Rice price today 11/4/2024: Stable market

Domestic rice price

In localities such as An Giang, Soc Trang and Dong Thap, the rice market is quiet. Trading is slow, there is little good quality rice, and prices of all types of rice are stable.

Rice prices are currently unchanged from yesterday. Specifically, the price of raw IR 504 Summer-Autumn rice ranges from 10,600 to 10,700 VND/kg, while the price of finished IR 504 rice is 12,550 to 12,650 VND/kg.

At retail markets, rice prices remain unchanged. Nang Nhen rice has the highest price of VND28,000/kg. Regular rice costs from VND15,000 to VND16,000/kg; fragrant rice from VND17,000 to VND23,000/kg; Jasmine rice from VND17,000 to VND18,000/kg; Nang Hoa rice is VND21,500/kg; regular rice ranges from VND15,000 to VND16,000/kg; long-grain Thai fragrant rice from VND20,000 to VND22,000/kg; Huong Lai rice is VND23,000/kg; Taiwanese fragrant rice is VND21,000/kg; regular Soc rice is VND18,500/kg; Thai Soc rice is VND21,000/kg; and Japanese rice is VND22,000/kg.

In the rice market, in Dong Thap and An Giang, rice prices are currently stable, but purchasing power is not high.

According to the update from the Department of Agriculture and Rural Development of An Giang province, today's rice prices have slightly adjusted compared to yesterday. Specifically, the price of IR 50404 rice ranges from 6,800 to 7,100 VND/kg; Dai Thom 8 rice is at 7,800 to 8,000 VND/kg; OM 5451 rice is from 7,300 to 7,600 VND/kg; OM 18 rice is from 8,400 to 8,500 VND/kg; OM 380 rice is from 7,000 to 7,200 VND/kg; Nhat rice is at 7,800 to 8,000 VND/kg; and Nang Nhen rice (dry) is at 20,000 VND/kg.

Regarding by-products, the prices of various by-products are currently fluctuating from 6,700 to 9,600 VND/kg. Specifically, the price of OM 5451 broken rice is from 9,300 to 9,600 VND/kg, while the price of dry bran remains at 6,700 to 6,800 VND/kg, unchanged from yesterday.

The glutinous rice market also had no adjustments compared to yesterday. The price of Long An IR 4625 glutinous rice (fresh) was from 7,800 to 7,900 VND/kg, while Long An IR 4625 glutinous rice (dried) fluctuated from 9,600 to 9,800 VND/kg, also stable compared to yesterday.

Export rice price

In the export market, Vietnamese rice prices also remained unchanged. According to the Vietnam Food Association (VFA), the price of 100% broken rice was $427 per ton, 5% standard rice was $524 per ton, and 25% broken rice was $495 per ton.

Rice prices are currently fluctuating, but this does not affect Vietnam's rice export target in 2024. It is forecasted that from now until the end of the year, Vietnam's rice exports will stabilize, with the annual turnover possibly exceeding 5 billion USD.

According to information from the Ministry of Agriculture and Rural Development, in October 2024, rice export volume is estimated to reach 800,000 tons, bringing in 505 million USD. The total volume and value of rice export in the first 10 months of the year reached nearly 7.8 million tons and 4.86 billion USD, up 10.2% in volume and 23.4% in value over the same period in 2023.

The average export price of rice in the first 10 months of 2024 is estimated at 626.2 USD/ton, up 12% over the previous year. Notably, according to the Vietnam Trade Office in the Philippines, Vietnamese rice continues to account for nearly 80% of the country's rice imports.

Experts say that although rice prices are favorable for businesses, to achieve the export target in 2024, businesses must maintain rice quality between shipments and ensure competitiveness. Unhealthy competition must be avoided, as this can cause damage to many exporting businesses.

Mr. Hoang Trong Thuy, an agricultural expert, commented that rice export will be a bright spot in the economy. Therefore, businesses need to closely monitor market developments and consumer demand to find niche markets.