Export rice prices remain stable.

In An Giang province, according to updates from the Department of Agriculture and Rural Development, the prices of most rice varieties remain unchanged: OM 18 from 7,800 – 8,000 VND/kg, Nang Hoa 9 from 7,600 – 7,700 VND/kg, Japanese rice from 7,800 - 8,000 VND/kg, IR 50404 from 7,500 – 7,600 VND/kg, OM 5451 from 7,600 – 7,700 VND/kg, Dai Thom 8 from 7,800 – 8,000 VND/kg...

In An Giang 's retail market, regular rice is priced from 15,000 - 16,000 VND/kg; long-grain fragrant rice from 19,000 - 20,000 VND/kg; Jasmine rice from 17,000 - 19,000 VND/kg; common white rice at 17,000 VND/kg; and Nang Hoa rice at 19,500 VND/kg…

According to the Ministry of Agriculture and Rural Development , as of mid-May, provinces and cities in the Mekong Delta region had sown and planted 982,000 hectares out of the planned 1.48 million hectares for the 2024 Summer-Autumn crop.

Regarding the export market, Vietnamese 5% broken rice was offered at prices ranging from US$585 to US$590 per ton on May 23rd, unchanged from the previous week. A trader in Ho Chi Minh City stated that Indonesian demand for Vietnamese rice is quite high.

Meanwhile, export prices for Indian rice, the world's leading rice exporter, rose slightly this week. Thai rice prices remained close to their three-month highs, partly due to relatively strong demand from Indonesia.

Indian parboiled rice with 5% broken grains is being offered at $536-$544 per ton this week, up from $531-$539 per ton last week.

A trader in Mumbai said demand from African customers has increased slightly, due to lower Indian rice prices compared to other countries.

Meanwhile, Thai 5% broken rice was offered at $630-$635 per ton, a slight decrease from last week's $632-$640 per ton. One trader predicted that rice prices could fall after customers turned away from Thai rice due to its high price, and that prices would fluctuate for a period as the market awaited new supplies.

Agriculture Minister Abdus Shahid said that Bangladesh's rice production has more than quadrupled in the past 50 years and there is no shortage of essential food in the country. However, rice prices in Bangladesh remain high despite a bumper harvest and ample reserves.

Regarding the global coffee market, coffee prices in both domestic and international markets rose sharply again on May 25th. Robusta coffee prices on the London exchange for July 2024 delivery increased by $73 to $3,892 per ton, and prices for September 2024 delivery increased by $67 to $3,806 per ton.

Meanwhile, on the New York exchange, the price of Arabica coffee for July 2024 delivery rose 2.6 cents to 218.25 cents/lb, and the price of coffee for September 2024 delivery increased 2.55 cents to 217.35 cents/lb (1 lb = 0.45 kg).

Coffee prices in the Vietnamese market increased by 1,500 VND, bringing the price of this agricultural product to 117,000 VND/kg.

World coffee prices rebounded sharply after the previous day's deep decline. Following the significant fluctuations, the market will take a three-day break before resuming trading next Tuesday. Experts believe this is likely the reason for the lively trading session at the end of the week.

Experts also said that rainfall in Brazil is causing concern for supply, while Vietnam's upcoming crop yields are projected to decrease by up to 20%.

According to experts, farmers' demand for coffee is high this year, following a sharp increase in the price of this agricultural product. However, experts advise farmers to be aware of the law banning the import into the European Union (EU) of seven categories of goods (including coffee) originating from deforestation, which will come into effect at the end of 2024.

Source: https://doanhnghiepvn.vn/kinh-te/gia-gao-xuat-khau-duy-tri-on-dinh/20240526074348217