Rice prices today, August 20, 2024: Paddy prices increase, milled rice prices decrease.
Today, August 20, 2024, rice prices in the domestic market have decreased by 50-100 VND/kg for some types of rice. The rice market is sluggish, with prices remaining high.
In the Mekong Delta region, rice prices today decreased slightly by 50 to 100 VND/kg. The local rice market has low supply, but prices and transactions remain stable.
In An Cu (Soc Trang), transactions are slow, the amount of rice purchased at the market is small, and most of it is of poor quality. In Sa Dec (Dong Thap), the amount of rice arriving is small and warehouses are buying slowly, leading to a downward price trend.
The price of IR 504 summer-autumn rice has decreased to 11,700 - 11,800 VND/kg, down 50 - 100 VND/kg compared to yesterday.
The price of finished IR 504 rice has decreased to 13,800 - 13,900 VND/kg, a drop of 50 VND/kg.
At local markets, rice prices remained unchanged, with Nang Nhen rice having the highest price at 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, white rice 15,000 - 16,000 VND/kg, Thai fragrant long-grain rice 20,000 - 21,000 VND/kg, Huong Lai rice and Soc Thai rice 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, observations in various localities show that demand is quite high, prices remain high, and traders are slow to sell, resulting in high prices. In Can Tho, farmers are offering a lot of rice for sale, but transactions are slow. In Kien Giang, rice prices are stable, and traders are inquiring about buying a lot, mainly for rice close to the harvest date.
Specifically, according to updates from the Department of Agriculture and Rural Development of An Giang province, today's rice prices have been adjusted compared to yesterday. IR 50404 rice is priced around 7,800 - 8,000 VND/kg; Dai Thom 8 rice is priced at 8,400 - 8,500 VND/kg; OM 5451 rice is priced at 8,000 - 8,200 VND/kg; OM 18 rice is priced at 8,500 - 8,700 VND/kg; OM 380 rice is priced at 7,800 - 8,000 VND/kg; Nhat rice is at 7,800 - 8,000 VND/kg and Nang Nhen (dried) rice is at 20,000 VND/kg.
Accordingly, the glutinous rice market showed no adjustments compared to yesterday. IR 4625 glutinous rice (fresh) remained stable at 7,800 - 7,900 VND/kg compared to yesterday. An Giang glutinous rice (fresh) remained unchanged at 7,000 - 7,200 VND/kg compared to yesterday.
By-product prices today remain unchanged compared to yesterday. Currently, the price of OM 5451 broken rice is at 9,500 - 9,600 VND/kg; the price of dry rice bran remains at 7,200 - 7,300 VND/kg.
On the export market, Vietnamese rice export prices have been adjusted compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice is priced at US$440/ton; standard 5% broken rice at US$575/ton; and 25% broken rice at US$539/ton.
The Vietnam Food Association (VFA) reports that Vietnamese export rice prices are rising, with 5% broken rice trading at $575 per ton, $14 per ton higher than Thailand and $34 per ton higher than Pakistan.
Vietnamese 25% broken rice also recorded an increase, reaching $539/ton, surpassing Thailand by $27/ton and Pakistan by $22/ton.
A VFA leader emphasized that Vietnamese rice prices are currently the highest compared to other leading rice exporting countries, marking a strong recovery after the bidding incident in Indonesia.
Mr. PCT, the owner of a rice mill in Long An, said that in August, many customers from the Philippines and China came to Vietnam to discuss purchasing large contracts.
Due to the Philippines reducing import tariffs on rice from 35% to 15%, businesses are increasing rice imports to prepare for the year-end market, with China being the main customer.
Many other businesses also report that demand for rice imports is increasing in most countries due to the bustling market at the end of the year.
