Rice price today November 19, 2024: Domestic and export rice prices are stable
Rice price today 11/19/2024: The domestic market has not changed much compared to yesterday. The source market has little buying and selling, and there is little good rice.
Domestic rice prices
Rice prices in the Mekong Delta region today remain stable. Specifically, the price of IR 504 raw rice fluctuates from 10,300 to 10,500 VND/kg, while the price of IR 504 finished rice is stable at 12,300 - 12,500 VND/kg.
In localities, rice supply is low, prices are stable and warehouse purchases are slow. The price of fragrant rice increased slightly, while the prices of other types of rice remained the same. In Sa Dec (Dong Thap), prices of all types of rice were stable, only fragrant and sticky rice increased slightly. In An Cu (Cai Be, Tien Giang), rice supply was low, prices increased slightly, but most of the rice was of poor quality and there was little good rice.
In retail markets, rice prices continue to remain stable at around 15,000 - 16,000 VND/kg. High-quality rice prices are as follows: Nang Nhen rice 28,000 VND/kg, fragrant rice 20,000 - 22,000 VND/kg, Jasmine rice 17,000 - 18,000 VND/kg, Nang Hoa rice 21,500 VND/kg, long-grain Thai fragrant rice 20,000 - 22,000 VND/kg, Huong Lai rice 22,000 VND/kg, Taiwanese fragrant rice 21,000 VND/kg, Soc rice 18,500 - 21,000 VND/kg, Japanese rice 22,500 VND/kg.
Regarding rice, the harvested rice source is still scattered. The price of fragrant rice remains high, the demand for rice is quite large because the rice source is not much left. Specifically, IR 50404 rice is priced at 7,400 - 7,500 VND/kg, OM 380 rice is priced at 6,800 - 7,000 VND/kg, OM 18 rice is from 8,400 - 8,600 VND/kg, Nang Hoa 9 rice is also at 8,400 - 8,600 VND/kg, and Japanese rice is priced at 7,800 - 8,000 VND/kg.
Regarding by-products, prices range from 6,050 - 9,400 VND/kg. OM 5451 broken rice has a stable price of 9,200 - 9,400 VND/kg, while dry bran ranges from 6,000 - 6,100 VND/kg.
Sticky rice prices also remained stable, with Long An IR 4625 sticky rice (fresh) priced at 7,800 - 7,900 VND/kg, Long An IR 4625 sticky rice (dry) at 9,600 - 9,800 VND/kg, and 3-month-old Long An sticky rice (dry) at 9,800 - 10,000 VND/kg.
World rice prices
Vietnam's rice export prices remained stable: 100% broken rice at 423 USD/ton, 5% standard rice at 518 USD/ton and 25% broken rice at 488 USD/ton.
According to the latest report of the US Department of Agriculture (USDA), Vietnam is expected to import 3.2 million tons of rice in 2024, an increase of 300,000 tons compared to the report a month ago. This increase is mainly due to abundant supply from Cambodia.
Vietnam began importing rice in 2020, with the volume exceeding 2 million tons in 2021. Initially, Vietnamese enterprises bought cheap rice from India, but from 2022, imported rice mainly came from Cambodia. This is thanks to Cambodian farmers using fragrant and high-quality rice varieties from Vietnam, which both increases their income and supports Vietnamese rice trade.
It is forecasted that in 2025, Vietnam will import about 3.1 million tons of rice, still mainly from Cambodia.
On the other hand, Vietnam is a major rice exporter to countries such as the Philippines, Indonesia, and Malaysia. In 2024, Vietnam's rice exports will reach a record 8.9 million tons, thanks to high demand from the Philippines, the region's largest rice importer.
The Philippines is expected to buy up to 5 million tons of rice in 2024, with Vietnam accounting for 80% of the market share. This is due to consecutive storms affecting rice production in the Philippines, along with the country's reduction of import tariffs.
USDA forecasts that in 2025, the Philippines will continue to increase rice imports to 5.1 million tons, an increase of 100,000 tons compared to 2024.
