Rice prices fell across the board today, December 27, 2024.

Domestic rice prices

Today, rice prices in the Mekong Delta region saw a slight decrease.

Regarding rice, the price of IR 504 raw rice has decreased by 100 VND/kg, fluctuating between 9,000 and 9,150 VND/kg; the price of finished IR 504 rice has also decreased by 100 VND/kg, fluctuating between 11,100 and 11,200 VND/kg.

Observations from various localities today show low incoming volumes, with prices continuing to fluctuate slightly, and large warehouses buying slowly while prices fall. In Sa Dec (Dong Thap), incoming volumes are sporadic, with large warehouses cautiously inquiring about purchasing various types of rice, at prices depending on quality. In Lap Vo - Vam Cong (Dong Thap), few warehouses are open for purchases, transactions are slow, and warehouses are buying Soc Trang rice at low prices.

In Sa Dec market, warehouses are buying cautiously, maintaining stable prices for good-quality rice, while dark-colored rice is seeing price reductions. In An Cu (Cai Be, Tien Giang), the quantity is low, mostly consisting of poor-quality or average-grade rice, with few high-quality grains; ST rice still has considerable demand.

At retail markets, rice prices remained unchanged compared to yesterday. Regular rice fluctuated between 17,000 and 18,000 VND/kg. Currently, Nang Nhen rice has the highest listed price at 28,000 VND/kg. Fragrant rice is offered at higher prices ranging from 20,000 to 22,000 VND/kg; Jasmine rice at 17,000 to 18,000 VND/kg; Nang Hoa rice at 21,500 VND/kg; long-grain Thai fragrant rice at 20,000 to 22,000 VND/kg; Huong Lai rice at 22,000 VND/kg; common white rice at 17,500 VND/kg; Taiwanese fragrant rice at 21,000 VND/kg; regular Soc rice at 18,500 VND/kg; Soc Thai rice at 21,000 VND/kg; and Japanese rice at 22,500 VND/kg.

In many localities today, new transactions are slow, and asking prices are falling due to the continuous decline in rice prices. In An Giang, the autumn-winter rice crop is running out, while farmers are offering early winter-spring rice sporadically, transactions are weak, and prices are trending downwards. In Kien Giang, the summer rice crop is scarce, transactions are slow, buyers are few, and rice prices remain relatively stable.

In Dong Thap, farmers are offering their early winter-spring rice crop for sale sporadically, but transactions are slow, there are few buyers, and asking prices have decreased. In Soc Trang, rice transactions are low, there are few new buyers, and traders have stopped buying.

According to an update from the Department of Agriculture and Rural Development of An Giang province, the current price of IR 50404 rice (fresh) has decreased by 100 VND, fluctuating between 7,400 - 7,500 VND/kg; OM 5451 rice fluctuates between 8,300 - 8,500 VND/kg; OM 18 rice (fresh) fluctuates between 8,800 - 9,000 VND/kg; OM 380 rice is at 7,200 VND/kg; Dai Thom 8 rice (fresh) fluctuates between 9,000 - 9,200 VND/kg; Nang Hoa 9 rice is at 9,200 VND/kg; and Nhat rice is at 7,800 - 8,000 VND/kg.

Regarding by-products, the prices of various by-products fluctuate between 5,700 and 8,200 VND/kg. Currently, the price of fragrant rice bran ranges from 8,100 to 8,200 VND/kg; the price of dry rice bran has increased by 50 VND/kg, fluctuating between 5,700 and 5,800 VND/kg.

Export rice prices

On the export market, Vietnam's rice export prices remained stable today compared to yesterday. According to the Vietnam Food Association (VFA), the current price for 5% broken rice is $485/ton; 25% broken rice is $459/ton; and 100% broken rice is $388/ton.

In 2024, Vietnam's rice exports reached a record 9 million tons, valued at $5.8 billion. While many businesses reported shortages of fragrant, high-quality, and specialty rice, the current unexpected developments are causing concern among many farmers as the early winter-spring crop is about to enter the harvest phase.