Rice prices today, November 25, 2024: Remaining stable.

Domestic rice prices

Rice prices in the Mekong Delta region remained stable today.

According to updates from the Department of Agriculture and Rural Development of An Giang province, the price of IR 50404 rice (fresh) ranges from 7,600 to 7,800 VND/kg, while OM 5451 rice is priced similarly from 7,600 to 7,800 VND/kg. OM 380 rice is priced at around 7,000 VND/kg, and OM 18 rice (fresh) is priced from 8,500 to 8,600 VND/kg.

Other rice varieties such as Nang Hoa 9, Japanese rice, and Dai Thom 8 (fresh) are priced at 8,400 - 8,600 VND/kg, 7,800 - 8,000 VND/kg, and 8,600 - 8,800 VND/kg respectively.

In many localities, dried fragrant rice is in low demand and of inconsistent quality, requiring careful selection by warehouses. Autumn-winter rice prices are currently stable, but demand remains quite slow.

In Dong Thap, rice supply is scarce because most has already been reserved, causing rice prices to stagnate. Farmers are offering their rice for sale, but there are few buyers.

In An Giang and Long An, the situation is similar, with low demand for autumn-winter rice, and most buyers are accepting rice that has already been deposited.

Over the past week, rice prices have fluctuated slightly. Raw IR 504 rice is currently priced between 10,350 and 10,500 VND/kg, while finished IR 504 rice is priced between 12,450 and 12,550 VND/kg.

However, rice trading in the localities is slow, and much of the rice is of poor quality.

In Lap Vo (Dong Thap), substandard rice predominates, and the quality of rice batches has not improved.

In Sa Dec and Cai Be, the situation is similar, with a large quantity of substandard rice and inconsistent rice quality.

At local markets, rice prices remain stable. Nang Nhen rice is the most expensive at 28,000 VND/kg. Other varieties such as fragrant rice, Jasmine rice, Nang Hoa rice, and Thai rice range in price from 17,000 to 22,500 VND/kg depending on the type.

Prices for by-products such as fragrant rice bran and dried rice bran range from 6,000 to 9,400 VND/kg. Currently, fragrant rice bran is priced between 9,300 and 9,400 VND/kg, while dried rice bran costs between 5,950 and 6,100 VND/kg.

Export rice prices

On the export market, rice prices have remained relatively stable. The price of 100% broken rice is currently $410 per ton, while standard 5% broken rice is priced at $522 per ton. These prices are higher than those of other countries such as Thailand, India, and Pakistan. Vietnamese rice continues to maintain its strong position among major rice exporting countries.

India's lifting of its rice export ban at the end of October caused a sharp drop in international rice prices, especially for 5% broken rice from Pakistan and Thailand. However, Vietnamese rice prices rebounded from November 21st, reaching $522 per ton.

In Vietnam, rice prices among farmers have also risen again due to limited supply. The price of rice at warehouses is currently 500 VND/kg higher than last week, reaching over 9,200 VND/kg. Rice purchasing businesses report that the supply of rice from the Autumn-Winter crop has decreased significantly, from 1,000-1,500 tons per day to only 300-500 tons. Vietnamese export rice prices continue to rise, thanks to the quality of its fragrant and sticky rice, giving it a superior competitive edge compared to other countries.

The Department of Crop Production (Ministry of Agriculture and Rural Development) forecasts this year's rice production to reach approximately 43 million tons, sufficient for domestic needs and exports of over 8 million tons. Export revenue is expected to exceed 5 billion USD, the highest ever, affirming the position of Vietnamese rice in the international market.