Rice market update, May 14th: Fresh paddy prices rise slightly, export rice maintains strong position.
The price of fresh paddy rice in the Mekong Delta increased by 100 VND/kg on May 14th due to tight supply. On the international market, Vietnamese fragrant rice continues to maintain its superior export price.
The rice market in the Mekong Delta region on May 14th saw positive developments, with fresh paddy prices increasing slightly by about 100 VND/kg in many localities. This adjustment was mainly due to the dwindling supply of paddy from the Winter-Spring crop, while demand from purchasing units remained stable.
Details of domestic rice and paddy price fluctuations.
According to an update from the Department of Agriculture and Environment of An Giang province, the price of raw rice for export is currently stable and has not fluctuated significantly. Specifically, the following price ranges apply to different types of raw rice:
| type of rice | Price (VND/kg) |
|---|---|
| IR 504 rice | 8,400 - 8,550 |
| CL 555 rice | 9,000 - 9,100 |
| OM 18 rice | 8,700 - 8,850 |
| Dai Thom 8 Rice | 9,200 - 9,400 |
| OM 380 Rice & Soc Thom Rice | 7,500 - 7,600 |
| Finished IR 504 rice | 10,750 - 10,900 |
In the retail segment, rice prices remained relatively stable. Nang Nhen rice continued to be listed at the highest price of 28,000 VND/kg. Huong Lai rice fluctuated around 22,000 VND/kg, while Jasmine rice and common regular rice were priced between 13,000 and 14,000 VND/kg.
Fresh rice supply is tightening in provinces and cities.
Notably, the price of fresh paddy rice of varieties OM 18 and Dai Thom 8 both increased by 100 VND/kg, currently trading commonly at 6,200 - 6,300 VND/kg. Other varieties such as OM 5451 maintained at 5,600 - 5,700 VND/kg, and IR 50404 reached 5,400 - 5,500 VND/kg.
The main reason for the stable and slightly increasing rice prices is the limited amount of rice remaining in the fields after the main harvest. In Dong Thap province, the early summer-autumn rice yield was lower than the same period last year, keeping asking prices high. In provinces such as Ca Mau, Can Tho, An Giang, and Vinh Long, trading slowed down somewhat due to limited supply, with traders mainly focusing on purchasing areas that had been pre-ordered.
Vietnamese rice exports maintain a strong competitive advantage.
On the international market, Vietnamese rice continues to assert its position in the high-quality segment. According to data from the Vietnam Food Association, Vietnamese fragrant rice varieties are being offered at significantly higher prices than major competitors such as Thailand and India.
- Vietnamese rice:Jasmine rice is priced at $513-$517 per ton; fragrant rice with 5% broken grains ranges from $510-$520 per ton.
- Thai rice:Rice with 5% broken grains is currently priced at $396-$400 per ton.
- Indian rice:5% broken rice is being offered at prices ranging from $345 to $349 per ton.
Although the overall market hasn't seen significant fluctuations in trading volume, maintaining high prices demonstrates that the reputation and quality of Vietnamese rice continue to hold a strong advantage in the global food market.
