Rice price today on August 25, 2023 in the Mekong Delta of Vietnam: High anchor price, businesses stop buying to observe the market

Rice prices today on August 25, 2023 remained stable. High anchor prices slow down transactions and traders and businesses stop buying to observe the market.

Rice prices today on August 25, 2023 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 on the morning of August 25, the price of IR 504 rice is at 7,750 – 7,900 VND/kg; OM 5451 remained around 7,750 – 8,000 VND/kg; price of OM 18 rice at 7,800 – 8,200 VND/kg; Miss Hoa 9 is priced at 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.

With glutinous rice, the price does not fluctuate. Accordingly, Long An sticky rice (fresh) is at 7,200 – 7,500 VND/kg; An Giang fresh sticky rice 6,300 – 6,400 VND/kg.

For rice, the price of raw rice and finished products slowed down after a downward correction. Accordingly, the price of raw rice fluctuates around 12,450 VND/kg; finished rice at 14,550 VND/kg.

With by-products, by-product prices fluctuate in opposite directions. Accordingly, the price of IR 504 sheet increased by 100 VND/kg to 12,100 VND/kg; meanwhile, the price of dried bran decreased by 100 VND/kg to 7,500 VND/kg.

According to traders, today the amount of rice is less, the wharfs are empty, the warehouses are slow to buy. Each warehouse can buy 1-3 buckets of rice. Small market rice transactions.

In the rice market, the price of summer-autumn rice is high, most of the rice has been staked in advance, waiting for the cutting date. Autumn-Winter rice continues to be high, being asked to buy a lot.

In the rice export market, according to the Vietnam Food Association, at the end of the trading session on August 24, Vietnam’s export rice price maintained the highest position in the world. Accordingly, the price of 5% broken rice is at 638 USD/ton; 25% broken rice at $623/ton.

According to exporters, the export price of Vietnamese rice is still the most expensive among exporters in Asia. Meanwhile, domestic supply is still scarce and this makes it impossible for exporters to sign new contracts. Preliminary shipping data shows that 339,880 tons of rice will be loaded at the port of Ho Chi Minh City. Ho Chi Minh City from August 1 to 26.

As for Thailand, the country’s export price of 5% broken rice rose to $630/ton from $615-620/ton last week. This increase is due to some deliveries made in small quantities.

Mr. Phan Van Co, Marketing Director of Vrice Group Co., Ltd. said that Vietnam’s export rice price is quite high. Currently, domestic exporters are delaying orders or negotiating with customers to adjust prices or cancel contracts. However, with the solution to negotiate to increase the price, most customers disagree, because the price of Vietnamese rice is currently higher than that of Thailand, the United States and the world’s leading. “The price of rice is too high, but when the quality is just average, it will cause importers to choose other suppliers,” added Mr. Co.

Typically, the Iraqi market used to buy white rice from Vietnam before, however, recently, the price of Vietnamese rice increased, so they switched to buying rice from the United States with the amount of 60,000 tons. Or some African markets have also found other cheaper sources instead of Vietnamese rice. Therefore, if we are not careful, in the next 1-2 months we will lose the Philippines and China markets. At that time, if we want to renegotiate, we need to wait until next year. This not only affects rice export activities in the coming time, but also makes the image of Vietnamese rice in the international market not beautiful.