Rice price today November 6, 2024: Rice price slightly decreased, paddy price increased and decreased in opposite directions

Domestic rice prices

Rice prices in the Mekong Delta today have mixed changes. Rice prices tend to increase, while rice prices decrease slightly from 50 to 150 VND/kg.

In localities such as Soc Trang and Dong Thap, the rice market is quite quiet, transactions are slow, there are few purchasing warehouses, and there is not much good rice. However, the prices of all types of rice remain stable.

Specifically, the price of IR 504 Summer-Autumn raw rice is currently at 10,450 - 10,600 VND/kg, down 100 - 150 VND/kg compared to yesterday. The price of IR 504 finished rice has also decreased slightly, currently fluctuating between 12,500 - 12,600 VND/kg, down 50 - 100 VND/kg compared to the previous day.

At retail markets, rice prices have not changed. Nang Nhen rice is currently priced at VND28,000/kg. Other types of rice such as regular rice are priced from VND15,000 - 16,000/kg, fragrant rice from VND17,000 - 23,000/kg, Jasmine rice from VND17,000 - 18,000/kg, and Nang Hoa rice at VND21,500/kg. Other types of rice such as regular rice, long-grain fragrant rice, Huong Lai rice, Taiwanese fragrant rice, Soc rice, Thai Soc rice, and Japanese rice are priced from VND15,000 to VND22,000/kg, depending on the type.

In the rice market today, trading in some localities such as Dong Thap and Kien Giang is quite slow, with new rice and remaining rice not being traded much. In An Giang, rice trading activities are also slow, and rice prices do not fluctuate much.

According to information from the Department of Agriculture and Rural Development of An Giang province, today's rice price has been adjusted compared to yesterday. Specifically:

IR 50404 rice prices range from 6,700 - 7,300 VND/kg, an increase of 200 VND/kg.

Dai Thom 8 rice is priced at VND 8,300/kg, an increase of VND 300/kg.

OM 5451 rice was traded at 7,400 - 7,600 VND/kg, up 100 VND/kg.

OM 18 rice price decreased to 8,100 VND/kg, down 300 - 400 VND/kg.

OM 380 rice fluctuates at 7,000 - 7,200 VND/kg.

Japanese rice costs from 7,800 - 8,000 VND/kg.

Nang Nhen rice (dried) maintains a fairly high price of 20,000 VND/kg.

Regarding by-products, the prices of by-products are currently fluctuating from 6,800 - 9,500 VND/kg. Specifically, the price of OM 5451 broken rice decreased slightly to 9,300 - 9,500 VND/kg, down 100 VND/kg compared to yesterday. Meanwhile, the price of dry bran increased to 6,800 - 6,900 VND/kg, up 100 VND/kg compared to the previous day.

As for the sticky rice market, prices have not changed compared to yesterday. Long An IR 4625 sticky rice (fresh) remains stable at 7,800 - 7,900 VND/kg. Long An IR 4625 sticky rice (dried) also remains unchanged, still fluctuating between 9,600 - 9,800 VND/kg.

Export rice price

In the export market, Vietnam's rice export prices remained unchanged 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 priced at 495 USD/ton, according to information from the Vietnam Food Association (VFA).

By the end of October 2024, Vietnam's total rice import-export turnover had surpassed the 6 billion USD mark, reaching a new record. Of which, rice exports reached 4.86 billion USD and rice imports reached 1.2 billion USD.

Specifically, according to a report from the General Department of Customs, in the past 10 months, Vietnam exported nearly 7.8 million tons of rice, earning about 4.86 billion USD, up 10.2% in volume and 23.4% in value over the same period last year.

Regarding imports, the amount spent on rice imports also reached a record high, reaching nearly 1.2 billion USD, up 72.9% compared to the previous year. This is the highest import level ever, surpassing the 860 million USD figure of 2023.

Notably, in October 2024, the value of rice imports increased sharply to 148 million USD, an increase of 225% over the same period in October 2023.

Thus, in the past 10 months, Vietnam had a rice trade surplus of about 3.66 billion USD.

Explaining the increase in rice imports, experts said that this is not a new phenomenon but has been happening in recent years. Although Vietnam exports a lot of rice, most of it is fragrant rice and high-quality rice, while the area of ​​low-quality rice is decreasing. This is in line with the strategy of restructuring the rice industry, prioritizing the production of high-quality, specialty and high-yield rice to serve exports and compete better with other rice-producing countries.

Rice imported into Vietnam is mainly cheap broken rice, mainly from India, used in the production of cakes, vermicelli, processed foods, and animal feed. In addition, Vietnam also imports rice from Cambodia, Myanmar and Pakistan, because the price of rice from these countries is lower than domestic rice.

It is worth noting that the price of rice in the world market is currently falling sharply to the lowest level, which has encouraged Vietnamese enterprises to increase rice imports to serve food processing production. Therefore, the rice import turnover in October increased significantly.

Quoc Duong