Rice price increased by 150-200 VND/kg, rice export decreased

Rice prices today, June 25, in the Mekong Delta region, rice prices remained stable, finished rice prices were 150-200 VND/kg and raw rice increased by 50 VND/kg. Rice market transactions were slow, prices decreased slightly.

Rice price today June 25, 2024: Rice price increased by 150 - 200 VND/kg, rice export decreased

Recorded at rice warehouses in Sa Dec (Dong Thap), prices decreased, consumption was weak, transactions were slow. Localities such as Long An and Hau Giang today had slow transaction demand, little supply, and warehouses bought evenly.

Accordingly, today's rice prices increased slightly. Specifically, the price of IR 504 raw rice increased by 50 VND/kg to 10,900 - 11,000 VND/kg; IR 504 finished rice increased by 150 - 200 VND/kg to 12,900 - 13,000 VND/kg.

At retail markets, rice prices have not been adjusted. Currently, Nang Nhen rice has the highest listed price of 30,000 VND/kg; Jasmine rice 18,000 - 20,000 VND/kg; Nang Hoa rice 20,000 VND/kg; regular rice fluctuates around 15,000 - 16,000 VND/kg; long-grain fragrant rice 20,000 - 21,000 VND/kg; Huong jasmine rice 20,000 VND/kg; Taiwanese fragrant rice 21,000 VND/kg; common white rice 17,000 VND/kg; regular Soc rice 18,500 VND/kg; Thai Soc rice 20,000 VND/kg; Japanese rice 22,000 VND/kg.

For by-products today, there is no adjustment compared to yesterday. Currently, the price of dry bran is at 6,950 - 7,050 VND/kg. Accordingly, the price of IR 504 plate has no adjustment compared to yesterday at 9,500 - 9,600 VND/kg.

In the rice market, the offered price tends to be higher, recorded in Hau Giang, rice transactions are steady, prices are stable. In Long An, there is little rain, fragrant rice prices increase slightly. In Kien Giang , rice prices are stagnant, few people buy.

Specifically, according to the update of the Department of Agriculture and Rural Development of An Giang province, Dai Thom 8 rice fluctuates around 7,200 - 7,400 VND/kg; OM 18 rice is at 7,200 - 7,400 VND/kg; IR 504 is at 7,000 - 7,200 VND/kg; OM 5451 is at 6,900 - 7,000 VND/kg; Nang Hoa 9 rice fluctuates around 7,600 - 7,700 VND/kg; OM 380 rice is at 6,800 - 7,000 VND/kg.

Accordingly, the sticky rice market recorded an adjustment compared to yesterday. 3-month sticky rice (dry) remained unchanged compared to the price from 8,800 VND/kg to 9,000 VND/kg. In addition, 9,000 - 9,200 VND/kg is the selling price applied to Long An sticky rice (dry), down 500 VND/kg. On the other hand, 3-month sticky rice (fresh) and Long An sticky rice (fresh) continued to be stable today.

In the export market, Vietnam's rice export prices have been adjusted. According to the Vietnam Food Association (VFA), 100% broken rice is stable at 468 USD/ton, down 5 USD; 5% broken standard rice is currently at 564 USD/ton, down 5 USD; 25% broken rice is stable at 542 USD/ton, down 5 USD.

The Philippines officially decided to reduce rice import tax from 35% to 15%, expected to be applied from early August 2024 to 2028.

According to the Vietnam Trade Office in the Philippines, Vietnam remains the Philippines’ largest rice export partner. From January 1 to May 23, Vietnam exported 1.44 million tons of rice to the Philippines, accounting for 72.9% of the Philippines’ total rice imports.

The effective date of Decree No. 62 is 30 days from the date of publication, and for rice import tax, the effective date is 15 days after the date of publication. Thus, the expected date of application of the new rice import tax rate of the Philippines is early August 2024.

Over the years, Vietnam has always been the largest rice exporting partner, accounting for over 80% of the total rice imported into the Philippine market. There are some opinions that the Philippines' reduction of rice import tax will create more favorable conditions and increase opportunities for Vietnamese rice in the Philippine market.

The latest data provided by the Plant Department (Ministry of Agriculture of the Philippines) shows that from January 1 to May 23, the total amount of rice imported by the Philippines increased by 20.3% compared to the first 5 months of 2023, reaching 1.97 million tons, much higher than the import level of 1.64 million tons in the first 5 months of 2023. Since the beginning of the year, the Plant Department has issued 4,066 rice import clearance licenses to importing enterprises.

* Information for reference only

Source: https://congthuong.vn/gia-lua-gao-hom-nay-ngay-2562024-gia-gao-tang-150-200-dongkg-gao-xuat-khau-giam-328013.html