Rice price today October 23, 2024: Increase 50 - 100 VND/kg for both paddy and rice

Rice price today 10/23/2024

The market price of rice has changed compared to yesterday. Specifically, IR 504 Summer-Autumn raw rice is currently priced from 10,500 to 10,750 VND/kg, an increase of 50 VND/kg. IR 504 finished rice is priced from 12,650 to 12,800 VND/kg, also an increase of 50 VND/kg.

At retail markets, rice prices are also adjusted as follows:

Nang Nhen rice is the most expensive at 28,000 VND/kg.

Popular white rice increased by VND500/kg, to VND17,500/kg.

Other types of rice range in price from 15,000 to 23,000 VND/kg depending on the type.

In some localities such as Soc Trang and Dong Thap, the trading market is not active, with few buyers.

In An Giang, due to the presence of low-quality rice, trading has been slow and prices have tended to decrease slightly. In Dong Thap, rice prices have decreased due to reduced demand and a sluggish market.

Rice price today 10/23/2024

According to information from the Department of Agriculture and Rural Development of An Giang province, rice prices today remain unchanged compared to yesterday.

Specifically, the price of IR 50404 rice ranges from 6,900 to 7,000 VND/kg.

Dai Thom 8 rice costs from 7,800 to 8,000 VND/kg.

The price of OM 5451 rice increased slightly, currently 7,200 - 7,400 VND/kg.

OM 18 rice price remains unchanged, from 7,500 to 7,800 VND/kg.

OM 380 rice costs from 7,200 to 7,300 VND/kg.

Japanese rice prices remain stable at 7,800 to 8,000 VND/kg.

In particular, dried Nang Nhen rice has the highest price, 20,000 VND/kg.

By-product price today 10/23/2024

The price of by-products currently ranges from 5,900 - 9,600 VND/kg. Specifically, OM 5451 broken rice costs 9,500 - 9,600 VND/kg, while dry bran costs 5,900 - 6,000 VND/kg.

The glutinous rice market remains stable compared to yesterday. Long An IR 4625 glutinous rice (dried) is priced at VND9,600 - 9,800/kg, and Long An 3-month glutinous rice (dried) remains at VND9,800 - 10,000/kg.

Export rice price

In the export market, Vietnamese rice prices remained unchanged from yesterday. 100% broken rice was priced at $439 per ton. 5% broken rice was priced at $534 per ton. 25% broken rice was priced at $506 per ton.

In late September, India eased its restrictions on white rice exports, increasing global supply and pushing down export prices of Vietnamese, Thai, and Pakistani rice. According to the Vietnam Food Association (VFA), although Vietnamese rice prices have fallen in line with the general trend, the price of 5% broken rice from Vietnam still reached $534/ton (30 USD/ton higher than Thailand), holding the highest position in the world. The quality of Vietnamese rice, thanks to its deliciousness and freshness, is more popular with consumers.

In addition, rice demand from traditional markets such as China, Indonesia, the Philippines, and Singapore is expected to increase by the end of the year. Mr. Hoang Trong Thuy, an agricultural expert, encouraged rice exporting enterprises to take advantage of opportunities from large and niche markets such as Korea, Japan, the EU, and the US.

Although India reopens its rice exports, Vietnam’s premium products such as fragrant rice, glutinous rice, and ST25 are not greatly affected, due to stable demand from Japan, Europe, and South Korea. Mr. Le Anh Nam, Deputy General Director of A An Company, affirmed that Vietnam’s premium segment is still developing well.

The above factors show that the target of exporting 8 million tons of rice this year is completely feasible. The Ministry of Industry and Trade recommends that businesses closely monitor the market to have appropriate export policies, avoid signing contracts at all costs, affecting business efficiency in the context of unpredictable world rice prices.