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Rice price increased to 9,4000 VND/kg – record high

Rice price increased to 9,4000 VND/kg - record high

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Rice price in the Mekong Delta region increased to 9,400 VND/kg, inching up slightly compared to last week. Many localities entered the peak of autumn-winter rice harvest with the joy of a good harvest and unprecedented prices.

Rice price increased to 9,400 VND/kg

According to updates from the Department of Agriculture and Rural Development of An Giang province, the price of rice varieties such as Dai Thom 8 ranges from 9,200 – 9,300 VND/kg; Hoa 9 price ranges from 9,200 – 9,300 VND/kg, increasing by 200 – 300 VND/kg; IR 50404 from 8,800 – 9,000 VND/kg, increased 200 VND/kg; OM 18 is at 9,100 – 9,200 VND/kg, an increase of 200 VND/kg. Some types remain stable such as: Japanese rice from 7,800 – 8,000 VND/kg, OM 5451 from 8,800 – 9,000 VND/kg.

Meanwhile, with sticky rice, the price of dried An Giang sticky rice and dried Long An sticky rice both fluctuates from 9,400 – 9,800 VND/kg.

For rice products on the retail market in An Giang, rice is usually priced from 15,000 – 16,500 VND/kg; long-grain fragrant rice from 18,000 – 20,000 VND/kg; Jasmine rice from 18,000 – 19,000 VND/kg; Common white rice 17,000 VND/kg, Nang Hoa rice 19,500 VND/kg….

Currently, localities are entering the sprint harvest phase with Fall-Winter 2023 rice. In Can Tho, this year’s Fall-Winter crop, farmers in the area mainly produce high-quality and fragrant rice such as: OM 5451, OM 18, OM 380, Dai Thom 8….

Thanks to selling rice at high prices and good productivity, many farmers earned profits more than double compared to the same period last year. Many types of fresh rice are sold by farmers for 7,300 – 8,500 VND/kg, which is also a record high price for many years.

Rice price increased to 9,4000 VND/kg - record high
Farmers in Vinh Khanh commune, Thoai Son district (An Giang), harvest autumn and winter rice.

The autumn-winter rice harvest in Dong Thap is almost finished, with an average yield of 60.4 tons/ha. The price of high quality rice is bought by traders at the field for 9,200 VND/kg, some places sell it for 9,400 VND/kg, the price of rice is 2,500 – 3,000 VND/kg higher than the same period in 2022. After deducting costs, the Fall-Winter rice crop in Dong Thap has a profit of more than 30 million VND/ha, an increase of 15 million VND/ha compared to the same period in 2022.

An Giang is also entering peak harvest, favorable weather, high productivity, prices of fresh rice sold in the fields have increased “record”, at least 1,000 – 2,500 VND/kg higher than the same period last year. . People are very excited because rice prices have never been as high as they are now. The joy is doubled when the Autumn-Winter crop has both a successful season and a good price.

According to Director of the Department of Agriculture and Rural Development of An Giang province – Nguyen Si Lam, in the Fall-Winter 2023 crop, the whole province has sown more than 157,000 hectares, so far more than 50,000 hectares have been harvested, reaching more than 32% of the sowing area and productivity. The average is estimated at 57.8 tons/ha. In addition to the production-linked area, whose output is covered by businesses, the remaining area is sold by farmers to traders and receives an agreed deposit more than 1 month before harvest time, so farmers are very happy. and peace of mind.

Rice prices increased in most “rice bowls” of Asia

While the domestic rice market is still thriving, rice prices in most of Asia’s “rice bowls” have also increased in the past week. India’s parboiled rice export prices increased due to improved market demand. But the price increase has been somewhat limited because of abundant supply from the new crop.

India’s 5% broken parboiled rice was quoted at 493 – 503 USD/ton this week, higher than the range of 490 – 500 USD/ton last week.

An exporter in Kakinada, Andhra Pradesh state, said that even when paying a 20% export tax, Indian rice is still cheaper than supplies from other countries. Last month, India extended its rice export restrictions, with a 20% tariff on parboiled rice remaining in effect until March 2024.

Rice price increased to 9,4000 VND/kg - record high
Rice prices increased in most “rice bowls” of Asia.

In Thailand, the price of this country’s 5% broken rice is listed at 570 – 575 USD/ton, up from 562 USD/ton last week.

A Bangkok-based trader said persistent new demand from Asian buyers had supported prices. Another trader said prices could rise further due to demand from Indonesia, Malaysia, the Philippines and Iraq. The Thai Rice Exporters Association has raised its rice export forecast to 8.5 million tons this year, higher than the previous estimate of 8 million tons.

Meanwhile, Vietnam’s 5% broken rice is offered at 650 – 655 USD/ton. This price is unchanged from a week ago and domestic supply remains low.

A trader based in Ho Chi Minh City said trading activity was quiet as buyers hesitated to place orders because of high prices.

Emilia Chaney
Emilia Chaneyhttps://agrisearch.net
My name is Emilia Chaney. I'm a social girl from Romania with a big smile and 3 passions: Agriculture, Travel and Social Media. I try to make this blog practical, full of great advice and inspiring ideas.

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