Rice price today September 17, 2024: Rice price increased slightly, paddy price was stable

Rice price today 9/17/2024

Today, updates from localities show a slight increase in rice prices along with stable purchases from warehouses. In Sa Dec (Dong Thap), limited rice supply has led to a slight increase in prices.

Lap Vo also recorded an increase in prices for high-quality rice, although demand from warehouses remained high. Due to prolonged rainy weather, the rice supply in Lap Vo was affected, resulting in less rice arriving.

In the general market, the price of IR 504 Summer-Autumn rice is currently at 10,700 - 10,800 VND/kg, 50 - 100 VND/kg higher than yesterday.

IR 504 finished rice also saw an increase in price, with the current price at VND13,000 - 13,100/kg, an increase of VND100 - 200/kg.

At retail markets, rice prices remained stable, with Nang Nhen rice reaching the highest price of VND28,000/kg.

Other types of rice such as Jasmine, Nang Hoa, and regular rice range in price from 15,000 to 21,000 VND/kg, depending on the quality and type of rice.

Popular rice such as white rice and Soc rice cost from 17,000 to 18,500 VND/kg, while Japanese rice costs 22,000 VND/kg.

Rice price today 9/17/2024

In Soc Trang, Kien Giang and Hau Giang provinces, recent rice trading volume has not been high, with basic prices remaining stable.

In Hau Giang, the Autumn-Winter rice crop went smoothly, with no significant price fluctuations recorded.

Due to the influence of drizzly weather, the amount of rice sold in Can Tho decreased, leading to an increase in rice prices.

Bac Lieu also witnessed a decline in new rice transactions, but rice prices edged up slightly.

According to the latest report from the Department of Agriculture and Rural Development of An Giang province, rice prices today remain unchanged compared to yesterday. Specifically:

IR 50404 rice is priced from 7,300 to 7,500 VND/kg. Dai Thom 8 rice is sold for from 7,900 to 8,200 VND/kg.

OM 5451 rice is priced from 7,600 to 7,900 VND/kg. OM 18 rice is priced from 7,900 to 8,200 VND/kg. OM 380 rice is priced from 7,600 to 7,800 VND/kg.

Japanese rice is traded at a price of 7,800 to 8,000 VND/kg. Dried Nang Nhen rice has the highest price of 20,000 VND/kg.

By-product price today 9/17/2024

The sticky rice market has not fluctuated significantly, maintaining the same price as the previous day. Specifically, dry Long An IR 4625 sticky rice is listed at 9,800 to 9,900 VND/kg. Similarly, the price of dry Long An three-month sticky rice has not fluctuated, ranging from 9,800 to 10,000 VND/kg.

For by-products, the general price is currently between 6,000 and 8,800 VND/kg. The current price of OM 5451 broken rice is between 8,600 and 8,800 VND/kg; meanwhile, the price of dry bran has slightly decreased, falling to around 6,000 to 6,200 VND/kg, down 100 to 150 VND compared to before.

Export rice price September 17, 2024

Vietnamese rice prices on the international market are currently stable, with unbroken rice listed at 452 USD/ton, 5% broken rice at 563 USD/ton and 25% broken rice at 533 USD/ton.

Ahead of the new harvest season, India has scrapped the minimum export price for basmati rice, a popular variety in South Asia, in a bid to boost exports.

This new policy of India, effective from September 13, is aimed at helping farmers increase sales in the context of facing debt and high production costs.

Previously, the minimum export price set by New Delhi was $1,200 per tonne, which was later reduced to $950 per tonne. This has led to a surge in rice supply, and exporters have asked the government to reduce or eliminate the minimum price to help farmers clear their stocks.

The removal of the floor price will boost basmati rice exports and ensure profitability for farmers, believes Satish Goel, president of the Rice Exporters Association of India.

Mr. Goel also emphasized that, with the current export price of around $700/ton, removing the floor price is a right decision, making India more competitive in the global market.

Every year, India exports 4 to 5 million tonnes of basmati rice to important markets such as Iran, Iraq, Yemen, Saudi Arabia, UAE, the US and Europe.