Rice prices today, August 24, 2024: Paddy prices decrease, milled rice prices remain stable.

Rice prices today, August 24, 2024

The rice market situation in the Mekong Delta today: supply is low, prices are stable, and purchasing activity is slow.

The price of IR 504 summer-autumn raw 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 28,000 VND/kg. Jasmine rice at 18,000 - 20,000 VND/kg. Nang Hoa rice at 20,000 VND/kg. White rice at 15,000 - 16,000 VND/kg. Long-grain fragrant rice at 20,000 - 21,000 VND/kg. Huong Lai rice at 20,000 VND/kg. Taiwanese fragrant rice at 21,000 VND/kg. Common white rice at 17,000 VND/kg. Regular Soc rice at 18,500 VND/kg. Soc Thai rice at 20,000 VND/kg. Japanese rice at 22,000 VND/kg.

Rice prices today, August 24, 2024

The Mekong Delta region is witnessing a slight decrease in demand for paddy rice, with dry paddy transactions slow and few buyers. Dry paddy rice of the Summer-Autumn and Winter-Spring seasons is currently scarce and prices have decreased slightly.

According to information from the Department of Agriculture and Rural Development of An Giang province: The current price of IR 50404 rice ranges from 7,800 to 8,000 VND/kg. Dai Thom 8 rice is priced from 8,400 to 8,600 VND/kg. OM 5451 rice is priced from 8,200 to 8,400 VND/kg. OM 18 rice is priced from 8,500 to 8,700 VND/kg. OM 380 rice is priced from 7,600 to 7,800 VND/kg, a decrease of 200 VND/kg compared to before. Nhat rice is priced from 7,800 to 8,000 VND/kg. Nang Nhen (dried) rice is priced at 20,000 VND/kg.

The glutinous rice market maintained stable prices compared to yesterday: IR 4625 glutinous rice (fresh) was priced from 7,500 - 7,650 VND/kg. An Giang glutinous rice (fresh) was priced from 7,000 - 7,200 VND/kg.

By-product prices today, August 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 9,400 - 9,600 VND/kg and dry bran at 7,150 - 7,250 VND/kg.

Today's export rice prices (August 24, 2024)

On the export market, Vietnamese rice prices increased slightly compared to yesterday, with 100% broken rice priced at $440/ton. Standard 5% broken rice was priced at $578/ton. 25% broken rice was priced at $544/ton, an increase of $3/ton.

Vietnam's export volume to the EU remains low, accounting for just over 2% of the market, including agricultural products. Since the EVFTA was implemented, the utilization rate of preferential treatment from this agreement has only reached 20%, indicating significant potential for increasing agricultural exports to the EU.

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

Rice is a standout product that has benefited from the EVFTA, with 104,000 tons exported to the EU in 2023, worth $71.7 million, a 10% increase compared to 2022.

Rice exports to the EU have exceeded the 80,000-ton/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 their strong growth, reaching 46,000 tons and worth $41.4 million, an increase of nearly 118% compared to 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.