AsemconnectVietnam - On Monday, rice prices remained unchanged compared to Yesterday in Vietnam's Mekong Delta region, according to Kinhtedothi.

According to updates from the Department of Agriculture and Rural Development of An Giang province, the average price of undried paddies purchased at the field was 7,200 - 8,000 VND/kg. Specifically, Taiwan fragrant paddy ranged from 7,800 to 8,000 VND/kg, IR 504 paddy from 7,200 to 7,300 VND/kg; OM 5451 paddy from 7,300 to 7,400 VND/kg; Nang Hoa 9 paddy from 7,500 to 7,700 VND/kg; OM 18 paddy from 7,600 to 7,800 VND/kg; Japanese paddy 7,800 - 8,000 VND/kg.
In many localities such as Can Tho, Tien Giang, An Giang, Dong Thap, Soc Trang, and Kien Giang... prices of all types of paddy are stable.
In the rice market, rice prices of all types remained unchanged. At rice warehouses Sa Dec (Dong Thap) and Cai Be (Tien Giang), the factories offer steady sales and prices are stable.
Specifically, at market rice warehouses in An Cu and Cai Be (Tien Giang), the price of raw rice OM 18 stayed at 12,400 - 12,500 VND/kg; Taiwan fragrant rice at 12,800 - 12,900 VND/kg; OM 5451 raw rice fluctuated around 11,900 - 12,000 VND/kg; OM 380 at 11,500 - 11,700 VND/kg; Japanese raw rice at 12,700 - 12,800 VND/kg; ST 21 raw rice at 14,000 - 14,100 VND/kg; ST 24 raw rice is at 14,500 - 14,700 VND/kg.
At retail markets, rice prices often fluctuated around 15,000 - 16,000 VND/kg; Nang Nhen rice 26,000 VND/kg; Jasmine rice 17,500 - 19,000 VND/kg; long-sliced pineapple 19,000 - 20,000 VND/kg; Huong Lai jasmine rice 21,000 VND/kg; Taiwanese fragrant rice 20,000 VND/kg.
On the export market, Vietnam's rice export price remains stable. According to the Vietnam Food Association (VFA), the current price of 25% broken rice is traded at 570 USD/tonne; 5% broken rice at 594 USD/tonne; and 100% broken rice at 498 USD/tonne.
Positive prospects are forecast for Vietnam’s rice export in 2024, with bright signs in both market and price.
Last year, Vietnam continued to be one of the top three rice exporters in the world, accounting for about 15% of total global rice exports.
Specifically, the country shipped 8.1 million tonnes of rice abroad, earning 4.6 billion USD, up 14.4% in volume and 35.3% in value year-on-year
Nguyen Thi Huong, General Director of the General Statistics Office under the Ministry of Planning and Investment, cited the US Department of Agriculture’s forecast data as saying that global rice production in the 2023-2024 crop year will reach nearly 518 million tonnes, while total consumption will be 525 million tonnes. It means that the world will face a shortage of about 7 million tonnes of rice in 2024.
This will create opportunities for rice exporters, including Vietnam, Huong said, adding that this year, Vietnam can fully ensure supply to export the same volume of rice as in 2023 while ensuring food security.
The global rice supply is forecast to no longer be abundant when supply from India, which accounts for 40% of the world rice export, will reduce by 4 million tonnes compared to the previous crop. Other markets such as the Philippines, Indonesia, Thailand and Cambodia are also predicted to reduce output due to the impact of the El Nino phenomenon and climate change.
Nguyen Anh Son, Director of the Import-Export Department under the Ministry of Industry and Trade, forecast that rice prices will increase in 2024 due to tightened supply.
T.Huong
Source: Vitic/Kinhtedothi