Rice prices today, September 17, 2024: Rice prices increased slightly, paddy prices remained stable.

Rice prices today, September 17, 2024

Today's updates from local areas 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 price increase.

Lap Vo also recorded a price increase 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 a lower quantity of rice arriving.

On the general market, the price of IR 504 summer-autumn rice is currently at 10,700 - 10,800 VND/kg, which is 50 - 100 VND/kg higher than yesterday.

Finished IR 504 rice also saw a price increase, currently at 13,000 - 13,100 VND/kg, an increase of 100 - 200 VND/kg.

At retail markets, rice prices remained stable, with Nang Nhen rice reaching the highest price of 28,000 VND/kg.

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

Common rice varieties such as white rice and Soc rice are priced from 17,000 to 18,500 VND/kg, while Japanese rice costs 22,000 VND/kg.

Rice prices today, September 17, 2024

In the provinces of Soc Trang, Kien Giang, and Hau Giang, recent rice trading volumes have been low, with prices remaining relatively stable.

In Hau Giang, the autumn-winter rice crop is progressing smoothly, with no significant price fluctuations recorded.

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

Bac Lieu also witnessed a decrease 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 at prices ranging 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 between 7,600 and 7,800 VND/kg.

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

By-product prices today, September 17, 2024

The glutinous rice market remained relatively stable, with prices unchanged from previous days. Specifically, Long An IR 4625 dry glutinous rice was listed at 9,800 to 9,900 VND/kg. Similarly, the price of Long An three-month dry glutinous rice also remained unchanged, fluctuating between 9,800 and 10,000 VND/kg.

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

Rice export prices as of September 17, 2024

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

Ahead of the new harvest season, India has abolished the minimum price for basmati rice exports, a popular rice variety in South Asia, with the aim of boosting exports.

This new Indian policy, effective from September 13th, aims to support farmers in increasing sales amidst debt and rising production costs.

Previously, New Delhi set a minimum export price of $1,200 per ton, which was later reduced to $950 per ton. This led to an increase in rice supply, and exporters requested the government to reduce or eliminate the minimum price to help farmers clear their stockpiles.

Satish Goel, chairman of the Indian Rice Exporters Association, believes that abolishing the price floor will boost basmati rice exports and ensure profitability for farmers.

Mr. Goel also emphasized that, with current export prices around $700 per ton, abolishing the price floor is a correct decision, helping India become more competitive in the global market.

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