AsemconnectVietnam - According to Kinhtedothi, domestic rice prices remained unchanged on August 25 due to quiet trading.

 In the Mekong Delta, rice prices were unchanged. According to the Department of Agriculture and Environment of An Giang province, both fresh paddy and milled rice showed no significant movements. For paddy, some fragrant varieties showed a downward trend. Trading of new Autumn-Winter paddy was slow, with most traders still buying up Summer-Autumn late-harvest paddy. Fresh paddy prices were generally stable. For milled rice, prices were also steady. According to An Giang authorities, export-grade rice prices were as follows: OM 380 at VND8,300 – 8,400/kg; 5451 at VND9,500 – 9,650/kg; IR 504 at VND8,450 – 8,550/kg; CL 555 at VND8,650 – 8,750/kg; OM 18 at VND9,600 – 9,700/kg. Finished rice: OM 380 at VND8,800 – 9,000/kg; IR 504 at VND9,500 – 9,700/kg. By-products ranged between VND7,500 – 9,000/kg. OM 504 broken fragrant rice was VND7,500 – 7,700/kg; bran was VND8,000 – 9,000/kg, stable compared to the weekend.
In local markets, IR50404 and OM380 supplies were limited, trading was quiet, and prices stayed steady. Retail prices also remained unchanged compared to the weekend. Currently, Nàng Nhen rice is listed at the highest price of VND28,000/kg; Hương Lài at VND22,000/kg; regular rice at VND13,000 – 14,000/kg; long-grain Thai fragrant rice at VND20,000 – 22,000/kg; Nàng Hoa at VND21,000/kg; Taiwanese fragrant rice at VND20,000/kg; Jasmine fragrant rice at VND16,000 – 18,000/kg; common white rice at VND16,000/kg; regular Sóc rice at VND16,000 – 17,000/kg; Thai Sóc rice at VND20,000/kg; Japanese rice at VND22,000/kg.
Export market: Vietnam’s export rice prices held steady compared to the weekend. According to the Vietnam Food Association (VFA), 5% broken rice remained at USD399/tonne; 25% broken rice at USD368/tonne; and 100% broken rice at USD335/tonne.
In the first seven months of the year, Vietnam sold 5.5 million tonnes of the cereal abroad for 2.81 billion USD, with the Philippines continuing to serve as its biggest buyer. However, revenue experienced a year-on-year fall of 13.5%. Exporters admitted that while shipments to the country have slowed, they have signed new contracts at significantly improved prices and expanded their customer base across ASEAN and South African markets.
Earlier this month, the Philippine government announced a two-month suspension of rice imports from September 1 amidst falling domestic rice prices. However, market analysts predict that overall exports will remain robust thanks to growing demand in other regions.
The United States Department of Agriculture (USDA) forecast Vietnam’s full-year rice exports at 8.2 million tonnes, up 300,000 tonnes as compared to the previous prediction. Shipments will increase in the end of the year, driven by high demands from Africa and China. Meanwhile, the Philippines’ rice import suspension is projected to trim the country’s purchases by 500,000 tonnes. Even so, the Philippines’ total imports in the year could remain at 4.9 million tonnes, the highest in the world.
T.Huong
Source: Vitic