Rice price today November 26, 2024: No fluctuations

Domestic rice prices

Rice prices in the Mekong Delta region remained stable today, after slight fluctuations last week.

In localities, the price of good quality raw rice remains stable, while the price of fragrant rice tends to be higher. Specifically, in Sa Dec (Dong Thap), good quality raw rice remains at an average price. In Lap Vo (Dong Thap), the price of rice is also stable despite the lack of rice. Meanwhile, in An Cu (Cai Be, Tien Giang), the price of rice has not changed much, with most of the rice being weak, with little good quality rice.

According to information from the Department of Agriculture and Rural Development of An Giang province, the price of raw IR 504 rice ranges from 10,350 to 10,500 VND/kg, while finished IR 504 rice costs from 12,450 to 12,550 VND/kg.

At retail markets, rice prices today have not changed much compared to yesterday. Regular rice ranges from 16,000 to 17,000 VND/kg, while Nang Nhen rice has the highest price of up to 28,000 VND/kg. Fragrant rice ranges from 20,000 to 22,000 VND/kg, Jasmine rice from 17,000 to 18,000 VND/kg, and Nang Hoa rice costs 21,500 VND/kg. Other fragrant rice varieties such as Thai long grain, Huong Lai, Taiwan, Soc Thuong, Soc Thai and Nhat rice cost from 20,000 to 22,500 VND/kg, respectively.

Regarding rice prices, according to the update 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; OM 5451 rice is at 7,600 to 7,800 VND/kg; OM 380 rice is priced at around 7,000 VND/kg. OM 18 rice (fresh) is priced from 8,500 to 8,600 VND/kg, while Nang Hoa 9 rice is priced from 8,400 to 8,600 VND/kg. Japanese rice and Dai Thom 8 rice (fresh) are priced at 7,800 to 8,000 VND/kg and 8,600 to 8,800 VND/kg, respectively.

Currently, in some localities, the harvested rice from the fields has begun to ripen. In Soc Trang, the harvested rice is on the rise, especially in Chau Thanh. However, in An Giang, the demand for Autumn-Winter rice is slowing down and is mainly for previously signed contracts.

Regarding the price of by-products, the current prices of by-products range from 6,000 to 9,400 VND/kg. Fragrant rice bran costs from 9,300 to 9,400 VND/kg, while dry bran costs from 5,950 to 6,100 VND/kg.

Export rice price

In the first half of November 2024, Vietnam exported 293,484 tons of rice, bringing the country's total rice export volume as of November 15 to 8.05 million tons, worth 5.05 billion USD.

In Asia, Thai rice export prices hit a one-month high on strong overseas demand, while Indian rice prices remained steady near a 15-month low due to ample supplies.

Exports have buoyed the market, with strong demand from regular buyers such as the Philippines, Indonesia and other Asian countries, with Thai rice exports rising 20% ​​in the January-October period from a year earlier, according to a Bangkok-based trader.

Thailand’s 5% broken rice rose to $500 a tonne, its highest in a month, from $490-$495 last week. Some traders said the price increase was due to exchange rates and expected prices to become more competitive later in the year as Indian rates continue to fall.

India’s 5% broken parboiled variety is currently quoted at $440-$447 a tonne, its lowest since July 2023. A Mumbai-based exporter said buyers are holding off on purchases, expecting further supply and prices to fall further.

India has scrapped export duty on parboiled rice and removed the floor price of $490 per tonne for non-Basmati white rice to boost exports. As of November 2024, India’s rice stocks had reached an all-time high.