Rice prices reverse course and fall.

Today, September 24th, rice prices in the Mekong Delta region have decreased for both paddy and milled rice. Currently, rice prices are fluctuating around 10,750 – 13,000 VND/kg.

In localities such as Dong Thap and Kien Giang, transactions of newly harvested rice are slow, and rice prices are low. In Can Tho , transactions of newly harvested rice are slow, with few buyers.

According to an update from the Department of Agriculture and Rural Development of An Giang province, today's rice prices have been adjusted compared to yesterday. IR 50404 is priced at 7,300 – 7,500 VND/kg; Dai Thom 8 rice at 8,000 – 8,200 VND/kg; OM 5451 rice at 7,600 – 7,900 VND/kg; OM 18 rice at 7,800 – 8,000 VND/kg; OM 380 rice fluctuating between 7,500 – 7,800 VND/kg, down 100 VND/kg; Nhat rice at 7,800 – 8,000 VND/kg; and Nang Nhen (dried) rice at 20,000 VND/kg.

Rice prices today, September 24, 2024: Rice prices reverse and fall.

In addition, the glutinous rice market has adjusted compared to yesterday. Long An IR 4625 glutinous rice (dry) is priced at 9,600 – 9,800 VND/kg, down 100-200 VND/kg compared to yesterday. Long An 3-month glutinous rice (dry) is priced at 9,800 – 9,900 VND/kg, down 100 VND compared to yesterday.

In localities such as Dong Thap and Soc Trang, rice supplies are stable, and warehouses and markets are buying regularly. In Lap Vo (Dong Thap), supplies are low, rice selection is difficult, there is little good quality rice, and prices are fluctuating.

On the rice market, rice prices have been adjusted compared to yesterday. Currently, the price of IR 504 summer-autumn raw rice has fallen to 10,750 – 10,800 VND/kg, a decrease of 100 VND/kg. Meanwhile, finished IR 504 rice is around 13,000 – 13,200 VND/kg.

Regarding by-products, the prices of various by-products range from 5,800 to 8,600 VND/kg. Currently, the price of OM 5451 broken rice is 8,500 – 8,600 VND/kg; the price of dry rice bran is 5,800 – 5,900 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 have been adjusted compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice is priced at 454 USD/ton, down 1 USD; standard 5% broken rice is at 567 USD/ton; and 25% broken rice is at 537 USD/ton.

On the world market, the price of Vietnamese exported rice is currently rising to its highest level since the end of August due to the impact of floods and heavy rains.

According to statistics from the General Department of Customs, as of mid-September, Vietnam had exported nearly 6.5 million tons of various types of rice, earning $4.06 billion. Compared to the same period last year, rice exports increased slightly by 6% in volume but sharply increased by 21% in value.

The main reason is the sharp increase in rice export prices this year compared to the same period last year. Vietnam's rice import markets remain traditional markets such as the Philippines, Indonesia, Malaysia, and China.

Mr. Do Ha Nam, Vice President of the Vietnam Food Association, said it is not easy to predict export rice prices from now until the end of the year. However, a downward trend in export rice prices from now until the end of the year is unlikely. Mr. Nam said that the amount of rice available for export from now until the end of the year is not much. Meanwhile, the Philippines is expected to import about 1 million tons of rice from Vietnam…