Rice prices today, November 26, 2024: No change.

Domestic rice prices

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

In various localities, the price of high-quality raw rice remains stable, while the price of fragrant rice tends to be higher. Specifically, in Sa Dec (Dong Thap), the average price of high-quality raw rice is stable. In Lap Vo (Dong Thap), rice prices are also stable despite low supply. Meanwhile, in An Cu (Cai Be, Tien Giang), rice prices have not changed much, with most being low-quality rice and few high-quality rice.

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

At retail markets, rice prices today haven't changed much compared to yesterday. Regular rice ranges from 16,000 to 17,000 VND/kg, while Nang Nhen rice is the most expensive at 28,000 VND/kg. Fragrant rice varieties are priced from 20,000 to 22,000 VND/kg, Jasmine rice from 17,000 to 18,000 VND/kg, and Nang Hoa rice at 21,500 VND/kg. Other fragrant rice varieties such as Thai long-grain, Huong Lai, Taiwanese, Soc Thai, and Japanese rice are priced from 20,000 to 22,500 VND/kg respectively.

Regarding rice prices, 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; OM 5451 rice is at 7,600 to 7,800 VND/kg; OM 380 rice is priced at approximately 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, rice harvested from paddy fields has begun to ripen. In Soc Trang, rice harvesting is trending upwards, especially in Chau Thanh. However, in An Giang, demand for autumn-winter rice is slowing down and mainly consists of previously signed contracts.

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

Export rice prices

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

In the Asian market, Thai export rice prices reached their highest level in a month due to strong foreign demand. Meanwhile, Indian rice prices remained stable near their lowest level in 15 months due to abundant supply.

According to a Bangkok trader, export activity has enlivened the market, with strong demand from regular customers such as the Philippines, Indonesia, and other Asian countries. Thailand's rice exports in the period from January to October 2024 increased by 20% compared to the same period last year.

Thai 5% broken rice has risen to $500/tonne, its highest level in a month, up from $490-495/tonne last week. Some traders said the price increase was due to exchange rate fluctuations and forecasts that prices will become more competitive towards the end of the year as Indian rice prices continue to fall.

Indian parboiled rice with 5% broken grains is currently quoted at $440-447 per ton, the lowest level since July 2023. An exporter in Mumbai said buyers are delaying purchases, expecting further increases in supply and potentially lower prices.

India has abolished export duties on parboiled rice and removed the $490/tonne floor price for non-Basmati white rice to boost exports. As of November 2024, India's rice reserves had reached an all-time high.