The domestic rice market remains stable while export prices continue to rise due to tight supply and concerns about the impact of the El Niño phenomenon.
On June 9th, the rice market remained stable in key rice-producing areas of the Mekong Delta. However, internationally, Vietnamese rice prices are pegged at their highest level in over a year due to sustained high import demand from Asia and Africa.
Domestic rice prices remain stable.
In major production areas, the prices of fresh paddy and finished rice have remained relatively stable, reflecting a balance between supply and demand. Finished IR 504 rice is currently trading in the range of 10,750 - 10,900 VND/kg. For the fresh paddy segment, the common price ranges from 5,500 to 6,500 VND/kg depending on the variety.
Fresh rice Farmgate price (VND/kg)
OM 18 / Dai Thom 8 rice 6,400 - 6,500
OM 5451 rice 5,700 - 5,800
IR 50404 rice 5,500 - 5,600
In the retail market, Nang Nhen rice maintains the highest price at 28,000 VND/kg. Popular fragrant rice varieties such as Huong Lai, Nang Hoa, and Jasmine remain stable at around 15,000 - 22,000 VND/kg.
Vietnamese rice export prices lead the region.
On the world market, Vietnamese rice prices continue to maintain a high position thanks to the stable quality of the supply. Jasmine rice is currently being offered at 515-519 USD/ton, while fragrant rice with 5% broken grains fluctuates around 495-497 USD/ton.
These prices are significantly higher than those of its main competitors. Specifically, Thai 5% broken white rice is trading at $459-$463 per ton. Meanwhile, the same type of rice from Pakistan and India is priced lower, at $373-$377 per ton and $340-$344 per ton, respectively.
Supply pressure and the El Niño phenomenon.
According to the latest report from the United Nations Food and Agriculture Organization (FAO), the global rice price index in May increased by 2.7% compared to the previous month, reaching an average of 104.8 points. This marks the second consecutive month of increase in the international market.
The main reasons for this growth include:
- Limited supply: Vietnam is entering the post-harvest period, and stockpiles are no longer abundant.
- Weather concerns: In Thailand, the risks posed by the El Niño phenomenon are causing concern about the yield of upcoming crops.
- Positive demand: Southeast Asian and African countries continue to increase imports to ensure food security.
Experts predict that world rice prices will continue to maintain a stable, high trend in the short term, as factors supporting demand continue to outweigh supply pressures.
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Source: https://baonghean.vn/gia-lua-gao-ngay-96-gia-xuat-khau-cua-viet-nam-dat-muc-cao-nhat-trong-16-thang-10340109.html
