Rice price today December 12, 2024: Fresh rice price is high, exported rice is stable
Rice price today December 12, 2024: Fresh rice price is high, exported rice is unchanged compared to yesterday.
Domestic rice price
Today, in many localities, there is not much new supply, transactions are slow, and rice prices are high. In Long An, farmers offer a lot of Autumn-Winter rice for sale, but few people buy it. In Tra Vinh, rice is uniform and prices are high, but it is mainly market goods and traders do not buy much new rice.
In An Giang, the demand for Autumn-Winter rice is quite slow, traders mainly focus on buying rice that has been deposited, rice prices remain high. In Bac Lieu, rice prices are stable, demand is not high.
Fresh rice prices remain high, traders buy less. According to the Department of Agriculture and Rural Development of An Giang province, the price of OM 18 (fresh) rice ranges from 9,200 - 9,400 VND/kg; Dai Thom 8 (fresh) rice ranges from 9,200 - 9,400 VND/kg; IR 50404 (fresh) rice ranges from 7,800 - 8,000 VND/kg; OM 5451 rice ranges from 8,600 - 8,800 VND/kg; OM 380 rice ranges from 7,200 VND/kg; Nang Hoa 9 ranges from 9,200 - 9,400 VND/kg; Nhat rice ranges from 7,800 - 8,000 VND/kg.
Regarding rice, according to the Department of Agriculture and Rural Development of An Giang province, raw rice IR 504 increased by VND 50/kg to VND 10,250 - 10,350/kg; finished rice IR 504 fluctuated from VND 12,300 - 12,400/kg.
Today, in localities, the amount of rice arriving is not much, the price fluctuates little, and transactions are slow. In Lap Vo (Dong Thap), the amount of rice arriving is small, the quality is quite good, and the warehouse purchase price has decreased slightly. In Sa Dec (Dong Thap), the amount of rice arriving is not much, the quality is mainly average, the price fluctuates little, and the warehouse payment price is low.
At Sa Dec market canal, the amount of rice is low, the market warehouse buys mostly fragrant rice, the warehouse price has decreased slightly compared to yesterday. In An Cu (Cai Be, Tien Giang), the amount of rice imported is less, the price has decreased by 200 VND/kg compared to yesterday, mainly average quality rice, little good quality rice.
At retail markets, rice prices were stable compared to yesterday. Regular rice fluctuated from 17,000 - 18,000 VND/kg. The highest listed price was Nang Nhen rice at 28,000 VND/kg. Fragrant rice prices fluctuated from 20,000 - 22,000 VND/kg; Jasmine rice from 17,000 - 18,000 VND/kg; Nang Hoa rice 21,500 VND/kg; long-grain Thai fragrant rice from 20,000 - 22,000 VND/kg; Huong Lai rice 22,000 VND/kg; common white rice 17,500 VND/kg; Taiwanese fragrant rice 21,000 VND/kg; regular Soc rice 18,500 VND/kg; Thai Soc rice 21,000 VND/kg; Japanese rice 22,500 VND/kg.
The price of by-products ranges from 5,900 - 9,100 VND/kg. Currently, the price of fragrant rice bran ranges from 9,000 - 9,100 VND/kg; the price of dry bran ranges from 5,900 - 6,000 VND/kg.
The sticky rice market is stable, with the price of IR 4625 sticky rice (fresh) fluctuating from 8,100 - 8,200 VND/kg, and 3-month fresh sticky rice from 8,100 - 8,300 VND/kg.
Export rice price
In the export market, Vietnamese rice prices today remained unchanged compared to yesterday. According to the Vietnam Food Association (VFA), the price of 100% broken rice was at $405/ton; 5% standard rice was at $513/ton; and 25% broken rice was at $480/ton.
According to information from the US Department of Agriculture (USDA), it is forecasted that Vietnam will export a record 9 million tons of rice in 2024. However, export output in 2025 will decrease significantly.
USDA forecasts Vietnam's rice exports to hit an all-time high of 9 million tons in 2024, up 100,000 tons from its previous forecast. Exports are expected to increase sharply thanks to high demand from traditional customers. Notably, the Philippines is expected to import an additional 300,000 tons in December, bringing total imports to 5.3 million tons. Indonesia is also expected to increase imports by 300,000 tons, reaching 4.1 million tons.
In contrast, Vietnam will also import about 3.4 million tons of rice, ranking third in the world after the Philippines and Indonesia.
Similar to Vietnam, Thailand will also reach a record export of 10 million tons of rice in 2024, an increase of 700,000 tons. Pakistan will increase by 200,000 tons, reaching 6 million tons. Meanwhile, India, the world's number 1 rice power, will decrease by 200,000 tons, to 17.3 million tons.
USDA forecasts that by 2025, Vietnam’s rice exports will fall to around 7.8 million tons due to India’s return. Thailand could also see a sharper decline, to just 7.7 million tons, due to a decline in the Middle East and Africa markets. Vietnam is less affected, thanks to continued increases in imports from the Philippines, which could reach 5.4 million tons.
