Rice price today 11/2/2024: Record high rice export price

Domestic rice price today November 2, 2024

In the rice market, prices have not changed compared to yesterday. Raw IR 504 Summer-Autumn rice is currently priced from 10,550 to 10,700 VND/kg. Finished IR 504 rice is stable at 12,500 - 12,650 VND/kg.

At retail markets, rice prices have not changed. Nang Nhen rice has the highest price of 28,000 VND/kg. Other types of rice have the following prices: regular rice from 15,000 - 16,000 VND/kg, fragrant rice from 17,000 - 23,000 VND/kg. Specifically, Jasmine rice costs 17,000 - 18,000 VND/kg, Nang Hoa rice is 21,500 VND/kg, regular rice is also around 15,000 - 16,000 VND/kg, long-grain Thai fragrant rice is from 20,000 - 22,000 VND/kg, Huong Lai rice is 23,000 VND/kg, Taiwanese fragrant rice (China) is 21,000 VND/kg, regular Soc rice is 18,500 VND/kg, Thai Soc rice is 21,000 VND/kg, and Japanese rice is 22,000 VND/kg.

Update from the Department of Agriculture and Rural Development of An Giang province said that rice prices have been adjusted today. Specifically, IR 50404 rice is priced from 6,800 - 7,100 VND/kg, an increase of 100 VND/kg; Dai Thom 8 rice is priced from 7,800 - 8,000 VND/kg; OM 5451 rice is priced from 7,300 - 7,600 VND/kg, also an increase of 100 VND/kg; OM 18 rice is priced from 7,200 - 7,500 VND/kg; OM 380 rice is priced from 7,000 - 7,200 VND/kg; Nhat rice is priced from 7,800 - 8,000 VND/kg; Nang Nhen rice (dry) is 20,000 VND/kg.

Regarding by-products, prices range from 6,200 - 9,600 VND/kg. The price of OM 5451 broken rice is currently at 9,400 - 9,600 VND/kg, while the price of dry bran increased by 100 VND/kg, reaching 6,400 - 6,500 VND/kg compared to yesterday.

Rice export price today 11/2/2024

In the export market, Vietnamese rice prices have been adjusted. According to the Vietnam Food Association (VFA), 100% broken rice is priced at 427 USD/ton; 5% standard rice is 524 USD/ton; 25% broken rice has decreased by 2 USD, currently at 495 USD/ton.

According to the Ministry of Agriculture and Rural Development, in the past 10 months, the total export turnover of the agricultural sector is estimated at 51.74 billion USD, an increase of more than 20% over the same period last year.

The product group with the highest turnover was vegetables and fruits, reaching 6.34 billion USD, up 31.5%. In particular, durian exports exploded, contributing more than 3 billion USD.

Coffee exports also hit a record high, with $4.6 billion in the first 10 months of the year, up more than 40% year-on-year. The average export price reached $3,981 per ton, up 57%. Major markets such as the Philippines and Malaysia have increased imports, with demand increasing 2.2 times compared to 2023.

Pepper exports have recovered strongly, reaching 1.12 billion USD in 10 months, up more than 48% over the same period, with an average export price of 5,084 USD/ton, up 51.7%.

Rice exports also continued to grow. Vietnam exported nearly 7.8 million tons of rice, reaching 4.86 billion USD, up more than 10% in volume and over 23% in value compared to the previous year. The average export price of rice reached 626 USD/ton, up 12%. Major markets such as the Philippines, Indonesia and Malaysia maintained high demand, of which exports to the Philippines increased by more than 53%, Indonesia by about 35%, and Malaysia by 2.3 times compared to the same period last year.

With its diverse segments, Vietnamese rice has a solid position in the international market. Although India has lifted its ban on rice exports, Vietnam’s high-end segment still maintains high and stable prices, creating a competitive advantage.

It is forecasted that total agricultural export turnover this year could reach a record of 60-61 billion USD, of which vegetables and fruits are expected to exceed 7 billion USD, while rice and coffee are expected to both exceed 5 billion USD.