Rice price today on August 8, 2023 in the Mekong Delta of Vietnam: The price of rice continues to increase sharply by 300-600 VND/kg

Rice prices today on 8/8/2023 in the domestic market continued to increase sharply with rice and rice. The summer-autumn rice market is vibrant.

Rice prices today on 8/8/2023 in the Mekong River Delta continued to increase. Accordingly, in An Giang, according to the update of the Department of Agriculture and Rural Development of An Giang province on the morning of August 8, the price of IR 504 rice is at 7,100-7,300 VND/kg, an increase of 300 VND/kg; Dai Thom 8 rice at 7,400-7,600 VND/kg, up 500 VND/kg; OM 5451 at 7,300 – 7,600 VND/kg, an increase of 300 VND/kg; OM 18 at 7,500 – 7,800 VND/kg, an increase of 600 VND/kg.

With the remaining rice varieties, anchor prices are high. Specifically, Miss Hoa 9 costs 7,200 – 7,600 VND/kg; Japanese rice is also stable at 7,800 – 8,000 VND/kg; Nang Nhen rice (dry) at 13,000 VND/kg.

For Long An sticky rice (fresh) at 6,700 – 7,000 VND/kg, up 100 VND/kg; price of fresh An Giang sticky rice at 6,300 – 6,600 VND/kg; AG (dry) sticky rice at 7,700 – 7,900 VND/kg; Long An sticky rice (dry) costs 7,700 – 7,900 VND/kg.

In Dong Thap, currently, the price of high-quality summer-autumn rice is purchased by traders at the field for 7,100 VND/kg, an increase of 1,300 VND/kg over the same period in 2022; Common rice IR50404 price is 6,500 VND/kg, an increase of 1,050 VND/kg over the same period in 2022.

For rice, the price of raw rice in the morning of August 8 was at 12,200 – 12,250 VND/kg, increasing by 100 – 150 VND/kg; Finished rice also increased by 100 VND/kg to 14,200 VND/kg.

For by-products, the price of by-products increased with IR 504 plate. Accordingly, the plate price was at 11,600 VND/kg, an increase of 100 VND/kg; dry bran at 7,700 VND/kg.

According to traders in the Mekong Delta region, today the amount of raw rice has arrived, and the demand is high. Many traders said that it is rare for the price of rice to increase as quickly and strongly as now, so the “will increase” mentality is causing many people to hesitate to sell immediately.

On the rice export market, according to the Vietnam Food Association, on August 4, the export price of 5% broken rice traded at $618/ton; 25% broken rice at 598 USD/ton.

According to many exporters, the limited supply combined with the psychological impact pushed up the price of rice sharply. The market fell into a state of anxiety, so most stopped trading.

Mr. Nguyen Van Don, Director of Viet Hung Co., Ltd in Tien Giang, said, we are currently suspending exports because we cannot buy rice and the market is too risky. The price of regular rice is now over 7,500 VND/kg, while rice 3 days ago was 15,000 VND/kg, now it has increased to 16,200 VND/kg. This is the price of rice materials to make 5% broken white rice to export to the Philippines, the finished product price must be at 700 USD/ton for businesses to make a profit. But at this price, customers refuse to buy. “What people are most afraid of is not knowing when India will lift its export ban. If it signs a high price now, it is likely to suffer heavy losses,” Mr. Don explained.