Rice price today August 20, 2024: Rice price increases, rice price decreases
Today's rice price on August 20, 2024 in the domestic market has been adjusted down by 50 - 100 VND/kg for some types of rice. The rice market is trading moderately, rice prices remain high.
In the Mekong Delta region, rice prices today decreased slightly by 50 to 100 VND/kg. The local rice market has a small amount of imported goods but prices and transactions are stable.
In An Cu (Soc Trang), transactions were slow, the amount of rice purchased at the market was small and mostly bad quality rice. In Sa Dec (Dong Thap), the amount of rice arriving was small and warehouses were slow to buy, leading to a downward trend in prices.
The price of IR 504 Summer-Autumn raw rice decreased to 11,700 - 11,800 VND/kg, down 50 - 100 VND/kg compared to yesterday.
The price of IR 504 finished rice decreased to 13,800 - 13,900 VND/kg, down 50 VND/kg.
At retail markets, rice prices remained unchanged, with Nang Nhen rice having the highest price of 28,000 VND/kg.
Other types of rice are priced as follows: Jasmine rice 18,000 - 20,000 VND/kg, Nang Hoa rice 20,000 VND/kg, regular rice 15,000 - 16,000 VND/kg, long-grain fragrant rice 20,000 - 21,000 VND/kg, Huong Jasmine rice and Soc Thai rice are both 20,000 VND/kg, Taiwanese fragrant rice 21,000 VND/kg, common white rice 17,000 VND/kg, and Japanese rice 22,000 VND/kg.
Regarding rice, it is noted that in localities, demand is quite high, prices are high, traders are slow to sell, and offer high prices. In Can Tho, farmers offer many offers, transactions are slow. In Kien Giang, rice prices are stable, traders ask to buy a lot, mainly buying rice near the harvest date.
Specifically, according to the update from the Department of Agriculture and Rural Development of An Giang province, today's rice prices have been adjusted compared to yesterday, IR 50404 prices fluctuate around 7,800 - 8,000 VND/kg; Dai Thom 8 rice is at 8,400 - 8,500 VND/kg; OM 5451 rice is at 8,000 - 8,200 VND/kg; OM 18 rice is at 8,500 - 8,700 VND/kg; OM 380 rice fluctuates at 7,800 - 8,000 VND/kg; Nhat rice is at 7,800 - 8,000 VND/kg and Nang Nhen rice (dry) is at 20,000 VND/kg.
Accordingly, the glutinous rice market recorded no adjustment compared to yesterday. IR 4625 glutinous rice (fresh) 7,800 - 7,900 VND/kg, stable compared to yesterday. An Giang glutinous rice (fresh) 7,000 - 7,200 VND/kg, unchanged compared to yesterday.
By-products today recorded no adjustment compared to yesterday. Currently, the price of OM 5451 broken rice remains at 9,500 - 9,600 VND/kg; the price of dry bran remains at 7,200 - 7,300 VND/kg.
In the export market, Vietnam's rice export prices have been adjusted compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice is at 440 USD/ton; 5% broken rice is at 575 USD/ton; and 25% broken rice is at 539 USD/ton.
The Vietnam Food Association (VFA) reported that Vietnam's rice export prices are rising, with 5% broken rice trading at $575 per tonne, $14 per tonne higher than Thailand and $34 per tonne higher than Pakistan.
Vietnam's 25% broken rice also recorded an increase, reaching 539 USD/ton, surpassing Thailand's 27 USD/ton and Pakistan's 22 USD/ton.
A VFA leader emphasized that Vietnamese rice prices are currently the highest compared to leading rice exporting countries, marking a strong recovery after the bidding incident in Indonesia.
Mr. PCT, owner of a rice factory in Long An, said that in August, many customers from the Philippines and China came to Vietnam to discuss large purchase contracts.
As the Philippines reduces rice import tax from 35% to 15%, businesses are increasing rice imports to prepare for the year-end market, with China as the main customer.
Many other businesses also reported that demand for rice imports is increasing in most countries due to the market's excitement at the end of the year.
