Rice price today October 11, 2024: Rice price continues to decrease

Rice price today October 11, 2024

In the Mekong Delta, rice prices decreased slightly today. The price of IR 504 Summer-Autumn raw rice is currently 10,100 - 10,400 VND/kg, down 100 - 200 VND/kg. The price of IR 504 finished rice is currently 12,500 - 12,700 VND/kg, down 100 VND/kg.

Rice prices at the retail market are stable, with Nang Nhen rice being the highest at 28,000 VND/kg. Jasmine rice is priced at 18,000 - 20,000 VND/kg, Nang Hoa rice is 20,000 VND/kg. Regular rice is priced at 15,000 - 16,000 VND/kg, long-grain fragrant rice is 20,000 - 22,000 VND/kg. Jasmine rice is down 100 VND/kg, to 22,000 VND/kg. Taiwanese fragrant rice is 21,000 VND/kg, common white rice is 17,000 VND/kg. Regular Soc rice is 18,000 - 18,500 VND/kg, Thai Soc rice is 21,000 VND/kg, Japanese rice is 22,000 VND/kg.

Rice price today October 11, 2024

The situation of new rice trading in localities is taking place slowly, leading to a downward trend in rice prices. In An Giang, the volume of rice trading has decreased, prices have decreased, and the number of buyers is not large.

In Kien Giang, the Autumn-Winter rice transaction was also not active, the market was quiet with prices falling and few buyers. According to the update from the Department of Agriculture and Rural Development of An Giang province, today's rice price has been adjusted compared to yesterday:

IR 50404 rice costs from 6,800 to 7,000 VND/kg.

Dai Thom 8 rice costs from 7,800 to 8,000 VND/kg.

OM 5451 rice is priced from 7,200 to 7,300 VND/kg, down 100 VND compared to yesterday.

OM 18 rice costs from 7,500 to 7,800 VND/kg.

OM 380 rice prices range from 7,200 to 7,300 VND/kg.

Japanese rice costs from 7,800 to 8,000 VND/kg.

Nang Nhen rice (dry) costs 20,000 VND/kg.

By-product price today October 11, 2024

The current prices of by-products range from 6,000 to 9,600 VND/kg.

Specifically, the price of OM 5451 broken rice is from 9,500 to 9,600 VND/kg, while the price of dry bran is from 6,000 to 6,100 VND/kg, an increase of 50 VND/kg.

Meanwhile, the price of sticky rice has not changed. Long An IR 4625 dry sticky rice is priced from 9,600 to 9,700 VND/kg, an increase of 100 VND compared to yesterday. Long An 3-month dry sticky rice remains at the same price from 9,800 to 10,000 VND/kg.

Rice export price today

In the export market, the price of 5% broken rice from Vietnam is 538 USD/ton, higher than that of Thailand, India and Pakistan. The price of 5% broken rice from Thailand is 500 USD/ton, India is 492 USD/ton, Pakistan is 489 USD/ton.

In the coming time, domestic rice prices are expected to decrease slightly due to supply from the harvest in the Mekong Delta.

Export rice prices are likely to remain stable at high levels due to demand from international markets, especially the Philippines. Businesses and individuals should update market information to export rice effectively.

India is the second largest rice producer in the world, with 118 million tonnes per year, while Vietnam produces 21.2 million tonnes. There is an opportunity for India and Vietnam to cooperate and expand rice trade, with India exporting 16.5 million tonnes and Vietnam 7.6 million tonnes per year.

To improve rice exports, Vietnam needs to improve rice quality according to international standards and develop new rice varieties that meet market demand. Understand consumer preferences and needs to diversify the market. Build a strong and trustworthy Vietnamese rice brand. Strengthen cooperation with local farmers to promote sustainable farming. Invest in modern processing technology to improve rice quality. Participate in market research and trade promotion to grasp demand and trends.