Rice price today November 20, 2024: Domestic rice price increased slightly

Domestic rice price

Rice prices today in the Mekong Delta region are low in supply, farmers are offering rice at high prices. Warehouses and markets are buying fragrant rice at slightly increased prices.

The raw rice and finished rice market also recorded a slight increase in price compared to yesterday, with stable transactions. Specifically, IR 504 Summer-Autumn rice increased by VND50/kg, to VND10,400 - 10,500/kg, while IR 504 finished rice increased slightly to VND12,400 - 12,550/kg.

In localities, rice supply is low and prices have increased slightly compared to yesterday. Fragrant rice is still purchased a lot, while flat rice is traded more slowly. In Sa Dec (Dong Thap), fragrant and sticky rice is scarce, flat rice has a low supply. In Lap Vo - Vam Cong (Dong Thap), rice supply is low, average and good quality, demand for OM 5451 rice and fragrant rice has increased.

In An Cu (Cai Be, Tien Giang), the rice supply is low, the price has increased slightly, mainly low quality rice, little good rice.

At retail markets, rice prices are stable at around VND15,000 - 16,000/kg. Some types of fragrant rice are more expensive, such as Nang Nhen rice at VND28,000/kg, Jasmine rice at VND17,000 - 18,000/kg, Nang Hoa rice at VND21,500/kg, Huong Lai rice at VND22,000/kg, and Japanese rice at VND22,500/kg.

Regarding rice, the price of IR 50404 rice increased by 100 VND/kg, to 7,500 - 7,600 VND/kg, while other types of rice fluctuated at 6,800 - 8,600 VND/kg depending on the type.

For by-products, prices range from 6,000 - 9,400 VND/kg. The price of OM 5451 broken rice increased slightly to 9,300 - 9,400 VND/kg, while the price of dry bran ranges from 6,000 - 6,100 VND/kg.

Glutinous rice prices also adjusted: IR 4625 sticky rice (fresh) increased by 200 VND/kg, reaching 7,900 - 8,100 VND/kg, while 3-month-old Long An sticky rice was stable at 9,800 - 10,000 VND/kg.

World rice prices

In the export market, Vietnamese rice prices remained stable. Specifically, 100% broken rice was priced at 423 USD/ton, 5% standard rice was 518 USD/ton, and 25% broken rice was 488 USD/ton.

Mr. Poonpong Naiyanapakorn, Director of the Trade Policy and Strategy Office (TPSO) under the Ministry of Commerce of Thailand, emphasized that the Thai agricultural sector urgently needs to adapt to the challenges of climate change and changes in consumer demand and tastes.

As one of the world’s largest rice exporters, Thailand is facing pressure to reduce greenhouse gas emissions in its agricultural sector. According to statistics, the agricultural sector accounts for 15.23% of Thailand’s total greenhouse gas emissions, second only to the energy sector (69.96%).

“Rice farming is the largest source of greenhouse gas emissions in the agricultural sector,” Naiyanapakorn said. Specifically, rice farming accounts for more than 50% of total agricultural emissions, equivalent to 50.58%.

Therefore, he called for: "Thailand needs to promote 'low-carbon' rice production by adopting new methods and technologies to reduce emissions, meet the needs of environmentally-conscious consumers and access high-end markets."

In recent times, Thailand has implemented initiatives towards this goal, typically the Thai Rice NAMA project (from August 2018 to July 2024), implemented in cooperation between the Thai Ministry of Agriculture and Cooperatives and the German Agency for International Cooperation (GIZ).

However, Thailand admits it is struggling to compete with countries in the region, especially Vietnam, a country that is also actively developing "low-carbon" rice production.

Vietnam is seen as having many advantages such as strong support from the state, non-governmental organizations, low production costs, and national policies towards the goal of net zero emissions by 2050.

With these advantages, Vietnam is considered to have a competitive advantage in accessing environmentally-conscious markets, especially the European Union (EU), where Vietnam is benefiting from the Free Trade Agreement (FTA).