Rice prices on June 2nd: Market stable, IR 50404 rice slightly increases to 5,600 VND.
The rice market in the Mekong Delta on June 2nd remained stable. While IR 50404 rice saw a slight increase, other varieties and export rice maintained their prices.
The domestic rice market on June 2nd remained stable in the Mekong Delta region. Amidst limited supply from the summer-autumn crop, trading activity was relatively quiet, with farmers adopting a cautious approach to maintaining prices.
Trends in the price of fresh rice at the field.
In key localities, the price of fresh paddy rice generally remained relatively stable. Notably, the IR 50404 variety recorded a slight increase of 100 VND/kg compared to the previous session. Conversely, fragrant and high-quality rice varieties maintained their previous price levels.
Specifically, the surveyed prices in the area are as follows:
- OM 18 and Dai Thom 8 rice varieties:6,400 - 6,500 VND/kg
- OM 5451 rice:5,700 - 5,800 VND/kg
- IR 50404 rice:5,500 - 5,600 VND/kg
- OM 34 rice:5,100 - 5,200 VND/kg
- IR 4625 glutinous rice (fresh):7,300 - 7,500 VND/kg
In Tay Ninh, harvest yields are still scattered. In Dong Thap, traders tend to buy cautiously while people still expect higher prices. Supply in An Giang, Can Tho, Ca Mau, and Vinh Long has started to increase but has not yet created significant downward pressure on prices.
Raw and finished rice market
Prices of raw and finished rice remained stable on June 2nd, with no adjustments compared to previous days. Below is a summary table of rice prices in the domestic market:
| Type of item | Price (VND/kg) |
|---|---|
| OM 5451 raw rice | 9,500 - 9,600 |
| Dai Thom 8 raw rice | 9,200 - 9,400 |
| CL 555 raw rice | 9,100 - 9,200 |
| OM 18 raw rice | 8,700 - 8,850 |
| IR 504 raw rice | 8,600 - 8,700 |
| Finished IR 504 rice | 10,750 - 10,900 |
In the retail market, the prices of common rice varieties remained stable at 12,000 - 16,000 VND/kg. Premium rice varieties such as Nang Nhen maintained a price of 28,000 VND/kg; Huong Lai, Japanese rice, and Nang Hoa rice fluctuated between 21,000 - 22,000 VND/kg.
Analysis of the rice export market
On the world market, Vietnam's export rice prices remain competitive in the fragrant rice segment. Vietnamese Jasmine rice is currently offered at around 528-532 USD/ton, while fragrant rice with 5% broken grains ranges from 505-520 USD/ton.
Compared to regional competitors, Vietnamese rice prices are showing a clear differentiation:
- Thailand:5% broken rice is priced at $440-$444 per ton; 100% broken rice is priced at $410-$415 per ton.
- Pakistan:100% broken rice ranges from 347 to 351 USD/ton.
- India:5% broken rice is priced at $342-$346 per ton; 100% broken rice is priced at $280-$284 per ton.
Overall, the domestic rice market is expected to remain stable in the short term. Price trends may change as the summer-autumn crop enters its peak harvesting period in southern provinces and cities in the coming time.
