Stabilize export rice prices at low levels.

Rice prices today, August 4th: Stable, export rice prices remain low. (Illustration: nongnghiep.vn)

At retail markets, rice prices remained unchanged for individual rice varieties. Currently, Nang Nhen rice is listed at the highest price of 30,000 VND/kg; Jasmine rice at 18,000 - 20,000 VND/kg; Nang Hoa rice at 20,000 VND/kg; regular white rice fluctuating around 15,000 - 16,000 VND/kg; long-grain Thai fragrant rice at 20,000 - 21,000 VND/kg; Huong Lai rice at 20,000 VND/kg; Taiwanese fragrant rice at 21,000 VND/kg; common white rice at 17,000 VND/kg; regular Soc rice at 18,500 VND/kg; Soc Thai rice at 20,000 VND/kg; and Japanese rice at 22,000 VND/kg.

Regarding rice, observations in various localities show that rice trading is sluggish, rice prices are relatively stable, and farmers are quoting firm prices.

Specifically, according to updates from the Department of Agriculture and Rural Development of An Giang province, today's rice prices remain unchanged compared to yesterday. IR 50404 rice is priced around 6,900 - 7,000 VND/kg; Dai Thom 8 rice is priced at 7,400 - 7,600 VND/kg; OM 5451 rice is priced at 7,000 - 7,200 VND/kg; OM 18 rice is priced at 7,500 - 7,700 VND/kg; OM 380 rice ranges from 6,800 - 7,000 VND/kg; Nhat rice is priced at 7,800 - 8,000 VND/kg; Nang Hoa 9 rice is priced at 6,900 - 7,000 VND/kg, and Nang Nhen (dried) rice is at 20,000 VND/kg.

Accordingly, the glutinous rice market remained unchanged compared to yesterday. Long An glutinous rice (dried) is priced at 7,000 - 7,900 VND/kg, stable from yesterday. IR 4625 glutinous rice (fresh) is priced at 7,200 - 7,400 VND/kg. Long An glutinous rice (fresh) is priced at 7,400 - 7,600 VND/kg. An Giang glutinous rice (fresh) is priced at 7,000 - 7,200 VND/kg, unchanged from yesterday.

Regarding rice, prices remained unchanged compared to yesterday. Specifically, raw IR 504 summer-autumn rice was priced at 11,050 - 11,150 VND/kg; finished IR 504 rice was priced at 13,200 - 13,300 VND/kg.

On the export market, Vietnamese rice export prices remained unchanged compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice was priced at US$435/ton; standard 5% broken rice remained stable at US$559/ton; and 25% broken rice was priced at US$524/ton.

According to a report by the Ministry of Agriculture and Rural Development, in the first seven months of 2024, Vietnam exported 5.18 million tons of rice worth $3.27 billion, an increase of 25.1% in volume and 5.8% in value compared to the same period last year.

In the first seven months of the year, the area planted with rice reached 6.25 million hectares, an increase of 0.2% compared to the same period last year; harvested 3.82 million hectares, an increase of 1.3%; average yield was 65.6 quintals/hectare, an increase of 0.5 quintals/hectare; rice production from the harvested area reached 25 million tons, an increase of 2%.

Compared to a year ago – a time when the rice market was booming due to the impact of India's rice export ban – current rice prices are at a similar level. The rice market has almost established a new price benchmark.

However, export rice prices have seen a slight decrease compared to a year ago. Specifically, on August 3, 2023, the export price of 5% broken rice from Vietnam was 593 USD/ton; and 25% broken rice was 573 USD/ton.