Rice exports in 11 months reached nearly 8.5 million tons with a value of 5.31 billion USD

Vietnam's rice export volume and value in the first 11 months of 2024 reached nearly 8.5 million tons with a value of 5.31 billion USD, up 10.6% in volume and 22.4% in value over the same period in 2023.

Rice products for export at a factory. (Photo: Vu Sinh/VNA)

Rice prices in the Mekong Delta increased last week for some varieties. High rice prices are a good motivation for farmers to plant early in the 2024-2025 Winter-Spring crop as well as to avoid drought and salinity. Rice exports in the first 11 months have set new records, reaching nearly 8.5 million tons with a value of 5.31 billion USD.

According to the update of the Department of Agriculture and Rural Development of An Giang, the prices of some types of rice purchased by traders are: IR 50404 from 7,800-7,900 VND/kg; OM 5451 rice is priced from 8,600-8,800 VND/kg; Dai Thom 8 (fresh) from 9,000-9,100 VND/kg, an increase of 100 VND/kg and OM 18 (fresh) also from 9,000-9,200 VND/kg, an increase of 200 VND/kg...

Regarding rice products in the retail market in An Giang , regular rice costs from 16,000-17,000 VND/kg; long-grain fragrant rice from 20,000-22,000 VND/kg; Jasmine rice from 17,000-18,000 VND/kg; common white rice 17,500 VND/kg, Nang Hoa rice 21,500 VND/kg...

Raw rice IR 504 is at 10,200-10,300 VND/kg; finished rice IR 504 is stable at 12,300-12,400 VND/kg.

For by-products, the price of by-products of all kinds fluctuates between 5,800-9,400 VND/kg. Currently, the price of fragrant rice bran is at 9,000-9,100 VND/kg; the price of dry bran is at 5,900-6,050 VND/kg.

In the shrimp rice production areas of Bac Lieu , the price of ST rice (mainly ST24, ST25) is currently at its highest price ever, ranging from 12,000-13,000 VND/kg, higher than the price of ST rice in the shrimp rice crop last year. With this price, ST rice farmers are eagerly awaiting the day of a bumper harvest.

Or in Tra Vinh, this Autumn-Winter crop, most farmers use high-quality rice varieties that meet export standards as recommended by the agricultural sector, such as: OM 5451, OM 4,900, Dai Thom 8, ST 25, so they are favored by traders. For example, the price of fresh rice OM 5451 is purchased by traders at the field at 8,500 VND/kg, after deducting production costs, farmers have a profit of nearly 5,000 VND/kg of commercial rice.

According to the Ministry of Agriculture and Rural Development, by the end of November, the whole country had planted 7,825,000 hectares of rice, equal to 104% of the same period last year. The harvested rice area reached 6,853.8 thousand hectares, equal to 100.1% compared to the same period last year; the estimated output on the harvested area reached 42.12 million tons, equal to 101.1% compared to the same period last year, the average yield reached 61.5 quintals/ha, an increase of 0.6 quintals/ha.

By the end of November, the southern provinces had planted 712,600 hectares of winter-spring rice for the 2024-2025 crop, an increase of 70.4% over the same period last year. Particularly in the Mekong Delta provinces, due to the current stable high rice prices, immediately after harvesting the early autumn-winter rice, farmers in some places urgently plowed and cleared the land to plant the winter-spring rice crop, with the cultivated area reaching 705,700 hectares, an increase of 69.8% over the same period last year.

Harvesting high-quality rice. (Photo: Thu Hien/VNA)

Regarding exports, the volume and value of rice exports in the first 11 months of 2024 will reach nearly 8.5 million tons with a value of 5.31 billion USD, an increase of 10.6% in volume and 22.4% in value over the same period in 2023.

Vietnam's 5% broken rice was offered at $517 a tonne, down from $520 last week, the Vietnam Food Association said.

A trader in Ho Chi Minh City said trading activity this week remained quiet as sellers did not want to sell at low prices while buyers wanted prices to drop further.

In the Asian rice market, Indian parboiled rice export prices fell last week due to a record low rupee. Indian 5% broken parboiled rice was quoted at $444-$450 per tonne this week, compared to $445-$453 per tonne last week. Indian 5% broken white rice was quoted at $450-$458 per tonne.

Demand is steady, a New Delhi-based trader said, adding that traders are cutting prices as the rupee falls to a record low.

Meanwhile, Thailand’s benchmark 5% broken rice prices remained unchanged at $510 a tonne last week, with a Bangkok-based trader predicting prices could fall as India’s exports increase.

Regarding the US agricultural market, in the trading session on December 6, wheat futures prices on the Chicago Mercantile Exchange (CBOT) increased for the fourth consecutive session and increased throughout the week due to concerns about poor winter crop production in Russia.

Wheat prices rose 0.13% to $5.59 a bushel in the final session of the week and rose 2% for the week.

Ukraine’s current shipping capacity could soon be threatened, raising concerns about wheat supplies from the Black Sea region, said Reuters market analyst Karen Braun. Russia and Ukraine accounted for a third of global wheat exports last season.

Meanwhile, corn prices rose for the second session and third week as Brazil's corn exports in November 2024 fell sharply (36%) compared to the same period last year.

At CBOT, soybeans fell 0.28% to $9.91 a bushel, while corn rose 0.25 cent to $4.3525 a bushel.

Brazil's soybean exports fell 50% in November 2024 from a year earlier, government data showed.

The world coffee market showed that the price of robusta and arabica coffee continued to increase on both international exchanges on the evening of December 6 (Vietnam time).

Robusta coffee for January 2025 delivery in London increased by 1.8%, equivalent to 88 USD/ton, to 4,983 USD/ton. Meanwhile, Arabica coffee for March 2025 delivery in New York was 318.15 US cents/lb (1 lb = 0.454kg), up 1.48%, equivalent to 4.65 cents compared to the end of the previous session.

In the domestic market, coffee prices increased by about 6,300 VND/kg. Currently, the average coffee purchase price in the Central Highlands provinces is 114,500 VND/kg./.

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