Rice price today September 26, 2024: All prices slightly decreased from 100 VND/kg

Rice price today 9/26/2024

Market prices for rice have changed compared to yesterday. Specifically, the price of raw IR 504 Summer-Autumn rice is currently 10,500 - 10,700 VND/kg, a slight decrease of 100 - 250 VND/kg. Finished IR 504 rice also decreased by 100 VND/kg, with the current price being 13,000 - 13,100 VND/kg.

In retail markets, rice prices have not changed. Nang Nhen rice is currently priced at VND28,000/kg. Other types of rice are priced as follows: Jasmine rice from VND18,000 - 20,000/kg, Nang Hoa rice 20,000/kg, regular rice from VND15,000 - 16,000/kg, long-grain fragrant rice from VND20,000 - 21,000/kg, and Huong jasmine rice 18,000/kg. Other types of rice such as Taiwanese fragrant rice, common white rice, Soc regular rice, Soc Thai rice, and Japanese rice are priced from VND17,000 to VND22,000/kg.

Rice price today 9/26/2024

In An Giang and Kien Giang, the purchase of new rice is slow and prices are low. In Dong Thap, the demand for good rice is high, buyers choose good rice with stable prices.

According to information from the Department of Agriculture and Rural Development of An Giang province, today's rice price has been adjusted compared to yesterday.

IR 50404 rice costs from 7,300 to 7,500 VND/kg.

Dai Thom 8 rice costs from 8,000 to 8,200 VND/kg.

OM 5451 rice costs from 7,600 to 7,900 VND/kg. OM 18 rice costs from 7,800 to 8,000 VND/kg. OM 380 rice costs from 7,300 to 7,600 VND/kg, down 200 VND compared to before.

Japanese rice costs from 7,800 to 8,000 VND/kg.

Dried Nang Nhen rice costs 20,000 VND/kg.

By-product price today 9/26/2024

The current price of by-products is around 5,800 to 8,600 VND/kg. Specifically, the price of OM 5451 plate is currently 8,600 to 8,700 VND/kg, an increase of 100 VND/kg.

The price of dry bran also increased by 100 VND/kg, with the current price being 5,900 to 6,000 VND/kg.

Meanwhile, the price of sticky rice remained unchanged from yesterday. Long An IR 4625 sticky rice (dry) was stable at VND9,600 to VND9,800 per kg. Long An 3-month sticky rice (dry) was priced at VND9,800 to VND9,900 per kg.

Rice export price today

In the export market, Vietnamese rice prices have also been adjusted. According to the Vietnam Food Association, the price of 100% broken rice is currently $454/ton; 5% standard rice is $565/ton, down $2; and 25% broken rice is $535/ton, also down $2.

Vietnam has won a contract to supply 59,000 tonnes of rice to Indonesia, after agreeing to lower the price from the initial offer.

In the tender for the import of 450,000 tons of rice from Indonesia, there were 15 lots (Lot is a standardized unit quantity of an asset traded - specifically rice). Vietnam, Myanmar, Pakistan, Thailand and Cambodia were selected to supply rice.

Vietnam won the bid for two lots: Lot 3 with 30,650 tons and Lot 5 with 28,350 tons.

According to information from KTSG Online, Vietnam won 2 lots out of 15 lots, Myanmar won 4 lots, Pakistan won 8 lots and Thailand won 1 lot.

Vietnam’s King Green Natural Food Joint Stock Company (Vua Gao) won the bid at $548/ton for both lots it bid for. Vua Gao reduced its selling price to $18.9/ton after negotiating with Indonesia, from its initial price of $566.9/ton.

Other countries have also cut their rice prices to win bids in Indonesia. For example, Myanmar has cut its price from $554.8 per ton to $550 per ton, and Pakistan has also cut its price to $554.7 per ton.

Thailand won the contract at $574/tonne, down $12.49/tonne from the initial offer, while Myanmar had the lowest bid at $539/tonne.

Most of Vietnam’s rice deals with Indonesia have required discounts to win. Some Vietnamese companies have been criticized for selling rice at too low a price.

As of mid-September 2024, Vietnam had exported nearly 6.5 million tons of rice, worth more than 4 billion USD, up 6.2% in volume and 21.2% in value over the previous year.

In the first 8 months of 2024, Indonesia was Vietnam's second largest rice export market, with a total export volume of nearly 914,000 tons, worth about 558 million USD, up 27% in volume and 54% in value over the same period last year.