Rice price today November 29, 2024: Stable, Vietnam's rice export price maintains its leading position

Domestic rice price

Current rice prices fluctuate as follows: IR 50404 rice (fresh) from 7,600 - 7,800 VND/kg, OM 5451 rice from 7,800 - 8,000 VND/kg, OM 18 rice (fresh) from 8,800 - 9,000 VND/kg. Japanese rice and Dai Thom 8 rice (fresh) are priced from 7,800 - 8,000 VND/kg and 8,800 - 9,100 VND/kg.

In many localities, rice transactions are slow, with small volumes and stable prices. In Long An and Dong Thap, demand for Autumn-Winter rice is slow, but prices remain stable. In An Giang and Kien Giang, fragrant rice transactions are sporadic, while Soc Trang has a better harvest but transactions are not active.

The price of IR 504 raw rice decreased slightly, ranging from 10,200 - 10,300 VND/kg, while the price of IR 504 finished rice was at 12,300 - 12,400 VND/kg.

In localities, rice volume is low and transactions are stable. Normal rice costs from 16,000 - 17,000 VND/kg, Nang Nhen rice is the highest at 28,000 VND/kg, fragrant rice is from 20,000 - 22,000 VND/kg, Jasmine rice is from 17,000 - 18,000 VND/kg.

For by-products, prices range from 5,700 - 9,400 VND/kg. Fragrant rice bran prices decreased by 100 VND/kg, ranging from 9,200 - 9,400 VND/kg, while bran prices range from 5,700 - 5,800 VND/kg.

Export rice price

In the export market, Vietnam's rice export prices remained stable today. 100% broken rice is currently priced at 410 USD/ton, 5% standard rice at 520 USD/ton and 25% broken rice at 485 USD/ton.

According to Mr. Nguyen Van Nghia, Deputy Director of the Department of Agriculture and Rural Development of Kien Giang province, the province currently has about 395 thousand hectares of rice land, accounting for 62% of the natural area. Rice has long been a staple crop, with an annual output of over 4.4 million tons. In 2024 alone, the province's rice output is estimated to reach 4.6 million tons, accounting for nearly 20% of the rice output of the Mekong Delta region.

In recent years, Kien Giang has faced many challenges from natural disasters, climate change, rising sea levels and saltwater intrusion. These factors, along with limitations in agricultural production linkages, have led to frequent occurrences of “good harvest, low prices; good prices, bad harvest”. This has become a heavy burden for local people and authorities.

Decision No. 1490 of the Prime Minister approving the Project “Sustainable development of 1 million hectares of high-quality, low-emission rice cultivation associated with green growth in the Mekong Delta by 2030” is expected to help reorganize the production system according to the value chain. This project aims to apply sustainable farming processes, increase production and business efficiency, improve income and life of rice farmers, protect the environment, adapt to climate change, and reduce greenhouse gas emissions.

Within the framework of the Project, Kien Giang has implemented two pilot models in two different ecological regions under the direction of the Ministry of Agriculture. One model implemented in Tan Hiep district has shown positive results. Productivity reached from 5.0 to 5.43 tons/ha depending on the method, about 340 kg/ha higher than the control (4.89 tons/ha). Costs were reduced by 3.3 million VND/ha, profits increased by more than 6 million VND/ha, and emissions were reduced by 7.56 to 8.11 tons CO2eq/ha.

Another model with an area of ​​10 hectares on shrimp-rice land in Dong Thanh commune, An Minh district, is currently in the rice heading and flowering stage, with good growth and development. The special feature of the model is the demonstration of synchronous mechanization in the rice sowing process.

Kien Giang province aims to implement the Project by 2025 with an area of ​​100,000 hectares and expand to 200,000 hectares by 2030. In particular, the province strives to complete these goals 1 year earlier than planned.