Vietnam: Rice prices today 12/5: Adjusted up in the Mekong Delta

Rice prices today 5/12 in the Mekong Delta continued to increase by 100 VND/kg with some types of rice. World rice prices have fallen in recent weeks, with 5% broken rice widely used in India.

Domestic rice price

Rice price today 5/12 in the Mekong Delta region increased by 100 VND/kg compared to IR 504 rice. Currently, IR 504 rice is being purchased by traders at 6,200 – 6,400 VND/kg.

For the rest of the wheat varieties, prices were flat. Accordingly, at An Giang warehouse, OM 5451 rice is at 6,300 – 6,400 VND/kg; Dai Thong 8 rice is being purchased by traders at 6,600 – 6,800 VND/kg; OM 18 rice is being purchased by traders at 6,400 – 6,500 VND/kg; Miss Hoa 9 6,600 – 6,750 VND/kg; Japanese rice 7,800 – 8,000 VND/kg; Long An dry sticky rice is 8,600 – 8,800 VND/kg, An Giang dry sticky rice is priced at 8,000 – 8,200 VND/kg and IR 504 dry rice is maintained at 6,500 VND/kg.

For rice, the price of raw rice remained stable at 9,850 VND/kg, while the price of finished rice was adjusted up by 100 VND/kg to 11,300 VND/kg.

For by-products, the price of by-products is adjusted to increase with IR 504 plate. Accordingly, the current price of IR 504 sheet is at 9,400 VND/kg, an increase of 100 VND/kg. Meanwhile; Dried bran fluctuates around 7,350 – 7,450 VND/kg. At the retail market, rice prices remained stable after the correction session. Accordingly, rice is usually 11,000 – 12,000 VND/kg; Jasmine fragrant rice 14,000 – 15,000 VND/kg; Soc rice is usually 15,000 VND/kg; intestinal sticky rice 16,000 – 18,000 VND/kg; Nang Nhen Rice 22,000 VND/kg; Common white rice 14,500 VND/kg; Miss Hoa 18,500 VND/kg; Soc Thai 18,000 VND/kg; Taiwanese fragrant rice 20,000 VND/kg; Japanese rice 22,000 VND/kg; Bran 7,500 – 8,000 VND/kg; Long grain Thai fragrant rice maintains 18,000 – 19,000 VND/kg and Huong Lai 19,000 VND/kg. 

World rice price:

In the export market, according to the Vietnam Food Association, the export price of Vietnam’s 5% broken rice is at $488/ton; 25% broken rice at $468/ton; Jasmine rice at 553-557 USD/ton. Asia’s rice production is likely to increase this year, as high rice prices are prompting farmers to expand the area under rice cultivation. Recently harvested off-season rice production in India and Thailand, the world’s top two exporters, has already exceeded 2022 levels and farmers are gearing up to plant the main crop in the coming months, at a price hovers near a two-year high. India’s export restrictions in 2022, coupled with a drop in global output following a heatwave in China and floods in Pakistan, have lifted prices of the staple and deepened inflation concerns Food. However, rice prices have fallen in recent weeks, with the 5% broken rice widely used in India, the world’s largest rice producer, and Thailand, quoted far below the highs. the highest in two years recorded in 2023. Winter rice production in India has increased to 22.8 million tonnes from 18.5 million tonnes a year ago, as above-average rainfall in September and October allowed farmers to expand production. The recovery has offset the drop in the summer crop.