Export Rice Prices Hit a Three-Month High

According to the Vietnam Food Association, the price of 5% broken rice from Vietnam was quoted at $578 per ton on August 22, up from $570 per week earlier.

Along with this, export prices for rice in the top rice-producing countries in Asia rose in unison this week. The price of 5% broken rice from the top exporter, India, ranged from $540 to $545 per ton this week, up from $536 to $540 per ton the previous week.

India has increased procurement prices for farmers in the new crop year by 5.4% to 2,300 rupees ($27.4) per 100 kg.

In Thailand, the price of 5% broken rice stood at $570 per ton, up slightly from $567 per ton the previous week, as traders attributed the price movement to exchange rate fluctuations, while demand remained stable.

(Illustration photo – Source: Investment Newspaper)

In the domestic market, prices of some types of rice in the Mekong Delta continued to increase slightly last week.

In An Giang, according to updates from the Department of Agriculture and Rural Development, many types of rice increased by VND 100-200/kg compared to the previous week: Dai Thom 8 rice is priced at VND 8,400-8,600/kg, OM 5451 at VND 8,200-8,400/kg, OM 18 at VND 8,600-8,800/kg… Some types of rice prices remained unchanged: Japanese rice at VND 7,800-8,000/kg, IR 50404 at VND 7,800-8,000/kg…

For rice products in the retail market in An Giang, regular rice is priced at VND 15,000-16,000/kg; fragrant rice with long grains ranges from VND 20,000 to VND 21,000/kg; Jasmine rice costs VND 18,000-20,000/kg; common white rice is VND 17,000/kg, and Nang Hoa rice is VND 20,000/kg…

For about two weeks now, the price of fresh early summer-autumn rice in Tra Vinh province has increased by VND 500-900/kg. Most rice farmers in Tra Vinh province are very happy because they have a good harvest and high prices.

In this summer-autumn crop, following the recommendations of specialized agencies, Tra Vinh farmers use high-quality rice varieties that meet export standards such as OM 5451, OM 4900, Dai Thom 8, and ST 25, which have high yields and are favored by traders.

In Soc Trang, after harvesting the early summer-autumn rice, farmers in low-lying areas such as Nga Nam town, Chau Thanh district, and My Tu district proceeded to sow the autumn-winter rice crop despite recommendations from competent authorities. According to the authorities, if the autumn-winter crop is sown now, the harvest time will coincide with the rainy season, and the risk of flooding and losses in production will be difficult to avoid. This is because rice prices this year are VND 1,000-1,200/kg higher than last year.