Lowest rice price in six months

Rice prices in many western provinces decreased by 2,000 VND per kilogram, to 7,500-8,500 VND, the lowest level in the past six months.

Mr. Nguyen Van Dong (Thap Muoi district, Dong Thap province) is preparing to harvest nearly one hectare of Winter-Spring rice variety OM 5451. Last month, traders placed a deposit to buy from him at 9,100 VND per kg, but now they only agree to pay 8,300 VND.

"I took a deposit first so I got this price, many people had to sell at a lower price," he said.

Farmers in Thap Muoi district, Dong Thap province harvest the 2024 Winter-Spring rice crop. Photo: Ngoc Tai

Not far from Mr. Dong's field, Mr. Mai Van Tuan sold to traders at 7,500 VND per kilogram, down nearly 2,000 VND compared to a week before. "The rice has to be cut, waiting for the price is not an option," he shared. The price has been continuously falling over the past week, causing rice growers like Mr. Tuan to lose nearly 20 million VND per hectare.

Similarly, purchasing prices in An Giang and Kien Giang also decreased. Currently, the Western provinces are in the winter-spring rice harvest season with a sown area of ​​about 1.4 million hectares, with an average yield of 7.2 tons per hectare.

According to Mr. Nguyen Van Don, Director of Viet Hung Company Limited ( Tien Giang ), rice prices have decreased, and countries importing rice from Vietnam are buying in moderation and have not yet signed new contracts. Domestically, export enterprises have limited capital so they are also hesitant to buy when there are no new contracts.

However, Mr. Hung said that the price of 7,500-8,500 VND per kg has hit rock bottom and it is difficult to reduce it further. Because India maintains export restrictions after the election, the world supply is not abundant. Overall, this year's winter-spring crop, rice growers still make a profit because the high price has been maintained throughout the past time, with an average of 25-30 million VND per hectare, more than 40-50% of last year.

Two days ago, according to an update from the Vietnam Food Association, the export price of 5% broken rice was $609 per ton, down $19 from the previous day. Thai rice of the same grade was $611 per ton, down $3. Compared to the peak export price in early 2024, this agricultural product has dropped $50 per ton.

In 2023, the country's rice exports will reach 8.13 million tons with a value of 4.7 billion USD - a record for the Vietnamese rice industry.

Ngoc Tai

Source link: https://vnexpress.net/gia-lua-thap-nhat-nua-nam-4714900.html