Rice price today October 16, 2024: Export rice price slightly decreased
Rice price today October 16, 2024: Export rice price decreased slightly by 1 USD/ton. In contrast, domestic rice price increased slightly by 100 VND/kg.
Rice price today 10/16/2024
The price of rice on the market is currently increasing slightly compared to yesterday. Specifically, the price of raw IR 504 Summer-Autumn rice is currently 10,600 - 10,800 VND/kg, an increase of 100 VND/kg. The price of finished IR 504 rice is 12,600 - 12,700 VND/kg.
At retail markets, the general price of rice has not changed much, but some types of rice have slightly increased in price.
Nang Nhen rice has the highest price of 28,000 VND/kg.
Jasmine rice costs from 18,000 to 20,000 VND/kg.
Nang Hoa rice is sold at 21,500 VND/kg.
Regular rice costs about 15,000 - 16,000 VND/kg.
Long-grain fragrant rice costs 20,000 - 22,000 VND/kg, an increase of 1,000 VND/kg.
Jasmine rice costs 23,000 VND/kg.
Taiwanese fragrant rice costs VND21,000/kg, an increase of VND1,000/kg.
Regular white rice costs 17,500 VND/kg.
Soc rice usually costs 18,500 VND/kg.
Soc Thai rice costs 21,000 VND/kg.
Japanese rice costs 22,000 VND/kg.
Rice price today October 16, 2024
According to the latest information from the Department of Agriculture and Rural Development of An Giang province, today's rice price remains unchanged compared to yesterday. Specifically, the price of IR 50404 rice is currently 6,900 - 7,000 VND/kg.
Dai Thom 8 rice costs from 7,800 to 8,000 VND/kg.
OM 5451 rice is sold at 7,200 - 7,400 VND/kg.
OM 18 rice is priced at 7,500 - 7,800 VND/kg, unchanged from yesterday.
The price of OM 380 rice is currently between 7,200 - 7,300 VND/kg.
Japanese rice price remains at 7,800 - 8,000 VND/kg.
Dried Nang Nhen rice has a higher price, at 20,000 VND/kg.
By-product price today 10/16/2024
The prices of by-products currently range from 5,950 to 9,600 VND/kg. Specifically, the price of OM 5451 broken rice is currently from 9,500 to 9,600 VND/kg, unchanged from the previous day. The price of dried bran also remains stable, from 5,950 to 6,050 VND/kg.
Meanwhile, the price of sticky rice has not changed. Long An IR 4625 sticky rice (dry) is priced from 9,600 to 9,700 VND/kg. Long An 3-month sticky rice (dry) is priced from 9,800 to 10,000 VND/kg, unchanged from the previous day.
Export rice price
In the export market, Vietnamese rice prices have slightly adjusted compared to yesterday. According to the Vietnam Food Association, the price of 100% broken rice is currently 439 USD/ton, down 1 USD/ton. 5% standard rice is priced at 537 USD/ton, down 1 USD/ton. 25% broken rice is priced at 509 USD/ton, down 1 USD/ton.
The USDA's September market report predicts that in 2024, Vietnam is expected to export 8.6 million tons of rice, up 300,000 tons from the previous estimate.
This expected rice export volume is 500,000 tons higher than Vietnam's actual rice export volume in 2023, reaching 8.1 million tons.
This growth is attributed to strong demand from two key markets, Indonesia and the Philippines.
To achieve this record export target, Vietnam will also increase rice imports, with the total expected import volume in 2024 at 2.9 million tons, up from the previously forecast 2.6 million tons.
With such import volume, Vietnam will become the third largest rice importing country in the world, after the Philippines with 4.7 million tons and Indonesia with 3.8 million tons.
The opening of India’s rice warehouses has reduced the price of 5% broken rice on the international market to below $500 per ton. However, the same type of rice from Vietnam is still the highest price in the world, $50 per ton higher than other countries.
