Domestic rice prices increase and decrease in opposite directions; exported rice continues to decline

Rice prices today, October 30, in the Mekong Delta provinces increased slightly with rice. Rice prices increased and decreased in opposite directions. Vietnam's rice exports decreased sharply.

Rice prices today, October 30, in the Mekong Delta region increased slightly with rice. Domestic rice prices increased and decreased in opposite directions. Vietnam's rice export prices continued to decline.

Update from the Department of Agriculture and Rural Development of An Giang province said that today's rice price recorded an adjustment compared to yesterday, IR 50404 price is at 6,800 - 7,000 VND/kg, an increase of 100 VND/kg; Dai Thom 8 rice is at 7,800 - 8,000 VND/kg, OM 5451 rice is at 7,200 - 7,500 VND/kg; OM 18 rice is at 7,200 - 7,500 VND/kg, OM 380 fluctuates at 7,000 - 7,200 VND/kg; Japanese rice is at 7,800 - 8,000 VND/kg and Nang Nhen rice (dry) is at 20,000 VND/kg.

Rice prices today October 30, 2024: Domestic rice prices increase and decrease in opposite directions; exported rice continues to decline

In the rice market, it is noted that in localities such as Soc Trang, An Giang , and Dong Thap, transactions are quiet, warehouse purchases are slow, quantity is low, and prices are stable.

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 increased to 10,550 - 10,700 VND/kg, an increase of 50 - 100 VND/kg. Meanwhile, the price of IR 504 finished rice has decreased to 12,550 - 12,650 VND/kg, a decrease of 50 VND/kg.

Regarding by-products, the prices of various by-products fluctuate between 6,200 - 9,600 VND/kg. Currently, the price of OM 5451 broken rice is at 9,400 - 9,600 VND/kg; the price of dry bran is at 6,200 - 6,400 VND/kg, an increase of 100-150 VND/kg compared to yesterday.

At retail markets, rice prices have not been adjusted for individual rice products. Currently, Nang Nhen rice has the highest listed price of VND 28,000/kg. However, the price of regular rice continues to be fixed at around VND 15,000 - 16,000/kg, fragrant rice at VND 17,000 - 23,000/kg. Jasmine rice is VND 17,000 - 18,000/kg; Nang Hoa rice is VND 21,500/kg; regular rice fluctuates around VND 15,000 - 16,000/kg; long-grain fragrant rice is VND 20,000 - 22,000/kg; Huong Lai rice is VND 23,000/kg; Taiwanese fragrant rice is VND 21,000/kg; Soc regular rice is VND 18,500/kg; Soc Thai rice is VND 21,000/kg; Japanese rice costs 22,000 VND/kg.

In the export market, Vietnam's rice export prices have been adjusted compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice is at 427 USD/ton, down 5 USD; 5% standard rice is at 524 USD/ton, down 7 USD; 25% broken rice is at 497 USD/ton, down 6 USD.

Recently, the Vietnam Trade Office in the Philippines said that Vietnam's rice exports to the Philippines are still maintaining high growth momentum.

Vietnam's total rice export turnover to this market in the first 9 months of 2024 reached 1.98 billion USD, accounting for 42.86% of Vietnam's total export turnover to the Philippine market.

It is forecasted that in the last three months of 2024, the Philippines' rice import demand will continue to increase due to increased domestic consumption demand while the Philippines' year-end crop was damaged by natural disasters.

The Philippines' total rice imports in 2024 could reach 4 million tons, or even 4.5 million tons. The Philippines is Vietnam's leading rice export market.