Rice price today November 7, 2024: Rice price decreased by 50 VND/kg

Domestic rice price

Today's rice prices in the Mekong Delta tend to decrease slightly, especially for rice. In the rice market, in localities such as Soc Trang and Dong Thap, transaction prices are stable. However, slow rice purchasing and low quality rice stocks keep prices from changing much.

Specifically, the price of raw IR 504 Summer-Autumn rice is currently fluctuating from 10,450 - 10,550 VND/kg, down 50 VND/kg compared to yesterday. Finished IR 504 rice also decreased 50 VND/kg, currently at 12,450 - 12,550 VND/kg.

At retail markets, rice prices have been adjusted for some types of rice. Nang Nhen rice has the highest price, reaching 28,000 VND/kg. Other types of rice have prices fluctuating as follows: regular rice from 15,000 - 16,000 VND/kg, fragrant rice from 17,000 - 23,000 VND/kg, Jasmine rice from 17,000 - 18,000 VND/kg, and long-grain Thai fragrant rice from 20,000 - 22,000 VND/kg. Japanese rice is currently priced at 22,500 VND/kg, an increase of 50 VND/kg compared to yesterday.

In the rice market, in Hau Giang and Kien Giang, dry rice transactions are slow, with low transaction volume. In An Giang, Autumn-Winter rice is offered for sale in large quantities, but demand for purchase is slow, and the amount of rice imported is also not much.

According to the update from the Department of Agriculture and Rural Development of An Giang province, today's rice prices have been adjusted compared to yesterday. Specifically, the price of IR 50404 rice ranges from 6,700 - 7,300 VND/kg; Dai Thom 8 rice is priced at 8,300 VND/kg; OM 5451 rice is priced at 7,400 - 7,600 VND/kg; OM 18 rice is priced at 8,100 VND/kg; OM 380 rice ranges from 7,000 - 7,200 VND/kg; Nhat rice is priced at 7,800 - 8,000 VND/kg and Nang Nhen rice (dry) is priced at 20,000 VND/kg.

For by-products, the prices of by-products currently range from 6,800 - 9,500 VND/kg. Specifically, the price of OM 5451 broken rice is at 9,300 - 9,500 VND/kg, while the price of dry bran ranges from 6,800 - 6,900 VND/kg.

The glutinous rice market has not changed compared to yesterday. Long An IR 4625 glutinous rice (fresh) remains stable at 7,800 - 7,900 VND/kg, while Long An IR 4625 glutinous rice (dried) remains at 9,600 - 9,800 VND/kg.

Export rice price

In the export market, Vietnamese rice prices remained stable compared to yesterday. Specifically, 100% broken rice was priced at 427 USD/ton, 5% standard rice was 524 USD/ton and 25% broken rice was traded at 495 USD/ton.

According to a VNA reporter in Bangkok, Chairman of the Thai Rice Exporters Association, Mr. Charoen Laothammatas, commented that Thailand's rice exports will face fiercer competition in the coming time, when India removes export restrictions and taxes, allowing unlimited rice exports.

Despite the restrictions, India remained the world's largest rice exporter in the first nine months of this year, exporting 12.20 million tonnes, down 19.6% from the same period last year, Charoen said.

Meanwhile, Thailand remained in second place with 7.45 million tons, up 22% from last year. Vietnam ranked third with 6.96 million tons, up 8.4%. The next largest rice exporting countries were Pakistan with 4.45 million tons (up 74.4%) and the US with 2.5 million tons (up 56.3%).

Thailand's largest rice import markets this year were Indonesia (1 million tonnes), Iraq (907,715 tonnes), the US (609,430 tonnes), South Africa (580,288 tonnes) and the Philippines (399,493 tonnes).

Thailand's rice export turnover in the first nine months of this year is estimated at 172 billion baht (5.03 billion USD), up 45.8% compared to 117.9 billion baht (3.45 billion USD) last year.

Hom Mali white and fragrant rice exports remained strong, with 507,795 tonnes shipped in September, mainly to Iraq, the Philippines, Togo, Cameroon, Kenya, Mozambique, Benin and Japan. However, parboiled rice exports fell 30% year-on-year.