Rice price today October 29, 2024: Remains stable
Rice prices today October 29, 2024: Domestic prices remain stable. Market transactions are slow, warehouse purchases are low. Export rice prices remain high
Rice price today October 29, 2024
In the rice market, today's rice prices remain unchanged compared to yesterday. Specifically, the price of raw IR 504 Summer-Autumn rice is at 10,500 - 10,600 VND/kg, while the price of finished IR 504 rice is 12,600 - 12,700 VND/kg.
At retail markets, rice prices have not been adjusted. Nang Nhen rice currently has the highest price of 28,000 VND/kg. Prices of regular rice range from 15,000 - 16,000 VND/kg, while fragrant rice is priced from 17,000 - 23,000 VND/kg. Specifically, Jasmine rice is from 17,000 - 18,000 VND/kg; Nang Hoa rice is 21,500 VND/kg; regular rice is about 15,000 - 16,000 VND/kg; long-grain Thai fragrant rice is from 20,000 - 22,000 VND/kg; Huong Lai rice is 23,000 VND/kg; Taiwanese fragrant rice is 21,000 VND/kg; regular Soc rice is 18,500 VND/kg; Thai Soc rice is 21,000 VND/kg; and Japanese rice 22,000 VND/kg.
Rice price today October 29, 2024
In localities such as Soc Trang and Dong Thap, transactions are currently slow, with low purchase reserves, but prices remain stable.
According to information from the Department of Agriculture and Rural Development of An Giang province, today's rice prices have not changed compared to yesterday. Specifically, the price of IR 50404 rice ranges from 6,700 to 7,000 VND/kg; Dai Thom 8 rice ranges from 7,800 to 8,000 VND/kg; OM 5451 rice ranges from 7,200 to 7,500 VND/kg; OM 18 rice ranges from 7,200 to 7,300 VND/kg; OM 380 rice ranges from 7,000 to 7,200 VND/kg; Nhat rice ranges from 7,800 to 8,000 VND/kg; and Nang Nhen rice (dry) costs 20,000 VND/kg.
By-product price today October 29, 2024
Regarding by-products, the prices of by-products are currently fluctuating from 6,100 - 9,600 VND/kg. Specifically, the price of OM 5451 broken rice remains at 9,500 - 9,600 VND/kg, unchanged from yesterday, and the price of dry bran is also stable at 6,100 - 6,200 VND/kg.
Regarding the sticky rice market, prices have not changed. Long An IR 4625 sticky rice (dry) is priced at 9,600 - 9,800 VND/kg, while Long An 3-month sticky rice (dry) is priced at 9,800 - 10,000 VND/kg, both unchanged from yesterday.
Rice export price today
Vietnam’s rice export prices have also remained unchanged. According to the Vietnam Food Association, the price of 100% broken rice is $432 per ton, 5% standard rice is $531 per ton, and 25% broken rice is $503 per ton.
KD Trading Kevin Le, an overseas Vietnamese company, has successfully brought Vietnam's ST25 rice to the Canadian market - one of the countries with high quality requirements. ST25 rice, which twice won the world's best rice award in 2019 and 2023, has given the company confidence to penetrate this market.
Although Canada is not yet a major market for Vietnamese rice, success in this demanding market will open up opportunities for Vietnamese rice to access other markets around the world. Currently, premium rice and fragrant rice account for about 50% of exports, in line with the goal of improving quality instead of focusing only on quantity.
Mr. Hoang Trong Thuy, an agricultural expert, commented that rice exports are still a bright spot in the economy. He recommended that businesses closely monitor market trends and consumer demand to seize opportunities in niche markets.
