Rice price today December 17, 2024: Remains stable

Domestic rice prices

According to information from the Department of Agriculture and Rural Development of An Giang province, the price of fragrant rice has increased slightly today, but trading activities at warehouses are still slow, due to the slight decrease in rice prices over the past weekend. Specifically, the price of IR 504 raw rice has decreased by about 100 VND, currently fluctuating from 9,700 - 9,800 VND/kg, while the price of IR 504 finished rice is from 12,000 - 12,200 VND/kg.

In Sa Dec, Dong Thap province, the price of raw rice of all kinds increased slightly by 100 VND compared to yesterday. In Lap Vo, the amount of rice arriving was small, the price of rice in warehouse was stable, while the price of fragrant rice and OM5451 increased slightly.

In retail markets, rice prices have not changed much compared to the previous day. Regular rice fluctuates between 17,000 and 18,000 VND/kg. Of which, Nang Nhen rice has the highest price at 28,000 VND/kg. Fragrant rice varieties such as Jasmine, long-grain fragrant rice, and Huong Lai rice fluctuate between 20,000 and 22,000 VND/kg. Nang Hoa rice costs 21,500 VND/kg, Taiwanese fragrant rice 21,000 VND/kg, Soc regular rice 18,500 VND/kg, and Japanese rice has the highest price in the group at 22,500 VND/kg.

Regarding rice prices, according to the Department of Agriculture and Rural Development of An Giang province, fresh rice prices remain stable at a high level. IR 50404 rice (fresh) is currently priced from 7,600 - 7,800 VND/kg; OM 5451 rice ranges from 8,600 - 8,800 VND/kg. Other rice varieties such as OM 380, OM 18, Lua Dai Thom 8, and Nang Hoa 9 are priced from 7,200 to 9,400 VND/kg, respectively.

Export rice price

In the export market, Vietnam's rice prices fell slightly last week, but did not change much compared to the previous day. According to the Vietnam Food Association, the price of 5% broken rice is currently at 509 USD/ton, while 25% broken rice and 100% broken rice are priced at 477 USD/ton and 405 USD/ton, respectively. Compared to other countries in the region, the price of 5% broken white rice in Vietnam is still higher than that of Thailand (505 USD/ton), Pakistan (454 USD/ton) and India (449 USD/ton).

The Philippines continues to be a major import market for Vietnam. According to the Philippine Bureau of Plant Industry (BPI), Vietnam accounts for 76.8% of the Philippines' total rice imports in 2024, equivalent to 3.34 million tons. The Philippines' total rice imports as of early December reached 4.35 million tons, far exceeding the 3.61 million tons for the whole of 2023.

Thanks to the stability of domestic rice prices and the high export prices, Vietnam has the opportunity to grow strongly in export turnover. However, product quality control remains the key factor to maintain its competitive position in the international market.