Rice prices today, October 21, 2024: Remaining stable.
Rice prices today, October 21, 2024: Remain stable in the Mekong Delta provinces. Rice exports remain stable.
Rice prices today, October 21, 2024
In the rice market, rice prices have increased slightly. Raw IR 504 rice is priced at 10,400 - 10,600 VND/kg, while finished IR 504 rice ranges from 12,550 - 12,700 VND/kg.
Retail rice prices at markets also remained stable, with Jasmine rice priced at 18,000 - 20,000 VND/kg, regular white rice at 15,000 - 16,000 VND/kg, and Japanese rice at 22,000 VND/kg.
Rice prices today, October 21, 2024
According to the Department of Agriculture and Rural Development of An Giang province, rice prices today remain unchanged compared to yesterday. IR 50404 rice is priced at 6,900 - 7,000 VND/kg, Dai Thom 8 rice at 7,800 - 8,000 VND/kg, and OM 5451 rice at 7,200 - 7,400 VND/kg. Dried Nhat rice and Nang Nhen rice maintain prices of 7,800 - 8,000 VND/kg and 20,000 VND/kg respectively.
By-product prices today, October 21, 2024
The price of by-products ranges from 5,900 to 9,600 VND/kg, with OM 5451 broken rice at 9,500 - 9,600 VND/kg and dry rice bran at 5,900 - 6,000 VND/kg. The price of Long An glutinous rice also remains unchanged, ranging from 9,600 to 10,000 VND/kg.
Today's export rice prices
On the export market, Vietnamese rice prices remained unchanged, with 100% broken rice at $439/ton, 5% broken rice at $534/ton, and 25% broken rice at $506/ton.
Last week's USDA report indicated that global rice exports are projected to reach 56.3 million tons, up 2.3 million tons from previous forecasts. This is due to increased rice supply and lower prices, following India's lifting of its ban on non-basmati white rice exports, the removal of minimum export prices for basmati rice, and a reduction in export duties.
The USDA forecasts global rice trade will increase in 2025 as India boosts exports and rice prices fall. The Philippines could import 4.7 million tons of rice this year and nearly 5 million tons in 2025 due to declining domestic production.
The Philippines will continue to be the world's largest rice importer, followed by Vietnam and the EU with imports of 2.9 million tons and 2.2 million tons respectively.
According to a USDA report, global rice production in 2024-2025 will reach an all-time high of 530.4 million tons.
This growth was supported by increased production in India, the United States, Japan, Egypt, Guyana, Nicaragua, and Venezuela.
Total rice supply, including both existing stocks and new production, is expected to reach a record high of 710.3 million tons, 5.6 million tons higher than previous forecasts.
India's rice exports are projected to increase by 20%, reaching 21 million tons. Conversely, rice exports from Brazil, Pakistan, Thailand, and Vietnam are expected to decline this crop year.