Rice prices today, October 23, 2024: Increased by 50-100 VND/kg for both paddy and milled rice.

Rice prices today, October 23, 2024

Rice prices on the market have changed compared to yesterday. Specifically, raw IR 504 summer-autumn rice is now priced from 10,500 to 10,750 VND/kg, an increase of 50 VND/kg. Finished IR 504 rice is priced from 12,650 to 12,800 VND/kg, also an increase of 50 VND/kg.

At retail markets, rice prices have also been adjusted as follows:

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

Common white rice prices increased by 500 VND/kg, reaching 17,500 VND/kg.

Other types of rice are priced between 15,000 and 23,000 VND/kg depending on the variety.

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

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

Rice prices today, October 23, 2024

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

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

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

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

OM 18 rice prices remain unchanged, ranging from 7,500 to 7,800 VND/kg.

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

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

In particular, dried Nàng Nhen rice fetches the highest price, at 20,000 VND/kg.

By-product prices today, October 23, 2024

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

The glutinous rice market remains stable compared to yesterday. Long An IR 4625 glutinous rice (dry) is priced at 9,600 - 9,800 VND/kg, and Long An 3-month glutinous rice (dry) maintains a price of 9,800 - 10,000 VND/kg.

Export rice prices

On the export market, Vietnamese rice prices remained unchanged compared to yesterday. 100% broken rice was priced at US$439/ton. Standard 5% broken rice was priced at US$534/ton. 25% broken rice was priced at US$506/ton.

In late September, India eased restrictions on white rice exports, increasing global supply and driving down export prices for rice from Vietnam, Thailand, and Pakistan. According to the Vietnam Food Association (VFA), despite the general downward trend in Vietnamese rice prices, the price of 5% broken rice from Vietnam still reached US$534 per ton (US$30 per ton higher than Thailand), maintaining its position as the highest in the world. Vietnamese rice, thanks to its delicious taste and freshness, is more favored by consumers.

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

Despite India reopening its rice exports, Vietnam's premium products such as fragrant rice, sticky rice, and ST25 rice remain largely unaffected 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 rice segment continues to thrive.

The above factors indicate that the target of exporting 8 million tons of rice this year is entirely feasible. The Ministry of Industry and Trade recommends that businesses closely monitor the market to develop appropriate export policies, avoiding signing contracts at all costs, which could affect business efficiency in the context of unpredictable world rice prices.