Rice prices today on January 7th, 2024 in the Mekong Delta of Vietnam: Rice prices are stable, market rice prices are increasing

Rice prices today, January 7, in the Mekong Delta remained stable. Over the past week, rice prices of all types fluctuated little while rice prices tended to increase.

Rice prices today, January 7, in the Mekong Delta region continue to trend sideways.

Noted in today’s rice market, farmers continue to offer increased prices for Winter-Spring rice. There is a lot of demand for rice from traders and businesses.

During the past week, rice prices tended to decrease slightly in the middle of the week and increase again at the end of the week. For Winter-Spring rice, farmers continue to offer high prices, while buying demand from traders and businesses is not much, causing slow market transactions.

In the rice market, rice resources are few. Demand from warehouses increased quite a bit, but mainly market rice warehouses. The price of fragrant rice and beautiful sticky rice OM5451 is high. Over the past week, prices of all types of rice have tended to increase for market types of rice due to increased demand for Tet products.

However, according to rice businesses, market purchasing power this Tet season is quite weak. Therefore, businesses do not dare to increase prices or only increase them very little to maintain the market. With very thin profit margins, or even losses, branded rice businesses cut all promotional programs, so Tet season output is forecast to not be as good as usual.

Rice prices today remain stable

Specifically for rice products, according to updates from the Department of Agriculture and Rural Development of An Giang province, the price of IR 504 rice is at 8,900 – 9,100 VND/kg; Dai Thom 8 rice maintained around the mark of 9,600 – 9,800 VND/kg; OM 18 at 9,600 – 9,800 VND/kg; OM 5451 at 9,500 – 9,700 VND/kg; Nang Hoa 9 remains stable at 9,500 – 9,600 VND/kg; OM 380 rice fluctuates around 8,600 – 8,800 VND/kg.

With rice products, rice prices do not fluctuate. At market rice warehouses in An Giang, Tien Giang, Bac Lieu, and Dong Thap, prices were flat compared to yesterday. In An Cu (Cai Be, Tien Giang), the price of raw rice OM 18 and Dai Thom 8 fluctuates around 14,400 – 14,600 VND/kg; OM 5451 raw rice maintained at 14,100 – 14,200 VND/kg; IR 504 Vietnamese raw rice at 13,150 – 13,150 VND/kg; OM 380 raw rice fluctuates around 13,000 – 13,100 VND/kg.

Meanwhile, at IR 504 Viet raw rice export warehouse maintained at 13,050 – 13,150 VND/kg; Raw rice fluctuates at 12,900 – 13,000 VND/kg; Soc Trang raw rice at 12,250 – 12,350 VND/kg; OM 5451 raw rice at 13,700 – 13,800 VND/kg; Raw rice OM 18, Dai Thom 8 at 14,050 – 14,150 VND/kg.

On retail markets, rice prices of all types have almost no fluctuations. Accordingly, rice prices usually fluctuate around 15,000 – 16,500 VND/kg; Jasmine fragrant rice 17,000 – 18,500 VND/kg; Nang Nhen rice 26,000 VND/kg; long-sliced ​​pineapple 19,000 – 20,000 VND/kg; Huong jasmine rice 19,500 VND/kg; Common white rice 17,000 VND/kg; Nang Hoa rice 19,500 VND/kg; Soc rice usually costs 18,500 – 19,500 VND/kg; Thai squirrel rice 28,500 VND/kg; Taiwanese fragrant rice 21,000 VND/kg; Japanese rice 22,000 VND/kg.

In the export market, Vietnam’s export rice prices remain stable. According to the Vietnam Food Association (VFA), the current export price of Vietnam’s 5% broken rice is at 653 USD/ton; 25% broken rice at 633 USD/ton.

Many exporters said supply is still low and predict demand for Vietnamese rice will be strong this year, especially from the Philippines and China.

On the Asian rice market, this weekend, the price of 5% broken parboiled rice was traded at 510 – 517 USD/ton, the highest level since the end of October 2023, compared to 508 – 515 USD/ton of last week.