Rice prices today, August 30, 2024: Rice prices decreased slightly.

Rice prices today, August 30, 2024

Today, the rice market in the Mekong Delta has low supply, with limited quantities of high-quality rice, slow purchasing by warehouses, and a slight decrease in prices.

The price of IR 504 summer-autumn raw rice is currently 11,150 - 11,300 VND/kg, down 250 - 300 VND compared to yesterday. Finished IR 504 rice has decreased by 150 VND/kg, to 13,300 - 13,400 VND/kg.

At local markets, rice prices remain stable, unchanged from before. Nang Nhen rice is 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 are priced at 20,000 - 21,000 VND/kg, while jasmine rice and Taiwanese fragrant rice are both priced at 20,000 VND/kg. Common white rice costs 17,000 VND/kg, regular Soc rice at 18,500 VND/kg, Thai Soc rice at 20,000 VND/kg, and Japanese rice at 22,000 VND/kg.

Rice prices today, August 30, 2024

In the Mekong Delta region, the buying and selling of newly harvested rice is proceeding slowly, with farmers keeping prices stable at high levels.

According to information from the Department of Agriculture and Rural Development of An Giang province, rice prices today have seen a slight decrease compared to yesterday:

IR 50404 rice is priced from 7,900 to 8,000 VND/kg.

Dai Thom 8 rice price decreased by 200 VND, now at 8,400 - 8,600 VND/kg.

OM 5451 rice prices decreased by 100 dong, now at 8,100 - 8,300 dong/kg.

OM 18 rice prices decreased by 200 VND, now at 8,400 - 8,600 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 is sold at 20,000 VND/kg.

By-product prices today, August 30, 2024

The glutinous rice market remained unchanged compared to yesterday, with IR 4625 glutinous rice prices ranging from 7,400 to 7,600 VND/kg.

The price of An Giang sticky rice also remained unchanged, ranging from 7,000 to 7,200 VND/kg.

There was a slight adjustment in the price of by-products: the price of OM 5451 sheets decreased slightly to between 9,300 and 9,400 VND/kg, a decrease of 100 VND.

The price of dry rice bran remains stable, unchanged, at between 6,900 and 7,050 VND/kg.

Today's export rice prices (August 30, 2024)

Vietnam's export rice prices decreased slightly compared to yesterday. Specifically, 100% broken rice is priced at $440/ton, standard 5% broken rice decreased to $578/ton, and 25% broken rice decreased to $545/ton.

Earlier this year, Vietnamese businesses signed contracts to export rice to the Philippines at a price of $700 per ton. However, due to waiting for the new import tax rates, Filipino traders have temporarily suspended receiving the shipment.

When rice prices dropped to $600 per ton, Filipino traders requested renegotiation and proposed a price of $620-630 per ton. Vietnamese businesses agreed to this price.

Despite agreeing to the new price, Filipino traders continue to delay receiving shipments while awaiting the new import tariff. Currently, buying rice at $650 per ton is still resulting in losses for businesses.

According to the head of a rice business in Ho Chi Minh City, with current rice prices, exporting to the Philippines results in a loss of approximately $100 per ton for the company.

Philippine rice importers are concerned that their Vietnamese partners may cancel supply contracts as they are requesting renegotiations at higher prices following the Philippine government's significant tariff reductions.