AsemconnectVietnam - On Friday, paddy rice prices dropped sharply by 200 - 400 VND/kg compared to Yesterday in Vietnam's Mekong Delta region as stocks built up, according to Kinhtedothi.

Accordingly, in An Giang, updated by the Department of Agriculture and Rural Development of An Giang province, the average price of undried paddy purchased by traders at the field fluctuates around 7,800 - 8,700 VND/kg.
Specifically, the price of IR 504 paddy was traded at 8,200 - 8,400 VND/kg, down 200 VND/kg; Dai Thom 8 rice at 8,400 - 8,600 VND/kg, down 200 - 400 VND/kg; OM 18 rice at 8,400 - 8,600 VND/kg, down 400 VND/kg; OM 5451 rice at 8,300 - 8,500 VND/kg, down 300 VND/kg; Nang Hoa 9 at 8,600 - 8,700 VND/kg, down 300 VND/kg. As for Japanese rice, the price remains unchanged at 7,800-8,000 VND/kg.
Recorded in the Mekong Delta provinces, new rice transactions are slow. Prices of all types of rice continued to decline, causing traders to abandon their deposits, while farmers actively offered to sell a lot of rice, especially newly harvested rice or ripe yellow rice that had no buyers. Some traders offered to buy paddy at low prices to deliver signed contracts, but for paddy that had previously been paid at a high price, they removed the deposit. Paddy trading stagnated.
For rice products, today rice prices leveled off after many sessions of sharp decline. Specifically, at market rice warehouses in An Cu and Cai Be (Tien Giang), the price of raw rice OM 18 is traded at 12,300 - 12,400 VND/kg; Taiwan fragrant rice 8 at 12,600 - 12,700 VND/kg; OM 5451 raw rice around 11,800 - 11,900 VND/kg; OM 380 at 11,450 – 11,550 VND/kg; Japanese raw rice at 12,600 - 12,700 VND/kg; ST 21 raw rice at 13,900 - 14,000 VND/kg; ST 24 raw rice at 14,400 - 14,600 VND/kg.
In the rice market, the supply of raw rice is low, customers stop grinding and selling a lot due to losses. At market rice warehouses, purchasing transactions are sparse. In Dong Thap, warehouses had to raise the price of rice by 100 VND/kg to be able to buy it.
In the export market, Vietnam's 5% broken rice were offered at $625-$630 per metric ton, down from $637-$640 a week ago.
"Supplies are building up amid the harvest of the winter-spring crop, the largest harvest of the year," a trader based in Ho Chi Minh City said.
Some traders said that they are slowing down their purchases of paddy rice from farmers in anticipation of further decline in domestic prices.
T.Huong
Source: Vitic/kinhtedothi