AsemconnectVietnam - On Wednesday, paddy prices remained unchanged but rice prices dropped sharply by 100 - 200 VND/kg compared to Yesterday in Vietnam's Mekong Delta region, according to Kinhtedothi.

Accordingly, in An Giang, updated by the Department of Agriculture and Rural Development of An Giang province, the price of fresh paddy of all kinds purchased by traders at the field is stable.
Specifically, IR 504 paddy is at 8,800 - 9,000 VND/kg; Dai Thom 8 paddy is at 9,300 - 9,500 VND/kg; OM 18 paddy is at 9,200 - 9,400 VND/kg; OM 5451 paddy is at 9,200 - 9,400 VND/kg; Nang Hoa 9 remains stable at 9,400 - 9,600 VND/kg; OM 380 rice fluctuated around 8,600 - 8,800 VND/kg.
In Kien Giang, many localities such as An Bien are currently harvesting Winter-Spring Crops. Farmers mainly grow Dai Thom paddy, with selling prices ranging from 8,800 - 9,000 VND/kg.
Recorded in the Mekong Delta provinces, new rice trading was slow at the beginning of the week. Rice prices dropped sharply so traders and businesses stopped buying and observed the market.
In the rice market, today the price of all types of rice continues to decrease by 100 - 200 VND/kg compared to yesterday. In An Giang, Kien Giang, and Dong Thap, a lot of rice arrived, but warehouses only bought it in moderation, transactions were slow, and prices dropped.
Specifically, at market rice warehouses in An Cu and Cai Be (Tien Giang), the price of raw rice OM 18 and Dai Thom 8 is at 12,900 – 13,000 VND/kg, down 100 VND/kg; OM 5451 raw rice fluctuates around 12,000 - 12,300 VND/kg, down 200 VND/kg.
In Sa Dec (Dong Thap), fragrant rice is at 12,200 - 12,300 VND/kg, down 200 VND/kg; beautiful fragrance 12,600 - 12,700 VND/kg, down 200 VND/kg; OM 5451 rice 12,000 - 12,100 VND/kg, down 100 VND/kg, IR 504 at 12,200 - 12,300 VND/kg, down 200 VND/kg.
On the export market, Vietnam's export rice prices stagnated and moved sideways after an upward adjustment session. According to the Vietnam Food Association (VFA), the current price of 25% broken rice is at 612 USD/tonne; 5% broken rice at 638 USD/tonne; 100% broken rice at 533 USD/tonne.
Vietnamese rice has recently secured a firm foothold within the European market by boosting its own brand, thereby creating fresh momentum for new breakthroughs to occur this year.
In fact, the rice industry raked in a record high of US$4.8 billion from exporting up to eight million tonnes of rice in 2023 partly thanks to improved product quality.
When Vietnamese ST 25 rice won the world's best rice award in 2019, a Vietnamese businessperson and his colleagues put forward an idea of rice under the Vietnamese brand.
According to the executive, the Thai rice first made inroads into Europe 30 years ago, with its rice quality becoming the common standard for fragrant rice from Asia.
“Difficulties are not the price but how to convince European consumers to try Vietnamese rice to win their trust, so that our rice will gradually secure a firm foothold in the demanding market,” he says.
Vietnam is a leading rice exporter in the world and it should have a proper rice brand in this lucrative market. But in fact, Vietnamese rice is often sold in the market under the brands of other countries.
Entering into 2024, more one-kilo rice bags can be found on the shelves of supermarkets in Europe at a price of between EUR1.8 and EUR3 per kilo each. There is not much room for a price increase when Vietnamese rice prices are higher than those of Thai and Cambodian rice. Expanding its market share requires Vietnam to create price stability and quality differences.
At present, 130 Vietnamese rice agents have been set up across 12 major European markets. Statistics show between 60% and 70% of Asians have used Vietnamese ST rice, providing the basis for making Vietnamese rice even better known among European consumers.
T.Huong
Source: Vitic/Kinhtedothi