Paddy prices increased slightly; milled rice prices decreased by 50 VND/kg.

Today, August 22nd, rice prices in the Mekong Delta region adjusted slightly upwards for paddy rice. Rice prices decreased slightly by 50 VND/kg.

Observations in localities across the Mekong Delta today indicate slow demand for rice. Transactions for all types of dried rice are slow, with many buyers ceasing purchases due to excessively high prices, which are trending downwards.

Giá lúa gạo hôm nay 22/8/2024: Giá lúa tăng nhẹ ; giá gạo giảm 50 đồng/kg

Rice prices today, August 22, 2024: Paddy rice prices increased slightly; milled rice prices decreased by 50 VND/kg.

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 rice is fluctuating around 7,800 - 8,000 VND/kg; Dai Thom 8 rice is priced at 8,400 - 8,600 VND/kg, an increase of 100 VND/kg; OM 5451 rice is priced at 8,200 - 8,400 VND/kg; OM 18 rice is priced at 8,500 - 8,700 VND/kg; OM 380 rice fluctuates from 7,800 - 8,000 VND/kg; Nhat rice is at 7,800 - 8,000 VND/kg and Nang Nhen (dried) rice is at 20,000 VND/kg.

In addition, the glutinous rice market saw some adjustments compared to yesterday. IR 4625 glutinous rice (fresh) is priced at 7,500 - 7,650 VND/kg, down 50 - 100 VND/kg compared to yesterday. An Giang glutinous rice (fresh) is priced at 7,000 - 7,200 VND/kg, unchanged compared to yesterday.

The rice market in localities across the Mekong Delta today generally sees low supply, slightly lower prices, and cautious purchasing by warehouses.

Regarding rice, prices have been adjusted compared to yesterday. Currently, raw IR 504 summer-autumn rice is priced at 11,500 - 11,600 VND/kg, a decrease of 50 VND/kg; finished IR 504 rice is priced at 13,550 - 13,650 VND/kg, also a decrease of 50 VND/kg.

By-product prices today remain unchanged compared to yesterday. Currently, the price of OM 5451 broken rice is at 9,400 - 9,600 VND/kg; the price of dry rice bran is at 7,150 - 7,250 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 20,000 VND/kg; Taiwanese fragrant rice at 21,000 VND/kg; common white rice at 17,000 VND/kg; regular Soc rice at 18,500 VND/kg; Soc Thai rice at 20,000 VND/kg; and Japanese rice at 22,000 VND/kg.

On the export market, rice export prices remained stable after a downward adjustment. According to the Vietnam Food Association, the price of 5% broken rice remained stable at 585 USD/ton; 25% broken rice maintained its price at 558 USD/ton; and 100% broken rice remained stable at 485 USD/ton.

Recently, Vietnamese rice prices have been trending sharply upward, surpassing even those of Thailand and Pakistan. Specifically, last weekend, the export price of 5% broken rice from Vietnam was traded at $575/ton, $14/ton higher than similar rice from Thailand and $34/ton higher than rice from Pakistan.

Currently, the summer-autumn rice crop in the Mekong Delta is entering its final stages, and the amount of rice remaining in the fields is dwindling. Due to heavy rainfall, the quality of rice is not as good as in the winter-spring crop, making export-quality rice more expensive. According to rice trading businesses, this is also the reason for the high price of exported rice.

According to Tan Long Group JSC, harvesting in the Mekong Delta is facing difficulties due to weather conditions, which reduce the quality of rice. When milled, the rice is not white, and the recovery rate after processing is lower, posing many challenges for this summer-autumn crop.

Another important factor contributing to the increase in rice prices is the Philippines' reduction of import duties from 35% to 15%, encouraging businesses in the country to increase rice imports. However, with the summer-autumn harvest nearing its end and the upcoming autumn-winter harvest not being the main harvesting season, a supply shortage is occurring.

Vietnamese rice export prices have reached record highs in many international markets. In Brunei, the price reached $959 per ton, while in the US it was $868 per ton. Other markets such as the Netherlands, Ukraine, Iraq, and Turkey also recorded high prices for Vietnamese rice, making Vietnam the country with the highest rice prices among the world's leading exporters. 2024 is marking a significant turning point in Vietnam's rice export industry, with export prices reaching record levels, and new records expected in terms of export volume.

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