In An Giang, according to the update of the Department of Agriculture and Rural Development of the province, the prices of rice varieties such as: Dai Thom 8 from 9,200 - 9,300 VND/kg; Nang Hoa 9 from 9,200 - 9,300 VND/kg, both increased by 200 - 300 VND/kg; IR 50404 from 8,800 - 9,000 VND/kg, increased by 200 VND/kg; OM 18 from 9,100 - 9,200 VND/kg, increased by 200 VND/kg. Some varieties remain stable such as: Japanese rice from 7,800 - 8,000 VND/kg, OM 5451 from 8,800 - 9,000 VND/kg.
With sticky rice, dry An Giang sticky rice and dry Long An sticky rice both fluctuate at 9,400 - 9,800 VND/kg.
Regarding rice products in the retail market in An Giang , regular rice costs from 15,000 - 16,500 VND/kg; long-grain fragrant rice from 18,000 - 20,000 VND/kg; Jasmine rice from 18,000 - 19,000 VND/kg; common white rice 17,000 VND/kg, Nang Hoa rice 19,500 VND/kg...
Harvesting autumn-winter rice in Tan My commune, Thanh Binh district (Dong Thap). Photo: (Nguyen Van Tri/VNA)
Currently, localities are entering the final harvest stage of the 2023 Autumn-Winter rice crop. In Can Tho, this year's Autumn-Winter crop, farmers in the area mainly produce high-quality rice and fragrant rice such as: OM 5451, OM 18, OM 380, Dai Thom 8...
Thanks to selling rice at high prices and good productivity, many farmers earned profits more than double that of the same period last year. Many types of fresh rice were sold by farmers at 7,300 - 8,500 VND/kg, which is also a record high price in many years.
An Giang is also entering the peak harvest season, with favorable weather, high productivity, and the price of fresh rice sold in the fields has increased to a "record" level, at least 1,000 - 2,500 VND/kg higher than the same period last year. Farmers are very excited because the price of rice has never been as high as it is now. The joy is doubled when the Autumn-Winter crop has both a good harvest and good prices.
The autumn-winter rice harvest in Dong Thap is almost complete, with an average yield of 60.4 quintals/ha. Traders buy high-quality rice at the field for 9,200 VND/kg, and some places sell it for 9,400 VND/kg, which is 2,500 - 3,000 VND/kg higher than the same period in 2022. After deducting expenses, the autumn-winter rice crop in Dong Thap earned a profit of more than 30 million VND/ha, an increase of 15 million VND/ha compared to the same period in 2022.
While the domestic rice market remains buoyant, prices in most Asian "rice granaries" have also increased over the past week. Indian parboiled rice export prices have increased due to improved market demand. However, the price increase has been somewhat limited due to abundant supply from the new crop.
India's 5% broken parboiled rice was quoted at $493-$503 per tonne this week, higher than last week's $490-$500 per tonne.
Even with the 20 percent export duty, Indian rice is cheaper than supplies from other countries, said an exporter at Kakinada in Andhra Pradesh.
Last month, India extended its rice export restrictions, with a 20% duty on parboiled rice in effect until March 2024.
In Thailand, the price of 5% broken rice was listed at 570 - 575 USD/ton, up from 562 USD/ton last week.
A Bangkok-based trader said continued fresh demand from Asian buyers has supported prices. Another trader said prices could rise further due to demand from Indonesia, Malaysia, the Philippines and Iraq.
The Thai Rice Exporters Association has raised its rice export forecast to 8.5 million tonnes this year, higher than its previous estimate of 8 million tonnes.
Meanwhile, Vietnam’s 5% broken rice was quoted at $650-$655 per tonne, unchanged from a week ago as domestic supplies remained low.
A trader based in Ho Chi Minh City said trading activity was quiet as buyers were hesitant to place orders due to high prices. Regarding the US agricultural market, prices of agricultural products in the US market fell across the board on November 17, led by corn.
At the close of this session at the Chicago Mercantile Exchange (USA), the price of corn for December 2023 delivery decreased by 7.75 US cents (equivalent to 1.63%) to 4.67 USD/bushel. The price of wheat for March 2024 delivery also decreased by 5.25 cents (0.9%) to 5.7575 USD/bushel. The price of soybeans for January 2024 delivery decreased by 20 cents (1.47%) to 13.4025 USD/bushel (1 bushel of wheat/soybean = 27.2 kg; 1 bushel of corn = 25.4 kg).
With the upcoming US trading week shortened due to the Thanksgiving holiday and Argentina's crucial presidential election on November 19, markets are expected to be volatile.
Many investors are taking profits to enjoy upcoming holidays in the U.S., and few people are willing to place new orders, according to Chicago-based market research firm AgResource.
Excessive soil moisture is making it difficult to grow crops in France. Rainfall in France in the last 10 days of October was 200% of normal. The UK and many EU countries are also experiencing similar weather problems.
The world coffee market showed that at the end of the weekend trading session, Robusta coffee prices on the ICE Europe – London exchange decreased. Coffee futures for delivery in January 2024 decreased by 45 USD to 2,541 USD/ton and futures for delivery in March 2024 decreased by 35 USD to 2,449 USD/ton.
Similarly, Arabica coffee prices on the ICE US – New York exchange continued to decline. Coffee prices for the December 2023 contract fell 5.15 cents to 170.95 cents/lb and for the March 2024 contract fell 4.55 cents to 166.65 cents/lb. (1 lb = 0.4535 kg).
The price of green coffee beans in the Central Highlands provinces decreased by 900 - 1,000 VND, fluctuating in the range of 58,700 - 59,400 VND/kg.
According to observers, coffee prices continued to fall due to liquidation pressure with forecasts of rains in Brazil early next week. This will help improve the coffee yield of the next crop, expected to be a bumper crop in the “biennial” cycle.
(Source: Tin Tuc Newspaper)
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