Rice price today on August 26, 2023 in the Mekong Delta of Vietnam: Domestic rice prices fall, export prices may skyrocket in the short term

Rice prices today on August 26 fluctuated in opposite directions when rice remained stable while rice prices decreased slightly. Particularly, export prices are forecasted to increase in the short term.

Rice prices today on August 26 in the Mekong Delta region remained stable after an upward correction.

Accordingly, in An Giang, according to the update of the Department of Agriculture and Rural Development of An Giang province, the price of IR 504 rice today did not fluctuate and remained at 7,750 – 7,900 VND/kg; OM 5451 is stable at 7,750 – 8,000 VND/kg; OM 18 rice price ranges from 7,800 – 8,200 VND/kg; Hoa 9 kept stable 7,800 – 8,200 VND/kg; Nang Nhen rice (dry) at 15,000 VND/kg; Dai Thom 8 rice and Japanese rice were stable at 7,800 – 8,000 VND/kg.

Similarly, the price of glutinous rice remained unchanged at 7,200 – 7,500 VND/kg of Long An sticky rice (fresh) and fresh An Giang sticky rice was 6,300 – 6,400 VND/kg.

For rice, after yesterday’s stagnation, today’s rice price adjusted slightly from 100-125 VND/kg.

In which, the price of raw rice fluctuates around 12,250 – 12,400 VND/kg (down 125 VND); finished rice at 14,350 – 14,450 VND/kg (down 100 VND).

With by-products, it stabilized after yesterday’s drop. Accordingly, the price of IR 504 plate is at 12,000 – 12,100 VND/kg; meanwhile, the price of dried bran remains 7,500-7,550 VND/kg.

According to traders, the summer-autumn rice weekend is still at a high level. Autumn-winter rice continues to offer high sales in Can Tho, Kien Giang and Dong Thap. Traders and businesses ask to buy.

As for rice, today the amount of rice is less than yesterday. The source is back to the rai, the demand for the warehouse is slow, and the price is overvalued. Rice prices fluctuate slightly according to quality.

In the rice export market, according to the Vietnam Food Association, Vietnam’s export price of rice is still at $638/ton with 5% broken rice and 25% broken rice at $623/ton.

Recently, in the business world, there is information that Myanmar will limit rice exports in the next few days. Psychologically, this information will greatly affect the rice market in the near future.

In fact, these concerns are entirely possible because India’s previous ban on rice exports has caused global rice prices to skyrocket because this country does not export white rice, which will make the world market short. about 7-8 million tons of rice is missing. Meanwhile, the additional capacity from the two main suppliers, Thailand and Vietnam, can only add up to 2 million tons. Not to mention, natural disasters are taking place everywhere, causing serious damage to crops in many countries around the world.

According to Mr. Do Ha Nam, Vice President of the Vietnam Food Association, the current domestic price of Vietnamese rice is not as high as in 2008, but it is already at a very high level. Mr. Nam said that Myanmar’s export restriction order may increase the price of rice in the market a little in the short term, but it will not be too high. Because with the current rice price, the transaction is very weak, only a few businesses can get small value contracts. Traditional customers like the Philippines or China are still hesitant to close the order even though the demand is real.