Rice prices today, January 8, 2025: The downward trend continues

Rice Prices Today (January 8): The downward trend continues, Market Quiet

Domestic rice prices today saw a slight decrease in some varieties.

According to the Department of Agriculture and Rural Development of An Giang province, the purchasing price of Dai Thom 8 and OM18 fresh rice decreased by an additional VND 200/kg compared to the previous day, reaching VND 7,800 – 8,000/kg. In addition, OM 5451 rice also decreased by VND 200/kg to VND 7,600 – 7,800/kg, while IR 50404 rice decreased by VND 100/kg, reaching only VND 7,200 – 7,300/kg. However, rice prices in An Giang market did not record any new changes. Currently, regular white rice is listed at VND 16,000 – 17,000/kg, and various types of fragrant rice are priced between VND 18,000 – 22,000/kg.

In the Mekong Delta, the price of IR 504 paddy remains stable at VND 7,500 – 7,600 per kilogram. Meanwhile, IR 504 finished rice has decreased by VND 200 – 300 per kilogram, reaching VND 9,800 – 10,100 per kilogram.

For by-products, the price of fragrant broken rice in local areas has decreased by VND 200 per kilogram compared to the previous day, trading at VND 7,200 – 7,400 per kilogram, while the price of dried bran remains stable at VND 5,950 – 6,050 per kilogram.

Vietnam’s Rice Export Prices Plunge

Vietnam’s rice export prices have continued to decline, according to the latest update from the Vietnam Food Association (VFA). Specifically, the price of 5% broken rice has dropped by US$6 per ton, reaching a new low of US$467 per ton since April 2023. Additionally, prices for 25% broken rice and 100% broken rice have decreased by US$1 and US$5 per ton, respectively, to US$437 and US$327 per ton.

Similarly, export prices in other producing countries in the region have also seen a decline. Pakistan’s 5% broken rice has dropped by US$1 per ton to US$449 per ton. In India, today’s price for 5% broken rice has decreased by US$4 per ton to US$447 per ton, while parboiled rice has also declined by US$4 per ton to US$439 per ton. Meanwhile, Thailand’s 5% broken rice is currently quoted at US$494 per ton, down US$4 per ton from the previous trading day. However, this remains the highest price in the Asian region, exceeding Vietnam’s similar product by US$27 per ton and Pakistan’s by US$45 per ton.

Pressure on farmers and businesses

According to Mr. Nguyen Van Thanh, Director of Phuoc Thanh IV Company, the decrease in rice prices is due to the lack of buying signals from major markets such as the Philippines, Indonesia, and China, leading to a shortage of buyers. This forces sellers to lower prices to stimulate demand, creating a vicious cycle that further drives down prices. Mr. Do Ha Nam, Vice Chairman of VFA, noted that global rice demand in 2025 is still high, especially in the Philippines, but there is a need for financial support policies for businesses to purchase and store rice. At the same time, it is necessary to improve quality and build brands to reduce dependence on a few markets.