Rice price today November 12, 2024: Domestic rice price increased slightly

Domestic rice prices

Today, rice prices in the Mekong Delta tend to increase slightly. However, purchasing power in localities such as An Giang and Dong Thap is still slow, causing rice prices to not fluctuate much and most of the traded rice is not of high quality. Specifically, the price of IR 504 Summer-Autumn raw rice is currently fluctuating between 10,500 - 10,600 VND/kg, an increase of 50 - 100 VND/kg compared to yesterday. The price of IR 504 finished rice also recorded growth, reaching 12,450 - 12,550 VND/kg, an increase of 50 VND/kg.

In An Giang province, rice prices today also had a slight adjustment compared to the previous day. Specifically, IR 50404 rice is priced at 7,300 - 7,500 VND/kg, Dai Thom 8 rice is traded at 8,200 - 8,400 VND/kg. Other rice varieties such as OM 5451 and OM 18 have prices ranging from 7,300 - 7,500 VND/kg and 8,200 - 8,400 VND/kg. Other rice varieties such as OM 380 are priced from 6,800 - 7,000 VND/kg, Nhat rice is from 7,800 - 8,000 VND/kg, and Nang Nhen rice (dry) is priced up to 20,000 VND/kg.

The by-product market also recorded slight changes. OM 5451 broken rice is currently priced at 9,300 - 9,500 VND/kg, while the price of dry bran ranges from 6,600 - 6,700 VND/kg, down 300 - 350 VND/kg compared to yesterday.

For sticky rice, prices have not changed compared to the previous day. Long An IR 4625 sticky rice (fresh) costs 7,800 - 7,900 VND/kg, while Long An IR 4625 sticky rice (dry) costs 9,600 - 9,800 VND/kg.

Export rice price

Vietnam's rice export prices remain stable compared to yesterday. Specifically, the price of 100% broken rice is currently at 427 USD/ton, 5% standard rice is priced at 524 USD/ton, and 25% broken rice is 495 USD/ton, according to information from the Vietnam Food Association (VFA).

According to a trader in An Giang province, rice prices are currently stable despite a decreasing supply trend. Meanwhile, the Indonesian National Logistics Agency (Bulog) has announced that it will buy more than 80,000 tons of rice from Vietnam, expected to be delivered in November and December 2024.

Export prices of rice from India continued to fall for the third consecutive week, reaching their lowest in the past 15 months. This was mainly due to the depreciation of the rupee and increased rice supply. Specifically, the price of 5% broken parboiled rice from India is currently ranging from $440-$447 per ton, down from $442-$449 per ton last week. This is the lowest price since July 2023. In addition, 5% broken white rice from India is being offered at $440-$450 per ton. A trader in Kolkata said that the depreciation of the rupee has reduced the export prices of Indian rice.

According to this trader, demand for rice from African countries is increasing sharply, as they can now buy rice at much lower prices than a month ago.

Thailand’s 5% broken rice prices remained stable at around $490 a tonne, similar to last week’s $485-$495 a tonne, as the dollar strengthened after the US presidential election.

In another development, Bangladesh has launched an international tender to buy 50,000 tonnes of rice. According to data from the Bangladesh Agriculture Ministry, floods in the country have reduced rice production by about 1.1 million tonnes.