AsemconnectVietnam - On Wednesday, rice prices rose by 100 VND compared to Yesterday in Vietnam's Mekong Delta region, according to Kinhtedothi.

According to an update from the Department of Agriculture and Rural Development of An Giang province, OM 5451 undried paddy increased by 100 VND to 7,200 - 7,400 VND/kg. Prices of other types of paddy are stable. Accordingly, IR 504 is priced at 7,100 - 7,300 VND/kg; Dai Thom 8 at 7,400 - 7,600 VND/kg; OM 18 at 7,400 - 7,600 VND/kg; Japanese paddy at 7,800 - 8,000 VND/kg.
Rice prices remained unchanged. Specifically, at market paddy warehouses in An Cu and Cai Be (Tien Giang), the price of OM 18 is priced at 12,300 - 12,400 VND/kg; Taiwan fragrant rice at 12,600 - 12,700 VND/kg; OM 5451 raw rice ranged from VND11,800 to VND11,900/kg; OM 380 from VND11,450 to VND11,550/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 Sa Dec (Dong Thap province), buying prices increased slightly. In Kien Giang, rice prices increased by 100 VND/kg compared to yesterday.
At retail markets, rice prices often fluctuate around 15,000 - 16,000 VND/kg; Nang Nhen rice 26,000 VND/kg; Jasmine rice 17,500 - 19,000 VND/kg; long-sliced pineapple 19,000 - 20,000 VND/kg; Huong jasmine rice 21,000 VND/kg; Taiwanese fragrant rice 20,000 VND/kg.
In the export market, Vietnam's export rice prices stagnated after a sharp decline. According to the Vietnam Food Association (VFA), the current price of 25% broken rice is traded at 584 USD/tonne; 5% broken rice at 609 USD/tonne; 100% broken rice at 508 USD/tonne.
The recent falls in rice prices are only short-term and the upward trend will continue in 2024 on limited supply, providing significant opportunities for Vietnam’s rice export, analysts have said.
According to data from the Vietnam Food Association (VFA), export rice prices of Vietnam are moving sideways after sharp decreases. The price of 25% broken rice dropped by 20 USD per tonne in the past week to 584 USD per tonne and 5% broken by 19 USD to 609 USD, slightly lower than Thailand’s. Meanwhile, 100% broken rice is at 508 USD per tonne, 25 USD per tonne higher than Thailand’s.
Rice prices are dropping on the psychology of waiting for clearer market trends from rice import plans of importing countries.
In addition, the main Winter-Spring crop, typically with good rice quality and output, is coming in two weeks, which will significantly impact the trend of rice prices, according to agriculture expert Hoang Trong Thuy.
Enterprises are waiting for the coming harvest season to prepare for their signed contracts and set price frames for their export contracts in the second half of the year.
Farmers also tend to wait for better points of time to sell their rice with expectation for higher prices, while the El Nino is increasing worries about global rice support.
Nguyen Nhu Cuong, Director of the Department of Crop Production under the Ministry of Agriculture and Rural Development, said Vietnam targeted to maintain 7.1 million ha of rice cultivation in 2024 with a total output of 43 million tonnes and export at least 8 million tonnes.
According to Seasia Stats, Vietnam is the third largest rice exporter in the world with an export volume of 7.6 million in 2023-2024, coming after India with an export of 16.5 million tonnes and Thailand with 8.2 million tonnes.
Latest updates of the General Department of Customs showed that Vietnam had exported 663,209 tonnes of rice as of February 15 to earn a total of 466.6 million USD.
The average rice export price was 703.50 USD per tonne, 33.65% higher than the same period last year.
T.Huong
Source: Vitic/kinhtedothi