Rice prices today, November 18, 2024: Market remains stable.
Rice prices today, November 18, 2024: The market remains stable, fragrant rice continues to fetch high prices, and farmers are offering their paddy for sale gradually.
Domestic rice prices
Rice prices in the Mekong Delta today (November 18th) remain stable after several sessions of slight increases and decreases last week.
In many localities, farmers are harvesting rice sporadically and offering it for sale gradually. The price of fragrant rice remains high, and demand is relatively good due to the limited supply of unsold rice.
According to the Department of Agriculture and Rural Development of An Giang province, the current price of IR 50404 rice is 7,400 - 7,500 VND/kg, OM 380 rice ranges from 6,800 - 7,000 VND/kg, OM 18 and Nang Hoa 9 rice are both priced at 8,400 - 8,600 VND/kg, and Japanese rice is at 7,800 - 8,000 VND/kg.
Rice prices remained stable today. Raw IR 504 rice traded at 10,300 - 10,500 VND/kg, while finished IR 504 rice maintained at 12,300 - 12,500 VND/kg.
The market for raw and finished rice is stable. Supply is low, prices are stable, and warehouses are slow to purchase. The price of fragrant rice has increased slightly, while other types of rice remain stable.
In Sa Dec (Dong Thap), rice prices are mostly stable, with only fragrant and sticky rice showing a slight increase. In An Cu (Cai Be, Tien Giang), rice supply is intermittent, prices are rising, but most of it is low-quality rice with few good-quality grains.
At retail markets, rice prices remain stable. Regular rice fluctuates around 15,000 - 16,000 VND/kg. Nang Nhen rice is the most expensive at 28,000 VND/kg. Fragrant rice ranges from 20,000 - 22,000 VND/kg, Jasmine rice from 17,000 - 18,000 VND/kg, Nang Hoa rice at 21,500 VND/kg, long-grain Thai fragrant rice from 20,000 - 22,000 VND/kg, Huong Lai rice at 22,000 VND/kg, Taiwanese fragrant rice at 21,000 VND/kg, regular Soc rice at 18,500 VND/kg, Thai Soc rice at 21,000 VND/kg, and Japanese rice at 22,500 VND/kg.
Prices of by-products range from 6,050 to 9,400 VND/kg. OM 5451 rice bran remained stable at 9,200 - 9,400 VND/kg, while dry rice bran prices fluctuated between 6,000 and 6,100 VND/kg.
The glutinous rice market remains unchanged. Long An IR 4625 glutinous rice (fresh) is priced from 7,800 - 7,900 VND/kg, Long An IR 4625 glutinous rice (dried) from 9,600 - 9,800 VND/kg, and Long An 3-month glutinous rice (dried) from 9,800 - 10,000 VND/kg.
World rice prices
On the export market, Vietnam's rice export prices today decreased slightly compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice is priced at US$423/ton, standard 5% broken rice at US$518/ton, and 25% broken rice at US$488/ton.
In recent days, Vietnam's rice export prices have fallen to their lowest level since July 2023 due to concerns about Indonesia's import demand next year. Meanwhile, Indian rice prices have remained stable near their lowest level in 15 months due to increased supply.
According to a trader in Ho Chi Minh City, when the price of imported rice into a country tends to decrease slightly, this may reflect that the country will not import rice in 2025.
Indonesia is the second largest importer of Vietnamese rice after the Philippines. From January to October 2024, Indonesia imported 1.1 million tons of Vietnamese rice, accounting for 14.2% of total rice exports.
Despite reports that Indonesia may reduce its rice import demand next year, most Vietnamese traders remain confident in this potential market. One trader in An Giang province, in the Mekong Delta, believes that Indonesia will continue to import rice from Vietnam next year.
Another trader said that the Philippines had previously announced it would reduce rice imports but ended up importing more.
According to a report by the General Department of Customs, in the first eight months of this year, Indonesia was Vietnam's second largest rice export market, with a total export volume of nearly 914,000 tons, worth approximately $558 million, an increase of 27% in volume and 54% in value compared to the same period last year.
Previously, Indonesia had planned to import a total of 3.6 million tons of rice in 2024 to supplement domestic consumption, as unfavorable weather conditions significantly affected domestic rice production.
