 VND/kg; Nhat rice at 7,800 – 8,000 VND/kg; and Nang Nhen (dried) rice at 20,000 VND/kg.

Observations in localities such as Soc Trang and Dong Thap show sluggish transactions with few buyers. In An Giang, much of the rice is of poor quality, warehouses are slow to buy, and prices have decreased slightly. In Dong Thap, warehouses are buying at lower prices, transactions are quiet, and there are few buyers.

In addition, the glutinous rice market remained unchanged compared to yesterday. Long An IR 4625 glutinous rice (dry) at 9,500 – 9,700 VND/kg remained stable compared to yesterday. Long An 3-month glutinous rice (dry) at 9,800 – 10,000 VND/kg also remained unchanged compared to yesterday.

On the rice market, prices have been adjusted compared to yesterday. Currently, the price of IR 504 summer-autumn raw rice has fallen to 10,200 – 10,300 VND/kg, a decrease of 250 – 300 VND/kg. Meanwhile, the price of finished IR 504 rice has decreased to 12,600 – 12,800 VND/kg, a decrease of 100 – 200 VND/kg.

Rice prices today, September 30th: Rice prices decreased by 100-300 VND/kg, while paddy prices continued to remain stable.

Regarding by-products, the prices of various by-products range from 5,950 to 10,000 VND/kg. Currently, the price of OM 5451 broken rice has risen to 9,600 – 10,000 VND/kg, an increase of 300 VND/kg; the price of dry rice bran has risen to 5,950 – 6,100 VND/kg, an increase of 50 VND/kg.

At retail markets, rice prices remained unchanged for individual rice varieties. Currently, Nang Nhen rice is listed at the highest price of 28,000 VND/kg; Jasmine rice at 18,000 – 20,000 VND/kg; Nang Hoa rice at 20,000 VND/kg; regular white rice fluctuating around 15,000 – 16,000 VND/kg; long-grain Thai fragrant rice at 20,000 – 21,000 VND/kg; Huong Lai rice at 18,000 VND/kg; Taiwanese fragrant rice at 21,000 VND/kg; common white rice at 17,000 VND/kg; regular Soc rice at 18,000 – 18,500 VND/kg; Soc Thai rice at 21,000 VND/kg; and Japanese rice at 22,000 VND/kg.

On the export market, Vietnam's rice export prices remained unchanged compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice was priced at US$454/ton; standard 5% broken rice at US$562/ton; and 25% broken rice at US$532/ton.

The Directorate General of Foreign Trade – Ministry of Commerce and Industry of India has signed a decision to lift the ban on the export of non-basmati white rice from September 28th. The condition is that the minimum export price for this commodity is set at $490 per ton.

Previously, India had gradually eased its rice export restrictions, such as reducing the export tax rate on parboiled rice, brown rice, and raw rice from 20% to 10%, effective September 27th. The country also relaxed and subsequently abolished the floor price policy for basmati rice to facilitate access for this premium product to lucrative markets such as Europe, the Middle East, and the United States.

Before restricting its participation in the rice export market, India was the world's number one rice exporter, accounting for up to 40% of the market share. Therefore, its policies are expected to have an impact on global rice trade.

According to statistics, in the first eight months of this year, Vietnamese businesses exported 6.06 million tons of rice, earning $3.792 billion – an increase of 4.72% in volume and 20.54% in value thanks to higher export prices. Therefore, Vietnam does not need to worry about inventory levels from now until the end of the year, as only the autumn-winter crop remains, with low production and a forecast of low yields due to flooding.

By mid-September 2024, Vietnam's total rice exports reached nearly 6.5 million tons, valued at over $4 billion. The forecast for the whole year is for Vietnam to export over 7 million tons of rice.

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