Rice prices today, October 29, 2024: Remaining stable.
Rice prices today, October 29, 2024: Domestic prices remain stable. Trading is sluggish, with low purchasing activity. Export rice prices remain high.
Rice prices today, October 29, 2024
On the rice market, today's rice prices remain unchanged compared to yesterday. Specifically, the price of IR 504 summer-autumn raw rice is at 10,500 - 10,600 VND/kg, while finished IR 504 rice is priced at 12,600 - 12,700 VND/kg.
At retail markets, rice prices remain unchanged. Nang Nhen rice currently has the highest price at 28,000 VND/kg. Prices for other types of rice range from 15,000 - 16,000 VND/kg, while fragrant rice costs from 17,000 - 23,000 VND/kg. Specifically, Jasmine rice is 17,000 - 18,000 VND/kg; Nang Hoa rice is 21,500 VND/kg; regular white rice is around 15,000 - 16,000 VND/kg; Thai long-grain fragrant rice is 20,000 - 22,000 VND/kg; Huong Lai rice is 23,000 VND/kg; Taiwanese fragrant rice is 21,000 VND/kg; regular Soc rice is 18,500 VND/kg; and Thai Soc rice is 21,000 VND/kg. and Japanese rice costs 22,000 VND/kg.
Rice prices today, October 29, 2024
In localities such as Soc Trang and Dong Thap, transactions are currently slow, and purchasing inventories are low, but prices remain stable.
According to information from the Department of Agriculture and Rural Development of An Giang province, rice prices today remain unchanged compared to yesterday. Specifically, the price of IR 50404 rice ranges from 6,700 to 7,000 VND/kg; Dai Thom 8 rice from 7,800 to 8,000 VND/kg; OM 5451 rice from 7,200 to 7,500 VND/kg; OM 18 rice from 7,200 to 7,300 VND/kg; OM 380 rice from 7,000 to 7,200 VND/kg; Nhat rice from 7,800 to 8,000 VND/kg; and Nang Nhen (dried) rice is priced at 20,000 VND/kg.
By-product prices today, October 29, 2024
Regarding by-products, prices currently range from 6,100 to 9,600 VND/kg. Specifically, the price of OM 5451 broken rice remains at 9,500 - 9,600 VND/kg, unchanged from yesterday, and the price of dry rice bran is also stable at 6,100 - 6,200 VND/kg.
For the glutinous rice market, prices remain unchanged. Long An IR 4625 glutinous rice (dry) is priced at 9,600 - 9,800 VND/kg, while Long An 3-month glutinous rice (dry) is priced at 9,800 - 10,000 VND/kg, both remaining the same as yesterday.
Today's export rice prices
Vietnam's export rice prices also remained unchanged. According to the Vietnam Food Association, the price of 100% broken rice was $432/ton, standard 5% broken rice was $531/ton, and 25% broken rice was $503/ton.
KD Trading, owned by a Vietnamese expatriate, has successfully introduced Vietnam's ST25 rice to the Canadian market – a country with high quality standards. ST25 rice, which has twice won the award for best rice in the world in 2019 and 2023, has given the company confidence in entering this market.
Although Canada is not yet a major market for Vietnamese rice, successfully entering this demanding market will open up opportunities for Vietnamese rice to access other markets around the world. Currently, premium and fragrant rice account for about 50% of exports, aligning with the goal of improving quality rather than focusing solely on quantity.
Mr. Hoang Trong Thuy, an agricultural expert, believes that rice exports remain a bright spot for the economy. He recommends that businesses closely monitor market trends and consumer demand to seize opportunities in niche markets.