Prices of paddy and rice in the Mekong Delta last week increased/decreased slightly in some types. Rice export activities not only in Vietnam but also in other countries in the region were quite quiet due to weak demand. Vietnam's rice export prices decreased slightly.
According to the Institute of Strategy and Policy on Agriculture and Environment, last week, the price of IR 50404 dry rice in Vinh Long remained at 6,600 VND/kg; Hau Giang was 8,300 VND/kg; Tien Giang was 6,500 VND/kg, down 100 VND/kg...
With OM18, in Can Tho it is 7,500 VND/kg; Soc Trang is 8,100 VND/kg, an increase of 100 VND/kg; Hau Giang is 8,600 VND/kg...
For Jasmine rice, in Can Tho it is 8,400 VND/kg; Tien Giang is 7,100 VND/kg, down 100 VND/kg...
Dai Thom 8 rice in Soc Trang is 7,700 VND/kg, down 200 VND/kg; ST 25 in Can Tho is still 9,500 VND/kg.
According to the update of the Department of Agriculture and Environment of An Giang, the price of some types of fresh rice purchased by traders such as: IR 50404 rice is from 5,300 - 5,500 VND/kg, an increase of 100 VND/kg; OM 380 rice is from 5,200 - 5,400 VND/kg, a decrease of 100 VND/kg; OM 5451 rice price fluctuates between 6,000 - 6,200 VND/kg.
Regarding rice products in the retail market in An Giang, regular rice costs from 14,000 to 15,000 VND/kg; long-grain fragrant rice costs from 20,000 to 22,000 VND/kg; Jasmine rice costs from 16,000 to 18,000 VND/kg; common white rice costs 17,000 VND/kg, Nang Hoa rice costs 21,000 VND/kg; Huong Lai rice costs 22,000 VND/kg; Taiwanese fragrant rice costs 20,000 VND/kg; Soc rice usually fluctuates at 17,000 VND/kg; Soc Thai rice costs 20,000 VND/kg; Japanese rice costs 22,000 VND/kg...
The price of IR 504 raw rice is at 8,250 - 8,350 VND/kg, IR 504 finished rice is from 9,500 - 9,700 VND/kg; OM 380 raw rice is from 7,950 - 8,050 VND/kg; OM 380 finished rice fluctuates at 8,800 - 9,000 VND/kg.
For by-products, the price of by-products of all kinds ranges from 7,150 to 9,000 VND/kg. The price of dry bran is at 8,000 to 9,000 VND/kg.
Regarding exports, according to the Vietnam Food Association, the price of 5% broken rice was listed at $396 per ton this week, down slightly from $397 last week. A trader in Ho Chi Minh City said both trading activity and demand were weak.
One of the countries importing Vietnamese rice, Indonesia, recently announced plans to stop importing rice this year due to strong domestic production growth and abundant rice reserves, helping the country confidently ensure domestic supply.
However, according to many businesses, the above move will not have much impact because the rice segment sold in the Indonesian market is the low-priced segment, and Vietnam does not have much surplus of this rice. Therefore, Indonesia's plan to stop importing rice this year is not a concern for Vietnamese rice. In addition, Vietnam has the advantage of high-quality rice that is popular in high-end markets such as the EU, the United States and Japan.
Another noteworthy move in the rice market is that India's lifting of the rice export ban has caused rice export prices in many countries to decrease. Mr. Nguyen Van Thanh - Director of Phuoc Thanh IV Production and Trading Company Limited (Vinh Long province) said that India's lifting of the rice export ban has caused rice export prices in many countries to decrease, including Vietnam. Currently, rice export prices have returned to the levels of 2020-2021 but slightly higher. This is also a reasonable price.
From now until the end of 2025, domestic rice prices will not fluctuate much compared to 2023-2024, Mr. Nguyen Van Thanh predicted.
In India, ample supplies and expectations of a bumper crop in the country pushed Indian rice export prices to their lowest since June 2023 this week.
Last week, India's 5% broken parboiled rice prices were quoted at $382-$389 a tonne, unchanged from the previous week and the lowest since June 2023, while India's 5% broken white rice was priced at $375-$381 a tonne. A trader in Mumbai (India) said the Meteorological Department has forecast above-average rainfall, which will help farmers expand rice acreage and increase production.
India on May 28 raised the price at which it buys new-season rice from local farmers by 3 percent, the lowest increase in five years, as the government struggles to control its ample rice stocks after last year’s record harvest.
Regarding Thai rice, 5% broken rice prices were quoted at $405-$410 per tonne, unchanged from last week. Traders said market demand was quiet with no major deals being made, while supplies were ample thanks to good yields from the recent harvest.
In Bangladesh, the government’s domestic rice procurement campaign is progressing slowly, despite a 9% increase in procurement prices. The move is due to higher market prices and problems with the procurement process. The program was launched on April 24, with a target of 1.75 million tonnes of rice and paddy. The procurement price for parboiled rice is 49 taka ($0.4026) per kg and paddy is 36 taka per kg.
Source: https://baoninhbinh.org.vn/gia-gao-xuat-khau-giam-truoc-suc-ep-canh-tranh-ve-gia-112595.htm
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