Rice price today October 2, 2024: Rice price slightly decreased, paddy price stable

Rice price today October 2, 2024

The Mekong Delta region recorded a decrease in rice prices today. The rice market in Soc Trang and Dong Thap is quiet with few transactions, especially low-quality rice. An Giang also witnessed a slight decrease in rice prices.

IR 504 Summer-Autumn raw rice is currently priced at 9,700 - 9,800 VND/kg, down 500 VND compared to the previous day.

Finished rice IR 504 is currently priced from 12,200 - 12,400 VND/kg.

At retail markets, rice prices have not changed much, with varieties such as Nang Nhen, Jasmine, and long-grain sliced ​​fragrant rice priced from 15,000 - 28,000 VND/kg.

Japanese rice has the highest price, at 22,000 VND/kg.

Rice price today October 2, 2024

An Giang Department of Agriculture and Rural Development announced that rice prices on October 2 did not change much compared to yesterday.

Popular rice varieties such as IR 50404, Dai Thom 8, OM 5451, OM 18, OM 380 and Japanese rice are purchased at prices ranging from VND 7,200 to VND 8,000/kg.

Dried Nang Nhen rice has the highest price, at 28,000 VND/kg.

By-product price today October 2, 2024

The by-product market has recently seen slight price changes. The by-product price is currently between VND5,950 and VND10,000/kg.

Specifically, the price of OM 5451 sheet has decreased, currently from 9,500 to 9,600 VND/kg, a decrease of about 100 to 400 VND.

The price of dry bran has increased slightly, now 6,000 to 6,100 VND/kg, an increase of 50 VND.

Glutinous rice prices remain the same as the previous day. Long An IR 4625 sticky rice (dry) costs from 9,500 to 9,700 VND/kg. Long An 3-month sticky rice (dry) costs from 9,800 to 10,000 VND/kg.

Rice export price today

Vietnam's rice export prices were stable, with 100% broken rice at $454 per ton, 5% standard rice at $562 per ton, and 25% broken rice at $530 per ton, according to the Vietnam Food Association (VFA).

Vietnam is a country famous for exporting rice, having imported rice worth up to 1 billion USD in the first 9 months of 2024. This is the first time in the history of Vietnam's rice imports that it has reached the billion USD mark.

During the same period, Vietnam exported 7 million tons of rice, earning 4.37 billion USD, up 9.2% in volume and 23.5% in value over the previous year.

Since the beginning of the year, rice imports have increased by 154.2%, costing 117 million USD. The total cost of rice imports in the first 9 months was 996 million USD, up 57.3% year-on-year and higher than the 860 million USD of 2023.

If this trend continues, rice imports could reach $1.3 billion by the end of 2024.

Although Vietnam is the world's second largest rice exporter, the country still imports rice to meet diverse production needs such as ingredients for making cakes, vermicelli, pho, and other consumer needs.