Rice prices today, December 17, 2024: Remaining stable.
Rice prices today, December 17, 2024: Domestic rice prices remain stable and export prices continue to be high, giving Vietnam a great opportunity to increase export turnover.
Domestic rice prices
According to information from the Department of Agriculture and Rural Development of An Giang province, the price of fragrant rice has slightly increased today, but trading activity at warehouses remains slow due to the slight decrease in rice prices over the past weekend. Specifically, the price of IR 504 raw rice decreased by about 100 VND, currently fluctuating between 9,700 - 9,800 VND/kg, while finished IR 504 rice is priced at 12,000 - 12,200 VND/kg.
In Sa Dec, Dong Thap province, the price of all types of raw rice increased slightly by 100 dong compared to yesterday. In Lap Vo, the supply of rice was low, and prices at warehouses remained stable, while fragrant rice and OM5451 saw a slight price increase.
At local markets, rice prices haven't changed much compared to the previous day. Regular rice typically ranges from 17,000 to 18,000 VND/kg. Nang Nhen rice is the most expensive at 28,000 VND/kg. Fragrant rice varieties like Jasmine, long-grain Thai fragrant rice, and Huong Lai rice range from 20,000 to 22,000 VND/kg. Nang Hoa rice is priced at 21,500 VND/kg, Taiwanese fragrant rice at 21,000 VND/kg, regular Soc rice at 18,500 VND/kg, and Japanese rice is the most expensive in the group at 22,500 VND/kg.
Regarding rice prices, according to the Department of Agriculture and Rural Development of An Giang province, the price of fresh rice remains stable at a high level. IR 50404 rice (fresh) is currently priced from 7,600 - 7,800 VND/kg; OM 5451 rice ranges from 8,600 - 8,800 VND/kg. Other rice varieties such as OM 380, OM 18, Dai Thom 8, and Nang Hoa 9 are priced from 7,200 to 9,400 VND/kg respectively.
Export rice prices
On the export market, Vietnamese rice prices saw a slight decrease last week, but remained largely unchanged compared to the previous day. According to the Vietnam Food Association, the price of standard 5% broken rice is currently at US$509/ton, while 25% broken rice and 100% broken rice are priced at US$477/ton and US$405/ton respectively. Compared to other countries in the region, the price of Vietnamese 5% broken white rice is still higher than Thailand (US$505/ton), Pakistan (US$454/ton), and India (US$449/ton).
The Philippines continues to be a major import market for Vietnam. According to the Philippine Bureau of Plant Industry (BPI), Vietnam accounted for 76.8% of the Philippines' total rice imports in 2024, equivalent to 3.34 million tons. The total rice imports of the Philippines as of early December had reached 4.35 million tons, far exceeding the 3.61 million tons imported in 2023.
Thanks to stable domestic rice prices and consistently high export prices, Vietnam has the opportunity for strong growth in export turnover. However, controlling product quality remains a key factor in maintaining competitiveness in the international market.