Rice export prices increase again after many sharp declines
In the Mekong Delta region, prices of paddy and rice fluctuated in opposite directions. According to the update of the Department of Agriculture and Rural Development of An Giang province on the morning of September 13, OM 18 rice was priced at VND8,000 - 8,100/kg, down VND100/kg. Prices of other rice varieties remained stable.
Currently, Dai Thom 8 rice is stable at 8,000 - 8,200 VND/kg; OM 5451 is priced at 7,700 - 8,000 VND/kg; Nang Hoa 9 is priced at 8,000 - 8,400 VND/kg; IR 50404 rice is stable at 7,800 - 8,000 VND/kg; Nhat rice is 7,800 - 8,000 VND/kg. For sticky rice, An Giang dry sticky rice is priced at 9,200 - 9,400 VND/kg; Long An dry sticky rice fluctuates at 9,300 - 9,450 VND/kg.
Regarding rice, today’s rice prices continued to extend the downward trend. Accordingly, IR 504 raw rice fluctuated around 11,700 – 11,800 VND/kg, down 100 VND/kg; IR 504 finished rice was at 13,700 – 13,800 VND/kg, down 200 VND/kg.
For by-products, the price of by-products is also adjusted down by 100 VND/kg.
In the domestic rice market, prices of all types of rice tend to decrease. In Dong Thap and An Giang, prices of all types of rice decreased by 100-200 VND/kg. In retail markets in An Giang province, rice prices are stable and unchanged.
Of which, glutinous rice costs 16,000 - 20,000 VND/kg; regular rice costs 12,500 - 14,000 VND/kg, Nang Nhen rice costs 23,000 VND/kg; long-grain Thai fragrant rice ranges from 18,000 - 20,000 VND/kg; Jasmine fragrant rice costs 16,000 - 18,500 VND/kg; Huong Lai rice costs 19,500 VND/kg; common white rice costs 15,500 VND/kg...
According to the Vietnam Food Association (VFA), in the trading session on September 12, Vietnam's rice export price was adjusted up by 5 USD/ton. Accordingly, the export price of 5% broken rice was at 628 USD/ton; 25% broken rice was at 613 USD/ton. Statistics show that in the past 8 months, countries in Asia, the Middle East, and West Africa rushed to buy nearly 6 million tons of Vietnamese rice despite the high price.
VFA said that many countries in the world have increased their imports of Vietnamese rice due to a shortage in the world market. In particular, in the past 3 months, the amount of rice exported has increased compared to the beginning of the year after India banned rice exports from July 20. A week after India's ban, the UAE and Russia both announced that they would stop selling rice abroad. Therefore, many countries have poured into Vietnam to place orders, pushing up the price of exported rice.
Rice exports grow, forecast to continue to be promoted
Over the past 8 months, countries in Asia, the Middle East, and West Africa have rushed to buy nearly 6 million tons of Vietnamese rice despite high prices. The latest preliminary figures from the General Department of Customs show that in August, Vietnam exported 921,000 tons of rice, worth 546 million USD, up 40% in volume and 51% in value compared to July.
In the first 8 months, our country exported nearly 6 million tons of rice, with a turnover of nearly 3.2 billion USD, an increase of 21% in volume and 35% in price.
The Philippines remains the largest customer, reaching nearly 1.23 billion USD, up 16%, accounting for 38.9% of total export turnover of this item. Next is China reaching 452 million USD, up 67.9% over the same period in 2023.
In addition to the above two countries, Indonesia has risen from 8th place to the top 3 countries buying Vietnamese rice with a record growth rate. In the past 8 months, this country imported 718,266 tons of rice, reaching 361.2 million USD, an increase of 1,505%.
The Ministry of Industry and Trade's forecast shows that in the last four months of this year, Vietnam's rice export situation will still be boosted by a good number of orders from many new markets.
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