Rice prices on May 6th: Fresh paddy increased by 200 VND/kg, supply in provinces is limited.
On May 6th, the rice market saw a slight increase in the prices of fresh OM 18 and Dai Thom 8 rice. However, overall trading remained sluggish due to scarce supply in the Mekong Delta region.
The rice market in the Mekong Delta region saw mixed developments on May 6th. While the prices of some fresh paddy rice varieties edged up slightly due to limited end-of-season supply, the prices of raw and finished rice remained stable.
Fresh rice prices have been adjusted upwards in some localities.
According to updated data from the Department of Agriculture and Environment of An Giang province, the price of fresh rice varieties OM 18 and Dai Thom 8 has increased by 200 VND/kg compared to the previous session. The scarcity of early summer-autumn rice supply is the main reason for the high purchase price at the fields.
| Fresh rice | Price (VND/kg) | Fluctuations |
|---|---|---|
| Fragrance Channel 8 | 6,100 – 6,300 | +200 |
| OM 18 | 6,100 – 6,300 | +200 |
| OM 5451 | 5,600 – 5,700 | Passing by |
| IR 50404 | 5,400 – 5,500 | Passing by |
| OM 34 | 5,100 – 5,200 | Passing by |
In An Giang province, buying and selling activity shows signs of improvement but is not yet truly vibrant. Meanwhile, in Can Tho, the scarcity of fresh paddy has forced many businesses to shift to purchasing dried paddy such as Dai Thom 8 and Japonica to fulfill signed orders.
Raw rice prices remain stable.
In contrast to the upward trend in fresh paddy prices, the price of raw rice for export remained relatively stable today. Export businesses maintained stable purchase prices for their main rice varieties.
- IR 504 rice:Prices range from 8,600 to 8,700 VND/kg.
- Dai Thom 8 Rice:Prices reached a peak of 9,200 – 9,400 VND/kg.
- CL 555 Rice:Keep the price at 9,000 – 9,200 VND/kg.
- OM 380 Rice:Prices remained stable around 7,500 – 7,600 VND/kg.
In the retail market, the prices of domestic consumer rice varieties remain stable. Nang Nhen rice continues to lead in price at 28,000 VND/kg. Popular fragrant rice varieties such as Huong Lai and Nang Hoa fluctuate between 21,000 and 22,000 VND/kg, suitable for the needs of consumers.
Competitive pressure in the export rice market.
Despite stable domestic prices, Vietnamese rice exports are facing significant price competition from other supplying countries. Currently, Vietnamese 5% broken rice is being offered at $490-$500 per ton, considerably higher than its regional competitors.
| Nation | 5% broken rice (USD/ton) | 100% Broken Rice (USD/ton) |
|---|---|---|
| Vietnam | 490 – 500 | 335 – 339 |
| Thailand | 390 – 394 | 369 – 373 |
| India | 349 – 353 | 282 – 286 |
The price difference between Vietnam and countries like Thailand or India is over $100/ton for 5% broken rice. This reflects the high quality of Vietnamese rice, but also raises the question of competitiveness in a volatile global market.
