Rice price today August 24, 2024: Rice price decreases, rice price is stable

Rice price today 8/24/2024

Rice market situation in the Mekong Delta today: low supply, stable prices, slow purchasing activities.

The price of raw IR 504 Summer-Autumn rice is currently 11,500 - 11,600 VND/kg, unchanged from yesterday. The price of finished IR 504 rice remains at 13,550 - 13,650 VND/kg.

Rice prices at retail markets remain unchanged, with Nang Nhen rice priced at VND28,000/kg. Jasmine rice priced at VND18,000 - 20,000/kg. Nang Hoa rice priced at VND20,000/kg. Regular rice priced at VND15,000 - 16,000/kg. Long-grain fragrant rice priced at VND20,000 - 21,000/kg. Jasmine rice priced at VND20,000/kg. Taiwanese fragrant rice priced at VND21,000/kg. Common white rice priced at VND17,000/kg. Regular Soc rice priced at VND18,500/kg. Thai Soc rice priced at VND20,000/kg. Japanese rice priced at VND22,000/kg.

Rice price today 8/24/2024

The Mekong Delta region has seen a slight decrease in demand for paddy, with dry paddy transactions slow and few buyers. Summer-Autumn and Winter-Spring dry paddy are currently in low supply and prices have slightly decreased.

According to information from the Department of Agriculture and Rural Development of An Giang province: The price of IR 50404 rice currently fluctuates from 7,800 - 8,000 VND/kg. Dai Thom 8 rice costs from 8,400 - 8,600 VND/kg. OM 5451 rice costs from 8,200 - 8,400 VND/kg. OM 18 rice costs from 8,500 - 8,700 VND/kg. OM 380 rice costs from 7,600 - 7,800 VND/kg, down 200 VND/kg compared to before. Japanese rice costs from 7,800 - 8,000 VND/kg. Nang Nhen rice (dry) costs 20,000 VND/kg.

The price of sticky rice market remains stable compared to yesterday: IR 4625 sticky rice (fresh) is priced from 7,500 - 7,650 VND/kg. An Giang sticky rice (fresh) is priced from 7,000 - 7,200 VND/kg.

By-product price today 8/24/2024

Prices of by-products such as OM 5451 broken rice and dry bran remained unchanged compared to yesterday, with OM 5451 broken rice priced at VND9,400 - VND9,600/kg and dry bran priced at VND7,150 - VND7,250/kg.

Export rice price today 8/24/2024

In the export market, Vietnamese rice prices increased slightly compared to yesterday, 100% broken rice was priced at 440 USD/ton. Standard 5% broken rice was priced at 578 USD/ton. 25% broken rice was priced at 544 USD/ton, up 3 USD/ton.

Vietnam's export rate to the EU is still low, accounting for just over 2% of the market, including agricultural products. Since the EVFTA was implemented, the rate of taking advantage of incentives from this agreement has only reached 20%, showing that the potential to increase agricultural exports to the EU is still large.

In the four years since the EVFTA took effect, the value of Vietnam's exports to the EU has reached nearly 170 billion USD, an increase of nearly 50%. Agricultural products are one of the main export sectors to the EU, with an average annual growth rate of 15%.

Rice is a prominent product that has taken advantage of incentives from EVFTA, with 104,000 tons exported to the EU in 2023, worth 71.7 million USD, up 10% compared to 2022.

Rice exports to the EU have exceeded the 80,000 tonnes/year quota under the EVFTA for two consecutive years, and have reached 26 out of 27 EU member states.

In the first quarter of this year, rice exports to the EU continued to grow strongly, with 46,000 tons and a turnover of 41.4 million USD, up nearly 118% over the same period last year.

Although the EU does not account for a large proportion of Vietnam's total rice exports, it is a market willing to pay high prices for quality products, such as ST25 rice, which is popular in many EU member countries.