Rice prices on 09/30/2024: Remain unchanged

Rice prices on September 30 domestically

The rice market on September 30 remains stable for both rice and paddy.

Today's rice prices on September 30 show no new fluctuations.

Long An sticky rice (dry) is priced at VND 9,800 - 10,000/kg; Long An IR 4625 sticky rice (dry) is priced at VND 9,500 - 9,700/kg;

IR 50404 rice is around VND 7,100 - 7,300/kg; Daithom 8 rice is at VND 8,000 - 8,200/kg;

OM 5451 rice is trading at 7,400 - 7,700 VND/kg; OM 18 rice is priced at 7,500 - 7,800 VND/kg;

OM 380 rice remains around VND 7,300/kg; Japanese rice is priced at VND 7,800 - 8,000/kg;

Nang Nhen rice (dry) is trading at VND 20,000/kg; while Nang Hoa 9 is priced at VND 6,900 - 7,000/kg.

Similarly, today's rice prices on September 30 also remain stable.

The raw IR 504 rice for the summer-autumn season is priced at VND 10,450 - 10,600/kg; the finished IR 504 rice is at VND 12,800 - 12,900/kg;

The sticky rice is priced at VND 18,000 - 22,000/kg; ordinary rice is priced at 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 - 22,000/kg; Jasmine fragrant rice is priced at VND 18,000 - 20,000/kg; Huong Lai rice remains at VND 18,000/kg.

Common white rice is purchased at VND 17,000/kg; Nang Hoa rice is at VND 20,000/kg; Soc rice remains at VND 18,000 - 18,500/kg; and Soc Thai rice is at VND 21,000/kg.

Taiwan fragrant rice is priced at VND 21,000/kg; while Japanese rice is stable at VND 22,000/kg.

The price of OM 5451 broken rice is at VND 9,600 - 9,700/kg, and the price of dry bran is at VND 6,000 - 6,050/kg.

On the export market, the price of 100% broken rice is at $ 454/ton; the price of 5% broken rice is $ 562/ton. Meanwhile, the price of 25% broken rice is at $ 532/ton.

Thus, rice prices in the domestic market on 09/30/2024, have not changed compared to yesterday.

India lifts ban on non-basmati white rice exports

On September 28, India lifted the ban on non-basmati white rice exports, along with a floor price condition of $ 490/ton. Previously, the country halved the export tax on basmati rice (the long-grain fragrant rice from India and several South Asian countries) to 10%. This South Asian nation currently has abundant supplies, with reserves reaching 32.3 million tons, an increase of nearly 39% from last year.

This move has led to a cooling of global rice prices as supply in the global market increases. Last week, the price of 5% broken rice from Vietnam dropped to $ 560/ton, down $ 20 from the previous week. Similarly, Thai rice also fell to $ 550/ton, the lowest level in over a year.

A leader of a rice exporting company in Dong Thap stated that India's return to the market will put downward pressure on prices for both 5% and 25% broken rice.

Mr. Dinh Ngoc Tam, Deputy General Director of Co May Company, also commented that rice prices will decrease but are unlikely to fall below $ 500/ton due to the limited domestic supply.

In the tender for 450,000 tons of rice from Indonesia, Vietnam won 59,000 tons at a price of $ 548/ton, down $ 32 from the previous week. Despite the drop in rice prices, demand from major markets such as the Philippines, Indonesia, and Malaysia remains high, maintaining strong demand pressure for Vietnamese rice.

$ 1 = VND 24.370 - Source: Vietcombank.