Domestic stability, Vietnam's rice exports at highest level in Asia

Rice prices today, October 23, in the Mekong Delta region decreased with rice. In the export market, Vietnamese rice prices remained stable while those of Thailand and Pakistan decreased slightly.

Update from the Department of Agriculture and Rural Development of An Giang province said that today's rice price has not been adjusted compared to yesterday, IR 50404 is priced at 6,800 - 7,000 VND/kg; Dai Thom 8 rice is priced at 7,800 - 8,000 VND/kg, OM 5451 rice is priced at 7,200 - 7,400 VND/kg; OM 18 rice is priced at 7,500 - 7,800 VND/kg; OM 380 fluctuates at 7,200 - 7,300 VND/kg; Japanese rice is at 7,800 - 8,000 VND/kg and Nang Nhen rice (dry) is at 20,000 VND/kg.

Rice price today October 23, 2024: Domestically stable, Vietnam's rice export at the highest level in Asia

In localities such as Soc Trang and Dong Thap, transactions were slow, with low volume and few buyers. In An Giang, many warehouses were slow to buy, with low volume and prices slightly decreasing.

Besides, the glutinous rice market has not adjusted compared to yesterday. Long An IR 4625 glutinous rice (dry) 9,600 - 9,800 VND/kg is stable compared to yesterday. Long An 3-month glutinous rice (dry) 9,800 - 10,000 VND/kg is unchanged compared to yesterday.

In the rice market, rice prices have been adjusted compared to yesterday. Currently, the price of IR 504 Summer-Autumn raw rice has dropped to 10,500 - 10,700 VND/kg, down 50 VND/kg. Meanwhile, the price of IR 504 finished rice has dropped to 12,600 - 12,800 VND/kg, down 50 VND/kg.

Regarding by-products, the prices of various by-products fluctuate between 5,950 and 9,600 VND/kg. Currently, the price of OM 5451 broken rice is at 9,500 - 9,600 VND/kg, stable compared to yesterday; the price of dry bran is at 5,900 - 6,050 VND/kg, unchanged compared to yesterday.

At retail markets, rice prices have been adjusted for individual rice products. Currently, Nang Nhen rice has the highest listed price of 28,000 VND/kg; the price of common white rice today has been adjusted up 500 VND/kg, at 17,500 VND/kg. However, the price of regular rice continues to be fixed at 15,000 - 17,000 VND/kg, fragrant rice 17,000 - 23,000 VND/kg. Jasmine rice is 18,000 - 20,000 VND/kg; Nang Hoa rice is 21,500 VND/kg; regular rice fluctuates around 15,000 - 16,000 VND/kg; long-grain fragrant rice is 20,000 - 22,000 VND/kg; Huong Lai rice is 23,000 VND/kg; Taiwanese fragrant rice is 21,000 VND/kg; Soc rice is usually 18,500 VND/kg; Thai Soc rice is 21,000 VND/kg; Japanese rice is 22,000 VND/kg.

In the export market, Vietnam's rice export prices remained unchanged compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice was at $438 per ton; 5% standard rice was at $534 per ton; and 25% broken rice was at $506 per ton.

According to VFA data, Vietnam's 5% broken rice export price is currently anchored at 534 USD/ton, the highest in the Asian market.

Meanwhile, Thailand's 5% broken rice reversed to fall by $7 per ton after rising last week, down to $511 per ton.

Pakistan's similar product also fell by $5 per ton to just $476 per ton, the lowest on the market.

Meanwhile, in India, the world's top supplier, 5% broken white rice was offered at $488 a tonne, steady from the previous session.

According to data from the General Department of Vietnam Customs, Indonesia was Vietnam's second largest rice export market in the first nine months of the year, with a volume of more than 1 million tons, worth 624.8 million USD, up 16.8% in volume and 35.1% in value over the same period last year.

This market accounts for 14.8% in volume and 14.4% in total rice export value of Vietnam. Rice export price to Indonesia increased by 15.6%, reaching an average of 605 USD/ton.