Rice price today January 10, 2025: Rice price increases sharply, China increases purchases
Rice price today January 10, 2025: Rice price increased sharply as Chinese businesses rushed to buy to serve Lunar New Year
Domestic rice price
Rice prices today in the Mekong Delta region fluctuated, with all types of rice increasing slightly while some rice products continued to decrease compared to yesterday.
According to the update from the Department of Agriculture and Rural Development of An Giang province, the current price of IR 50404 rice (fresh) fluctuates at 7,200 - 7,300 VND/kg; OM 5451 rice decreased by 200 VND/kg, fluctuating at 7,400 - 7,600 VND/kg; OM 18 rice (fresh) decreased by 200 VND/kg, fluctuating at 7,600 - 7,800 VND/kg; Dai Thom 8 rice (fresh) decreased by 200 VND/kg, fluctuating at 7,600 - 7,800 VND/kg; OM 380 rice is at 6,600 - 6,700 VND/kg; Nang Hoa 9 rice is at 9,200 VND/kg; Nhat rice is at 7,800 - 8,000 VND/kg.
In many localities today, new rice transactions continued to be slow due to continuous fluctuations in rice prices. In Soc Trang, there was not much demand for new purchases, and many traders abandoned their deposits. In Dong Thap, farmers offered rice at reduced prices but few traders bought.
In An Giang, farmers are offering early winter-spring rice for sale, with slow transactions due to the continuous fluctuations in rice prices in recent days. In Bac Lieu, the market is unstable, and transactions are stagnant. In Long An, the supply is still low, prices continue to decrease, and transactions are slow.
Regarding rice, the price of IR 504 raw rice has increased by 250 VND, fluctuating at 7,900 - 8,100 VND/kg; IR 504 finished rice has increased by 100 VND, fluctuating at 9,900 - 10,100 VND/kg.
Recorded in localities today, the volume is sporadic, new transactions are quite slow. In Lap Vo - Vam Cong (Dong Thap), the volume is small, warehouse purchases are slow, prices have increased slightly compared to yesterday. In Sa Dec (Dong Thap), the volume is sporadic, warehouse purchases have increased slightly for all types of rice.
Sa Dec market canal (Dong Thap), the volume is quite good, the price of rice of all kinds increased slightly, the market rice warehouses bought slowly. At An Cu (Cai Be, Tien Giang), the volume is sporadic, the purchase transactions are slow, the price of rice of all kinds increased slightly.
At retail markets, rice prices remained unchanged compared to yesterday. Regular rice fluctuated at 16,000 - 17,000 VND/kg. Currently, Nang Nhen rice has the highest listed price of 28,000 VND/kg; fragrant rice is offered at high prices ranging from 20,000 - 22,000 VND/kg; Jasmine rice is 18,000 - 20,000 VND/kg; Nang Hoa rice is 21,500 VND/kg; long-grain fragrant rice is 20,000 - 22,000 VND/kg; Huong Lai rice is 22,000 VND/kg; common white rice is 17,500 VND/kg; Taiwanese fragrant rice is 21,000 VND/kg; Soc regular rice is 18,500 VND/kg; Soc Thai rice is 21,000 VND/kg; Japanese rice is 22,500 VND/kg.
As for by-products, the prices of by-products and various by-products also decreased, fluctuating from 5,950 - 7,400 VND/kg. Currently, the price of fragrant rice bran fluctuates at 7,200 - 7,400 VND/kg; the price of dry bran fluctuates at 5,950 - 6,050 VND/kg.
Export rice price
In the export market, Vietnam's rice export prices today remained unchanged from yesterday. According to the Vietnam Food Association (VFA), currently 5% standard rice is at 460 USD/ton; 25% broken rice is at 432 USD/ton; 100% broken rice is at 327 USD/ton.
Some businesses in the Mekong Delta also confirmed that rice prices have increased sharply again. Mr. Nguyen Vinh Trong, Sales Director of Viet Hung Company Limited (Tien Giang), said: Today, the export price of rice increased by an average of 20 - 30 USD/ton depending on the type, especially high-quality fragrant rice such as OM5451 and DT8.
While the Philippine market is still closed for the New Year, Chinese businesses are taking advantage of the opportunity to buy to serve the Lunar New Year, while African markets are also increasing purchases.
Businesses explained that after a period of deep decline, they seized the opportunity to buy in, reducing pressure on farmers. Similarly, after the New Year holiday, rice importers also began to return to the market to take advantage of good prices. Thanks to many positive factors, the market has recovered.
In 2024, Vietnam's rice exports will reach 9.18 million tons, with a turnover of 5.75 billion USD; an increase of 12% in volume and 23% in value compared to 2023. The average export price of rice will reach 627 USD/ton, an increase of 9% compared to 2023.
