Domestic rice prices slightly decrease, supermarkets launch promotions
The Department of Agriculture and Environment of An Giang province said that the price of fresh rice currently fluctuates at 5,200 - 6,600 VND/kg depending on the type. Of which, OM 18 rice price reached the highest level, at 6,500 - 6,600 VND/kg; while OM 380 rice had the lowest price, only 5,200 - 5,400 VND/kg.
The price of raw and finished rice tends to decrease slightly. OM 380 raw rice decreased by 100 VND/kg compared to last week, fluctuating at 7,700 - 7,850 VND/kg. Raw rice 5451 fluctuates at 8,550 - 8,650 VND/kg. OM 380 finished rice ranges from 8,800 - 9,000 VND/kg; IR 504 finished rice ranges from 9,500 - 9,700 VND/kg.
Recorded at GO supermarket! Long Bien (Long Bien District, Hanoi) on March 19, many types of rice are currently being heavily discounted with promotional programs. 5kg Neptune ST24 Special kind of Thom Rice decreased from 198,900 VND/bag to 140,000 VND/bag. Neptune ST25 rice 5kg decreased from 228,900 VND/bag to 178,500 VND/bag, applicable until May 7. ST25 King's 5kg Thaoaoaoaoaoaoaoaoaoao Thong Hoa Thong Hoa Thong se se se se se se se duoc duoc cai cai cai tu 249,000 VND/ tui len 190,900 VND/ tui len len len len len 190,900 VND/ tui.
In addition to discounted products, some types of rice here still maintain the listed level. 5kg young rice harvested at Dien Bien is priced at 226,900 VND/bag, ST25 Ong Cua rice is continued to be sold at 239,900 VND/bag, while Thai Do 8kg rice is priced at 179,900 VND/bag.
At Winmart supermarket (Yen Hoa ward, Cau Giay district, Hanoi), some types of rice have also been adjusted down to stimulate consumption.Currently, ST25 Ngoc Nuong 3kg Rice is reduced from 115,000 VND/bag to 87,000 VND/bag, applied until March 16.ST25 Ngoc Nuong Special Forces 3kg Rice is adjusted from 123,000 VND/bag to 97,900 VND/bag.
ST25 Vinaseed 3kg rice decreased from 107,000 VND/bag to 99,900 VND/bag.Export rice prices show signs of improvement
While domestic rice prices have decreased slightly, the Vietnam Food Association (VFA) said that Vietnam's export rice prices have shown signs of improvement.
Currently, standard 5% rice is at 394 USD/ton (up 2 USD/ton); 25% broken rice is at 368 USD/ton (up 1 USD/ton); 100% broken rice is at 313 USD/ton (up 3 USD/ton). This is a positive signal when during the first months of the year, export rice prices have continuously decreased sharply. The reason for this situation is that the world rice supply has increased, the import demand of many traditional markets has decreased and there are no signs of recovery in the short term. In addition, India has lifted the ban on rice exports and returned to the export market with abundant output.
However, many experts believe that Vietnam's export rice prices may soon stabilize and recover. Leaders of some exporting enterprises said that 80% of Vietnam's rice exports are in the high-quality segment, so the impact from India's supply (mainly low-quality rice) is only temporary.
According to data from VFA, in the first two months of the year, high-quality rice accounted for 80%, helping Vietnam maintain a competitive advantage with India and Thailand.
The Association also believes that the important issue at present is supporting businesses in terms of capital. The fact that many businesses offer low prices is mainly due to limited and short loan terms, forcing them to sell quickly to turn around capital without being able to reserve goods. Minister of Agriculture and Rural Development Do Duc Duy said that rice export activities are likely to improve and return to normal after about three months, in the middle or end of the second quarter, when import demand from other countries increases. According to the US Department of Agriculture, rice indicators this year still tend to increase in terms of production, consumption demand and inventory.
