Rice price today October 31, 2024: Mixed increase and decrease

Rice price today October 31, 2024

In the Mekong Delta, today's rice prices have some small changes compared to yesterday. Specifically, the price of IR 504 raw rice increased slightly by 50 to 100 VND/kg, currently at 10,550 - 10,700 VND/kg. In contrast, the price of IR 504 finished rice decreased by 50 VND/kg, currently at only 12,550 - 12,650 VND/kg.

At retail markets, rice prices have not changed significantly. Nang Nhen rice has the highest price, up to 28,000 VND/kg. Other types of rice continue to fluctuate in the range: regular rice from 15,000 - 16,000 VND/kg, fragrant rice 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 fragrant rice is 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 is 22,000 VND/kg.

Rice price today October 31, 2024

Update from the Department of Agriculture and Rural Development of An Giang province said that today's rice price recorded an adjustment compared to yesterday, IR 50404 price is at 6,800 - 7,000 VND/kg, an increase of 100 VND/kg; Dai Thom 8 rice is at 7,800 - 8,000 VND/kg, OM 5451 rice is at 7,200 - 7,500 VND/kg; OM 18 rice is at 7,200 - 7,500 VND/kg, OM 380 rice fluctuates at 7,000 - 7,200 VND/kg; Nhat rice is at 7,800 - 8,000 VND/kg and Nang Nhen rice (dry) is at 20,000 VND/kg.

By-product price today October 31, 2024

The price of by-products is currently fluctuating from 6,200 - 9,600 VND/kg. Specifically, the price of OM 5451 broken rice is 9,400 - 9,600 VND/kg, while the price of dry bran has increased slightly to 6,200 - 6,400 VND/kg (an increase of 100 - 150 VND/kg compared to yesterday).

Regarding sticky rice, prices have not changed. Long An IR 4625 sticky rice (dry) remains stable at 9,600 - 9,800 VND/kg, while Long An 3-month sticky rice (dry) is also stable at 9,800 - 10,000 VND/kg.

Rice export price today

In the export market, Vietnamese rice prices have been adjusted. According to the Vietnam Food Association, the price of 100% broken rice is currently $427 per ton, down $5; 5% standard rice is $524 per ton, down $7; and 25% broken rice is $497 per ton, down $6.

In the first 9 months of 2024, Vietnam earned nearly 2 billion USD from rice exports to the Philippines, accounting for 42.86% of the country's total rice export turnover.

According to the Vietnam Trade Office in the Philippines, the total two-way trade turnover between Vietnam and the Philippines during this period reached about 6.5 billion USD, an increase of more than 20% over the same period in 2023. Of which, Vietnam's exports to the Philippines reached over 4.6 billion USD, an increase of 20.7%, while imports reached nearly 1.9 billion USD, remaining at the same level as the previous year.

Rice is Vietnam's main export product to the Philippines, continuing to maintain strong growth. In the first 9 months, the value of rice exports reached 1.98 billion USD, exceeding 230 million USD compared to the whole year of 2023, and the Philippines remains Vietnam's largest rice import market.

The Philippines’ rice import demand is expected to continue to increase in the last three months of the year due to high consumption demand and crop damage caused by natural disasters. It is forecasted that the amount of rice imported from Vietnam in the fourth quarter could reach 500 million USD.

With the current growth momentum, bilateral trade turnover between Vietnam and the Philippines in 2024 is expected to exceed 8 billion USD for the first time, reaching an estimated 8.5 billion USD, and Vietnam could have a trade surplus of over 3 billion USD.