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Prices of paddy and rice in the Mekong Delta provinces increased in the first half of July

12/08/2020

Experts said that Vietnam's rice export and commodity rice market in the Mekong Delta in the second half of this year will have movements; in the immediate future is the price of summer-autumn crop rice.

The report of the Agro Processing and Market Development Authority (Ministry of Agriculture and Rural Development) showed that the prices of paddy and rice in the Mekong Delta provinces increased in the first half of July. Paddy prices increased at the beginning of the month as farmers were about to harvest the Summer-Autumn rice crop; at that time, there was not much supply from the Winter-Spring crop. At the same time, paddy and rice export prices have recovered well.

Specifically, in An Giang, price of IR50404 paddy rice increased by VND 200/kg to VND 5,000/kg, currently at VND 4,900/kg (as of July 22); price of OM 5451 paddy rice increased by VND 300/kg to VND 5,200/kg; price of OM 6976 paddy rice stood at VND 5,400/kg; price of regular rice stable at VND 11,000/kg; price of Jasmine specialty fragrant rice stood at VND 14,500/kg.

In Kien Giang, price of IR50404 paddy rice increased by VND 300/kg to VND 5,700-5,900/kg; price of OM 6976 paddy increased by VND 100/kg to VND 6,400 - 6,600/kg; price of OM 5451 paddy rice increased by VND 300/kg to VND 6,300 - 6,700/kg.

In the export market, the price of Thai rice exported in July fluctuated in the range of USD 440 - 515/ton.

Vietnamese rice export prices in the past month decreased slightly compared to the previous month due to decreased demand as well as supply from the Summer-Autumn harvest season which is gradually coming to the market around the second half of July 2020.

The price of Vietnamese rice exported in the month fluctuated between USD 415-457 per ton. Meanwhile, the price of Indian rice for export tended to increase slightly, but traders in this country said that the market demand for Indian rice was only at average. The price of Indian rice exported in the month fluctuated between USD 373-382 per ton.

According to experts, there will be some movements in Vietnam's rice export and commodity rice markets in the Mekong Delta in the second half of this year, in the immediate future is the price of summer-autumn rice.

In addition, according to the latest updated forecast information in July 2020 of the U.S. Department of Agriculture, the world's rice production in 2020 is estimated at 495.2 million tons, a decrease of about 0.3% compared to 2019. World rice consumption in 2020 is estimated at 490.4 million tons, an increase of about 1.3% compared to 2019.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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