Rice price today December 20, 2024: Some types of rice slightly decreased
Rice prices today December 20, 2024: Some rice varieties decreased slightly. While export rice prices remained stable, the market was affected by India's policies.
Domestic rice prices
Rice trading activities in many localities today were quite quiet. In Kien Giang, the market almost stagnated, with rice prices falling sharply due to lack of buyers. A similar situation occurred in Bac Lieu, where traders asked for price reductions to buy rice.
In Long An, most factories and partners did not buy new rice, causing prices to continue to fall. In Tien Giang, rice trading conditions were also not very positive, with traders trying to negotiate a price reduction to collect rice they had deposited.
According to information from the Department of Agriculture and Rural Development of An Giang, the price of OM 5451 rice has decreased by VND200, ranging from VND8,400 to VND8,600/kg. OM 18 rice (fresh) has decreased by VND100, at VND8,800 - VND9,000/kg. Other rice varieties such as IR 50404 (fresh), OM 380 and Japanese rice range from VND7,200 to VND8,000/kg, while Nang Hoa 9 and Dai Thom 8 have higher prices, from VND9,100 to VND9,400/kg.
Regarding rice, market transactions were slow, with prices continuing to fall. IR 504 raw rice decreased by VND400, ranging from VND9,000 to VND9,200 per kg, while IR 504 finished rice also decreased similarly, to VND11,500 to VND11,700 per kg.
At retail markets, rice prices have not changed much compared to yesterday. Regular rice ranges from 17,000 to 18,000 VND/kg. Nang Nhen rice is listed at the highest price, reaching 28,000 VND/kg. Other types of rice such as Jasmine, Nang Hoa, and Huong Lai rice range in price from 17,000 to 22,500 VND/kg.
For by-products, the price of dry bran decreased by VND200, down to VND5,550 - 5,600/kg. Fragrant rice bran also decreased slightly, currently at VND8,400 - 8,600/kg.
Export rice price
Vietnam's rice export prices today recorded a slight decrease compared to the previous day. Specifically, 5% broken rice reached 508 USD/ton, 25% broken rice was at 475 USD/ton, and 100% broken rice was traded at 405 USD/ton.
Compared to Thailand, the price of the same type of rice from this country remained at 506 USD/ton, while India's 5% broken white rice was lower, only 449 USD/ton.
On the afternoon of December 19 in Tokyo, Minister of Industry and Trade Nguyen Hong Dien chaired the Asia-Africa Trade Counselor Conference, focusing on solutions to promote sustainable exports. Mr. Pham The Cuong, Trade Counselor of Vietnam in Indonesia, presented on the Indonesian rice market and the country's food self-sufficiency strategy under President Prabowo Subianto.
In 2023-2024, Vietnam’s rice exports to Indonesia will be favorable due to the global supply shortage and the impact of El Niño. However, this opportunity is only short-term as Indonesia is increasing domestic production and limiting imports. Competition from Thai rice and the lack of a prominent Vietnamese rice brand are also major challenges.
For sustainable development, Vietnam needs to improve rice quality, diversify products, build a systematic brand and ensure quarantine standards. The government should support the implementation of the 1 million hectare high-quality rice project and strongly promote Vietnamese rice through international events.
The Vietnam Trade Office in Indonesia is committed to providing market information, supporting businesses and promoting trade, ensuring the maintenance of Vietnam's rice export position in Indonesia.
