Rice prices today, August 29, 2024: Mixed fluctuations

Rice prices today, August 29, 2024

The rice market situation in the Mekong Delta today shows limited supply and uneven quality, with fewer high-quality rice available and slow trading, leading to a downward price trend.

The price of IR 504 summer-autumn rice is currently 11,450 - 11,550 VND/kg, down 50 - 100 VND compared to yesterday. Finished IR 504 rice also decreased by 50 VND, down to 13,450 - 13,550 VND/kg.

At retail markets, rice prices remain unchanged, with Nang Nhen rice being the most expensive at 28,000 VND/kg. Other varieties such as Jasmine rice are priced from 18,000 - 20,000 VND/kg, Nang Hoa rice at 20,000 VND/kg, and regular white rice at around 15,000 - 16,000 VND/kg. Fragrant rice varieties such as long-grain Thai fragrant rice, Huong Lai rice, and Taiwanese fragrant rice are priced from 20,000 - 21,000 VND/kg. Common white rice and regular Soc rice are priced at 17,000 VND/kg and 18,500 VND/kg respectively, while Thai Soc rice and Japanese rice are priced at 20,000 VND/kg and 22,000 VND/kg.

Rice prices today, August 29, 2024

Rice prices increased slightly by 100 VND/kg today.

According to the Department of Agriculture and Rural Development of An Giang province, the current price of IR 50404 rice is 7,900 - 8,000 VND/kg, an increase of 100 VND compared to yesterday.

Dai Thom 8 rice is priced from 8,600 to 8,800 VND/kg.

OM 5451 rice is priced from 8,200 to 8,400 VND/kg. OM 18 rice is sold at 8,600 - 8,800 VND/kg. OM 380 rice is priced from 7,600 to 7,800 VND/kg.

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

Dried Nàng Nhen rice fetches the highest price at 20,000 VND/kg.

By-product prices today, August 29, 2024

Glutinous rice prices remain unchanged compared to yesterday, with IR 4625 glutinous rice priced from 7,400 to 7,600 VND/kg and An Giang glutinous rice priced from 7,000 to 7,200 VND/kg.

By-products such as OM 5451 broken rice remained stable at 9,400 - 9,500 VND/kg, while the price of dry rice bran decreased by 100 VND, down to 6,900 - 7,050 VND/kg.

Today's export rice prices (August 29, 2024)

Vietnam's export rice prices remain unchanged compared to yesterday, with 100% broken rice at $440/ton, standard 5% broken rice at $579/ton, and 25% broken rice at $547/ton.

Rice businesses in Can Tho report receiving numerous new orders from the Philippines and China, as well as interest from African countries due to supply disruptions from India and Thailand.

From September to December, rice exports are expected to continue increasing in both volume and value. Vietnam is expanding its export markets to the Middle East, Africa, South America, Japan, and South Korea, with the expectation of exporting 8 million tons and earning over $5 billion this year.

International factors support a bright future for Vietnamese rice exports by the end of 2024, with the Philippines' tariff reduction policy and opportunities arising from international supply uncertainties.

Businesses are encouraged to take advantage of this opportunity to increase production and quality, in order to build the brand of Vietnamese rice in the global market.

The strong growth in domestic and export rice prices offers positive prospects for Vietnam's agricultural sector, driven by high demand from international markets and improved product quality.