Rice prices today, January 3, 2025: No significant changes.

Domestic rice prices today

Observations in the provinces of Dong Thap, Tien Giang, and An Giang show that the amount of rice reaching the market is quite small, prices are relatively stable, but transactions are slow. In Sa Dec (Dong Thap), rice warehouses are buying cautiously, mainly focusing on fragrant rice with high quality standards. Similarly, in An Cu (Cai Be, Tien Giang), rice is scarce, mostly low-quality rice, prices are stable, but there are few buyers.

According to the An Giang Department of Agriculture and Rural Development, the price of IR 504 raw rice increased by 50 VND/kg, fluctuating between 9,050 and 9,200 VND/kg, while finished IR 504 rice is priced from 10,600 to 10,800 VND/kg. At retail markets, the price of common rice ranges from 17,000 to 18,000 VND/kg, while fragrant rice varieties such as Nang Nhen, Jasmine, and Huong Lai are more expensive, ranging from 20,000 to 28,000 VND/kg.

Rice prices in various localities remained stable. IR 50404 rice (fresh) was priced at 7,400 - 7,600 VND/kg, OM 5451 rice at 8,400 - 8,500 VND/kg, and Dai Thom 8 rice at 8,800 - 9,000 VND/kg. However, early winter-spring rice transactions in Dong Thap and Soc Trang were slow, with few buyers. In Bac Lieu and Kien Giang, traders mainly focused on rice already reserved, and transactions for new rice also stalled.

By-products such as fragrant broken rice and dried bran are priced between 5,900 and 8,000 VND/kg. Specifically, fragrant broken rice is priced at 7,800 - 8,000 VND/kg, while dried bran is listed at 5,900 - 6,000 VND/kg. The by-product market also reflects the overall stable trend of the rice industry.

Export rice prices

Vietnam's export rice prices remained stable today compared to yesterday. According to the Vietnam Food Association (VFA), 5% broken rice was listed at US$481/ton, 25% broken rice at US$454/ton, and 100% broken rice at US$383/ton. In 2024, Vietnam's rice exports reached a record 9 million tons, earning US$5.8 billion, an increase of 10.6% in volume and 23% in value compared to 2023.

The average export price of rice in 2024 increased by 16.7% compared to the previous year, marking an impressive breakthrough after 35 years of Vietnam's participation in rice exports. This success reflects the improved quality and added value of Vietnamese rice in the international market.

According to the US Department of Agriculture, global rice supply is projected to increase in 2025, with exports reaching 56.3 million tons, 2.3 million tons higher than in 2024. Import demand from major markets such as the Philippines, China, and Nepal is also expected to increase, thanks to anticipated lower rice prices.

In 2024, India exported over 17 million tons of rice despite export restrictions, nearly double Vietnam's output. It is projected that in 2025, India could export 21-22 million tons of rice, an increase of 5 million tons compared to 2024. This will impact the rice export market share of Vietnam and Thailand, requiring these countries to develop more effective competitive strategies.

With increasing supply and import demand, the global rice market is projected to remain vibrant in 2025. Vietnam needs to seize this opportunity to strengthen its position and enhance the value of its rice exports amidst increasingly fierce competition.