Rice prices on 09/18/2024: The market fluctuates slightly

Rice prices on September 18 domestically

The rice market on September 18 is seeing mixed fluctuations, with a slight rise in rice prices but varying changes in paddy prices.

Paddy prices today are moving in opposite directions. New paddy transactions in An Giang and Hau Giang are limited, with a slight increase in prices. In Hau Giang, Autumn-Winter paddy buying prices are relatively stable, and transactions remain steady. Meanwhile, in Can Tho, prices are firm, though new paddy transactions are slow.

• Fresh An Giang sticky rice is holding at VND 7,000 – 7,200/kg; fresh Long An sticky rice is around VND 7,400 – 7,600/kg;
• Dried Long An sticky rice is priced at VND 7,000 – 7,900/kg; fresh IR 4625 sticky rice is around VND 7,400 – 7,600/kg;
• IR 50404 paddy is holding at VND 7,300 – 7,500/kg; fragrant paddy variety Dai Thom 8 is priced at VND 8,000 – 8,200/kg (up VND 100);
• OM 5451 paddy is trading at VND 7,600 – 7,900/kg; OM 18 paddy is priced at VND 7,800 – 8,000/kg (down VND 100-200);
• OM 380 paddy remains at VND 7,600 – 7,800/kg; Japanese paddy is steady at VND 7,800 – 8,000/kg;
• Dried Nang Nhen paddy is being traded at VND 20,000/kg; Nang Hoa 9 paddy is holding at VND 6,900 – 7,000/kg.

Meanwhile, rice prices have seen a slight increase today. In An Giang, supply is low, and warehouse purchasing is stable. In Lap Vo, prices are relatively unchanged with a decent supply. At An Cu (Soc Trang), warehouses are buying steadily, with good-quality rice and stable prices.

• The price of IR 504 Summer-Autumn raw rice is VND 10,850 – 10,900/kg (up VND 100-150); finished IR 504 rice is priced at VND 13,000 – 13,200/kg (up VND 100);
• Sticky rice is currently priced at VND 16,000 – 20,000 VND/kg; regular rice is around VND 15,000 – 16,000/kg; Nang Nhen rice is priced at VND 28,000/kg.
• Long-grain fragrant Thai rice is priced at VND 20,000 – 21,000/kg; fragrant Jasmine rice is priced at VND 18,000 – 20,000/kg; Huong Lai fragrant rice holds steady at VND 20,000/kg.
• Regular white rice is being purchased at VND 17,000/kg; Nang Hoa rice is priced at VND 20,000/kg; regular Soc rice remains at VND 18,500/kg, while Soc Thai rice is priced at VND 20,000/kg.
• Fragrant Taiwanese rice is priced at VND 21,000/kg, and Japanese rice is steady at VND 22,000/kg.
• Meanwhile, broken OM 5451 rice is priced at VND 8,600 – 8,800/kg, and dried bran is priced at VND 6,000 – 6,100/kg (down VND 100).

On the export market, the price of 100% broken rice is at $ 455/ton (up $ USD); 5% broken standard rice is priced at $ 565/ton (up $ 2). Meanwhile, 25% broken rice is priced at $ 535/ton (up $ 2).

Thus, domestic rice prices on 09/18/2024, are showing mixed movements compared to yesterday.

Opportunities and challenges in low-emission rice production

On September 17, the National Innovation Center (under the Ministry of Planning and Investment) in collaboration with the Vietnamese Australian Scholars and Experts Association (VASEA) organized a workshop titled “Promoting Green Innovation in Agriculture through Market Mechanisms.”

Economic, policy, and sustainable development experts from the Australian National University presented at the workshop to highlight the opportunities and challenges of promoting low-emission rice production through market mechanisms.

According to Associate Professor Dr. Chu Hoang Long, in general, rice producers must bear the costs of reducing greenhouse gas emissions. To encourage emission reduction efforts, rice producers need to be compensated economically.

“The process of monitoring, verification, and reporting (MRV) is crucial for implementing market mechanisms. Some production groups have reported that they have applied input-efficient techniques, but in reality, the costs are higher,” said Associate Professor Dr. Long.

Agreeing with Associate Professor Dr Long, expert Nguyen Thi Hai further explained that participation in carbon projects requires farmers to adopt more advanced farming techniques compared to traditional methods. However, this not only helps reduce methane emissions but also brings other benefits, such as reducing water usage, lowering production costs, and increasing productivity.

Moreover, by committing to low-emission rice farming, farmers can access training and resources, contributing to the long-term sustainability of agricultural land.

$ 1 = VND 24.440 – Source: Vietcombank.