AsemconnectVietnam - According to Kinhtedothi, rice prices in the domestic market today, March 11, saw a slight increase of 100 VND/kg for some types of paddy. The market remained active with stable transactions and a good supply of paddy.

Domestic Paddy Prices
According to the Department of Agriculture and Environment of An Giang Province:
• Fresh Đài Thơm 8: Increased by 100 VND/kg, ranging from 6,500 - 6,600 VND/kg.
• OM 18 (Fresh): 6,400 - 6,500 VND/kg.
• OM 5451 (Fresh): 5,700 - 5,900 VND/kg.
• IR 50404 (Fresh): 5,500 - 5,600 VND/kg.
• OM 380 (Fresh): 5,000 - 5,200 VND/kg.
• Japanese Paddy: 7,800 - 8,000 VND/kg.
• Nàng Hoa 9 Paddy: 9,200 VND/kg.
Market Activity by Province
• Đồng Tháp: Farmers slightly increased asking prices, transactions were stable, traders purchased at firm prices.
• Sóc Trăng: Slight increase in asking prices, but transactions were slow.
• Hậu Giang: Farmers actively selling at higher prices, but demand remained weak.
• An Giang: Prices edged up slightly, but remained stable compared to the weekend.
• Kiên Giang: Harvest season peaked in Tân Hiệp, Giồng Riềng, with improved trading activity.
Domestic Rice Prices
As per An Giang’s Department of Agriculture and Environment:
• Raw Rice:
o OM 380: 7,850 - 8,000 VND/kg.
o IR 504: 8,150 - 8,200 VND/kg.
o OM 18: 9,300 - 9,500 VND/kg.
o OM 5451: 8,500 - 8,600 VND/kg.
• Finished Rice:
o OM 380: 8,800 - 9,000 VND/kg.
o IR 504: 9,500 - 9,700 VND/kg.
By-products Prices
• Aromatic Broken Rice: 7,100 - 7,300 VND/kg.
• 3-4 Broken Rice: 6,600 - 6,700 VND/kg (+200 VND/kg).
• Dried Rice Bran: 5,550 - 5,700 VND/kg.
Local Market Situation
• Lấp Vò (Đồng Tháp): Steady rice inflow, strong purchasing demand, attractive rice quality.
• Sa Đéc Market (Đồng Tháp): Good purchasing volume, stable IR 50404 prices.
• An Cư (Cái Bè, Tiền Giang): Moderate transactions, slightly increased fragrant rice prices.
• Retail Markets: Prices remained stable compared to the weekend.
Retail Rice Prices
• Nàng Nhen Rice: 28,000 VND/kg (highest price).
• Common Rice: 15,000 - 16,000 VND/kg.
• Thai Fragrant Long Grain Rice: 20,000 - 22,000 VND/kg.
• Hương Lài Rice: 22,000 VND/kg.
• Jasmine Rice: 18,000 - 20,000 VND/kg.
• Nàng Hoa Rice: 22,000 VND/kg.
• Taiwan Fragrant Rice: 21,000 VND/kg.
• Common White Rice: 17,000 VND/kg.
• Regular Sóc Rice: 18,000 VND/kg.
• Sóc Thái Rice: 21,000 VND/kg.
• Japanese Rice: 22,000 VND/kg.
Export Market
Vietnam’s export rice prices remained stable compared to the weekend, according to the Vietnam Food Association (VFA):
• 5% Broken Rice: 389 USD/ton.
• 25% Broken Rice: 364 USD/ton.
• 100% Broken Rice: 307 USD/ton.
Vietnamese Trade Counselor in India Bui Trung Thuong has urged Vietnamese rice exporters to strengthen their global competitiveness and diversify markets and sales channels following New Delhi’s recent decision to lift its ban on 100% broken rice export.
The Indian government on March 7 removed the ban, creating challenges for global rice-exporting nations amid falling prices, Thuong said in an interview with Vietnam News Agency (VNA) correspondent in New Delhi on the potential impact on Vietnam’s rice market.
According to him, there are two reasons for India’s Ministry of Commerce to lift the ban, namely rising rice cultivation and production forecast to surpass last year’s levels, along with the need to clear the country's high rice reserves ahead of the new harvest, and India's earlier concerns over food security eased.
India had imposed the ban on 100% broken rice export in September 2022 and extended it to regular white rice in 2023, pushing global rice prices from around 450 USD per tonne to a peak of 700 USD per tonne.
Recently, prices have dropped sharply. Vietnamese and Thai 5% broken rice have seen declines of 38-45%, with Vietnam’s prices falling from 680-700 USD per tonne to 390-400 USD per tonne, an unprecedented decrease.
Thuong noted that while the current price drop from the 700 USD-per-tonne peak was anticipated, the present rate of 390-420 USD per tonne is reasonable and beneficial for both exporters and importers.
Global rice prices are expected to stabilise due to several factors, such as projected global production increases of up to 10 million tonnes this year, expanded use of rice in ethanol production and industrial applications, and stable demand, with around 50% of the world’s population relying on rice as a staple.
Given the context, Thuong advised Vietnamese rice exporters to focus on developing high-quality rice varieties and building geographical indication-based branding to enhance their global reputation. Besides, they should diversify markets and sales channels, reducing reliance on government-to-government deals, and expanding into the private sector, and strive to maintain their market share, even in regions with lower export volumes or turnover.
T.Huong
Source: Vitic