Rice price today December 28: Rice price remains stable

Today, December 28, domestic rice is scarce, causing gloomy transactions. Meanwhile, Thai rice exports increased beyond Vietnam, and Indian rice prices also increased.

The domestic price of IR 504 panels is still 10,000 VND/kg, the price of gold bran is 6,800 VND/kg. Rice NL IR 504 is 9,700 VND/kg. TP IR 504 rice (5% broken) costs 11,100 VND/kg. The price of raw rice NL IR 504 is at 9,700 VND/kg; NL OM 5451 rice at 10,100 VND/kg; OM 18 rice at 10,100 VND/kg.

The supply of NL IR 504 rice is scarce at the end of the year. According to traders, the amount of rice arriving today is stable. Demand for fragrant rice is increasing. Factories stepped up purchasing autumn-winter rice and deposited winter-spring rice.

According to traders, currently the Mekong Delta provinces are at the end of the 2020 Fall-Winter rice harvest, about 90% of the Fall-Winter crop area has been harvested. The amount of rice is not abundant, the supply has dried up, so the price of rice is pushed up by traders to buy. The trading market is quiet.

Vietnam’s export rice price this week remained unchanged compared to last week, remaining at 500 USD/ton. This is the highest price since December 2011.

Rice exporters predict that the amount of Vietnamese rice exported this year will reach 6 – 6.2 million tons, lower than the previously set target of 6.5 million tons.

Reuters quoted a businessman in Ho Chi Minh City as saying that rice transactions are very slow at this time, because domestic supply has decreased. Purchasing rice from Cambodia may help alleviate the supply shortage.

On the world market, Thailand’s 5% broken rice is currently priced at 516 – 520 USD/ton, the highest since June 11. Last week, the price of rice in this country was only 480 – 490 USD/ton.

The reason for the price increase is due to a rapid decrease in domestic supply, although demand remains sluggish. There is information that Japanese customers are about to buy Thai rice.

In India, the world’s largest rice exporter, the price of 5% broken parboiled rice this week also increased to 381 – 387 USD/ton, up slightly from 380 – 385 USD/ton last week. Demand from Bangladeshi and African customers is rising.