In An Giang province, according to updates from the Department of Agriculture and Rural Development, the prices of various rice varieties are as follows: Dai Thom 8 is priced from 9,200 - 9,300 VND/kg; Nang Hoa 9 is priced from 9,200 - 9,300 VND/kg, both increasing by 200 - 300 VND/kg; IR 50404 is priced from 8,800 - 9,000 VND/kg, an increase of 200 VND/kg; OM 18 is at 9,100 - 9,200 VND/kg, an increase of 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.
For glutinous rice, both dried An Giang glutinous rice and dried Long An glutinous rice are priced between 9,400 and 9,800 VND/kg.
In An Giang 's retail market, regular rice is priced 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 at 17,000 VND/kg; and Nang Hoa rice at 19,500 VND/kg…
Harvesting the autumn-winter rice crop in Tan My commune, Thanh Binh district (Dong Thap province). Photo: (Nguyen Van Tri/TTXVN)
Currently, localities are entering the final stages of harvesting the 2023 Autumn-Winter rice crop. In Can Tho, this year's Autumn-Winter crop mainly features high-quality and fragrant rice varieties such as OM 5451, OM 18, OM 380, and Dai Thom 8...
Thanks to selling rice at high prices and achieving relatively good yields, many farmers have earned profits more than double compared to the same period last year. Many types of fresh rice are being sold by farmers at prices ranging from 7,300 to 8,500 VND/kg, which is also a record high price in recent years.
An Giang is also entering the peak harvest season. Favorable weather conditions have resulted in high yields, and the price of fresh rice sold in the fields has reached a "record" high, at least 1,000-2,500 VND/kg higher than the same period last year. Farmers are very excited because rice prices have never been this high. The joy is doubled as the autumn-winter crop has been both bountiful and profitable.
The autumn-winter rice crop in Dong Thap is almost completely harvested, with an average yield of 60.4 quintals/hectare. High-quality rice is being purchased by traders at the field for 9,200 VND/kg, with some places selling it for 9,400 VND/kg, a price 2,500-3,000 VND/kg higher than the same period in 2022. After deducting expenses, the autumn-winter rice crop in Dong Thap yielded a profit of over 30 million VND/hectare, an increase of 15 million VND/hectare compared to the same period in 2022.
While the domestic rice market remains buoyant, rice prices in most of Asia's major rice-producing regions also rose last week. Indian export prices for parboiled rice increased due to improved market demand. However, the price increase was somewhat limited by abundant supply from the new crop.
Indian parboiled rice with 5% broken grains is quoted at $493-$503 per ton this week, higher than last week's range of $490-$500 per ton.
An exporter in Kakinada, Andhra Pradesh, said that even with a 20% export tax, Indian rice is still cheaper than rice from other countries.
Last month, India extended its rice export restrictions, with a 20% tariff on parboiled rice now in effect until March 2024.
In Thailand, the price of 5% broken rice is listed at $570-$575 per ton, up from $562 per ton last week.
A Bangkok-based trader said continued new demand from Asian customers 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 tons this year, higher than its previous estimate of 8 million tons.
Meanwhile, Vietnamese 5% broken rice is being offered at between $650 and $655 per ton. This price remains unchanged from a week ago, and domestic supply remains low.
A trader based in Ho Chi Minh City said that trading activity was sluggish because buyers were hesitant to place orders due to high prices. Regarding the US agricultural market, prices of agricultural commodities in the US market uniformly decreased on November 17th, led by corn.
At the close of trading on the Chicago Mercantile Exchange (USA), the price of corn for December 2023 delivery fell by 7.75 US cents (equivalent to 1.63%) to $4.67 per bushel. The price of wheat for March 2024 delivery also decreased by 5.25 cents (0.9%) to $5.7575 per bushel. The price of soybeans for January 2024 delivery fell by 20 cents (1.47%) to $13.4025 per bushel (1 bushel of wheat/soybeans = 27.2 kg; 1 bushel of corn = 25.4 kg).
With the upcoming US trading week shortened due to Thanksgiving and Argentina's crucial presidential election on November 19th, the market is expected to experience significant volatility.
Many investors are taking profits to enjoy their upcoming vacation in the US. Chicago-based market research firm AgResource suggests that very few people want to place new trades.
Excessive soil moisture is hindering planting in France. Rainfall in France during the last 10 days of October was 200% of normal. The UK and many EU countries are also experiencing similar weather problems to France.
The global coffee market showed that, at the end of the week's trading session, Robusta coffee prices on the ICE Europe – London exchange fell. The price of coffee for January 2024 delivery decreased by $45 to $2,541 per ton, and the price for March 2024 delivery decreased by $35 to $2,449 per ton.
Similarly, Arabica coffee prices on the ICE US – New York exchange continued to fall. The price of coffee for the December 2023 contract decreased by 5.15 cents to 170.95 cents/lb, and the March 2024 contract decreased by 4.55 cents to 166.65 cents/lb. (1 lb = 0.4535 kg).
The price of bulk green coffee beans in the Central Highlands provinces decreased by 900-1,000 VND, fluctuating between 58,700 and 59,400 VND/kg.
According to observers, coffee prices continue to fall due to liquidation pressure, with forecasts of rain in Brazil early next week. This will help improve coffee yields for the next crop, which is expected to be a bumper crop in the "two-year" cycle.
(Source: News Report)
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