Rice prices on 09/05/2024: Mixed movements

Rice prices on September 5 domestically

The rice market on August 29 saw low buying activity, slow transactions, and slight price fluctuations.

Rice prices have been relatively stable today. In Ca Mau, where rice is in full bloom, prices have slightly decreased. In Long An, with rice waiting to be harvested, prices have slightly dropped, and buying activity is low. In Sóc Trăng, prices continue to decrease after the holiday, and transactions are slow.

Accordingly:

• An Giang sticky rice (fresh) remains at VND 7,000 – 7,200/kg; Long An sticky rice (fresh) is around VND 7,400 – 7,600/kg;
• Long An sticky rice (dried) is priced at VND 7,000 – 7,900/kg; IR 4625 sticky rice (fresh) remains around VND 7,400 – 7,600/kg;
• IR 50404 rice is holding steady at VND 7,900 – 8,000/kg; Dai Thom 8 rice remains at VND 8,500 – 8,600/kg;
• OM 5451 rice is trading at VND 8,200 – 8,400/kg; OM 18 rice is priced at VND 8,500 – 8,600/kg;
• OM 380 rice is holding steady at VND 7,600 – 7,800/kg; Japanese rice remains at VND 7,800 – 8,000/kg;
• Nang Nhen rice (dried) is trading at VND 20,000/kg; Nang Hoa 9 rice remains at VND 6,900 – 7,000/kg.

Meanwhile, rice prices today have increased slightly, with fewer supplies coming in after the holiday, and transactions are slow. In An Cu, rice prices have decreased slightly, with limited supplies and slow purchasing at warehouses. In Sa Dec, bad weather has caused warehouses to receive less stock, making it difficult to select good quality rice.

• IR 504 summer-autumn material price is priced at 11,250 – 11,350 VND/kg (a decrease of VND 150);
• IR 504 processed rice is priced at VND 13,250 – 13,350/kg (an increase of VND 50);
• Sticky rice is priced at VND 16,000 – 20,000/kg;
• Regular price is priced at VND 15,000 – 16,000/kg; Nang Nhen rice is priced at VND 28,000/kg;
• Thai fragrant long-grain rice is priced at VND 20,000 – 21,000/kg; Jasmine rice is priced at VND 18,000 – 20,000 VND/kg; Huong Lai rice remains at VND 20,000/kg;
• Common white rice is purchased at VND 17,000/kg; Nang Hoa rice is VND 20,000/kg; Soc rice usually maintains at VND 18,500/kg; Thai Soc rice is at VND 20,000/kg;
• Taiwanese fragrant rice is priced at VND 21,000/kg; Japanese rice remains at VND 22,000/kg;
• OM 5451 broken rice is priced at VND 9,200 – 9,300/kg; dried bran is at VND 6,800 – 6,900/kg (a decrease of VND 100).

In the export market, 100% broken rice is priced at $ 452/ton; 5% broken rice is priced at $ 575/ton; 25% broken rice is priced at $ 535/ton.

Thus, domestic rice prices on 09/05/2024, have seen slight fluctuations.

Finance is a key factor in the rice value chain

A major challenge in implementing the 1 million ha of high-quality rice project is the need for around $ 2.1 billion by 2030 to apply new production processes in agriculture, forestry, and land use.

Therefore, both domestic and international experts suggest that farmers and cooperatives need to follow low-emission rice production processes. At the same time, government agencies need to continue supporting farmers and cooperatives in applying technology, techniques, and machinery, and investing in infrastructure effectively.

To successfully implement the project, Vietnam needs a significant effort not only from the government but also from businesses, cooperatives, and directly involved farmers to mobilize investment resources from society as a whole.

Mr. Nguyen Do Anh Tuan, Director of the International Cooperation Department (Ministry of Agriculture and Rural Development), emphasized that rice production is a traditional and important sector in Vietnam, providing livelihoods for tens of millions of farmers across the country.

Access to finance is a key factor helping farmers and businesses, cooperatives in the rice value chain to invest in new technologies, improve production processes, and enhance economic efficiency.

Post-harvest stages also need attention, with investments in techniques and machinery to maximize income from straw, as this is also a significant source of revenue for farmers and cooperatives.

“The trend of using low-carbon, environmentally friendly products is creating market advantages and increasing the export value of low-emission products. Moreover, according to calculations, revenue from selling straw from the 1 million ha of high-quality low-emission rice project in the Mekong Delta region will be equivalent to about VND 2,000 billion/year. Therefore, it is necessary to increase the value of straw to boost income for farmers”, Mr Tuan shared.

$ 1 = VND 24.560 – Source: Vietcombank.