In this week, rice price regional varieties Mekong Delta there was an increase/decrease in some localities.
Price rice export flat and forecast to remain higher as global economic and political concerns push countries to increase food stocks.
Data from the Institute of Policy and Strategy for Agriculture and Rural Development shows that rice prices in Soc Trang have slightly decreased in some varieties such as ST down 200 VND/kg to 8,300 VND/kg; OM 4900 also decreased similarly to 6,700 VND/kg; other types remained stable such as Dai Thong 8 at 7,900 VND/kg; OM 5451 is 7,700 VND/kg.
Rice prices in Tien Giang also decreased slightly in some varieties such as Jasmine down 100 VND/kg to 7,200 VND/kg; OC10 rice also decreased similarly to 6,700 VND/kg; IR 50404 alone is 6,500 VND/kg, down 200 VND/kg.
In Can Tho, rice prices are still flat like Jasmine is 7,600 VND/kg, OM 4218 is 6,600 VND/kg; IR 50404 at 6,200 VND/kg.
In Kien Giang, rice prices remained stable as IR 50404 was 6,500 VND/kg; OM 5451 is 6,700 VND/kg; Jasmine is 7,000 VND/kg.
In An Giang, last week many types of rice had a good increase in price. According to the Department of Agriculture and Rural Development of An Giang province, OM 18 rice is being purchased by traders in the field at a price of 6,400-6,500 VND/kg; OM 5451 from 6,400-6,500 VND/kg, up 100 VND/kg; Miss Hoa 9 from 6,400-6,600 VND/kg; an increase of 300 VND/kg; IR 50404 from 6,200-6,300 VND/kg, increased by 100 VND/kg; Radio aromatic 8 also increased by 200 VND/kg, reaching from 6,600-6,800 VND/kg.
[Thị trường nông sản tuần qua: Giá lúa tăng nhẹ ở một số loại]
With sticky rice still maintaining a stable price, in An Giang the price is from 6,100-6,300 VND/kg; Long An sticky rice from 6,600-6,800 VND/kg.
Up to now, Kien Giang province has built 717 large fields, with a total area of more than 82,585 hectares. This locality has harvested more than 167,000 hectares, reaching nearly 60% of the area, with an average yield of 7.3 tons/ha.
Kien Giang has 27,187ha of sustainable rice production (SRP), organic, GlobalGAP, VietGAP, residue control, is in the process of converting organic production for export to European markets (EU) ), USA, Japan… Popular rice varieties grown in large fields such as DS1, Jasmine, ST 24, ST 25, RVT, Dai Thom 8, OM 5451, OM18…
Up to now, in the province’s 12 districts and cities, 113 rice growing area codes have been granted, with more than 5,695 hectares for rice growing areas for export to the EU, China, Malaysia, Singapore, Canada…
Hau Giang has also gradually shifted the structure of rice varieties from low quality group (IR 50404, OM 576…) to high quality rice varieties (OM 5451, OM 18, Jasmine, RVT, Dai Thom 8, ST24…). Currently, high-quality seeds are over 95% of the province’s total rice cultivation area, in line with market demand.
Regarding exports, the price of Vietnam’s 5% broken rice was offered at $460/ton on April 6, unchanged from a week ago.
Mr. Nguyen Ngoc Nam, Chairman of the Vietnam Food Association (VFA) said that rice prices will remain high in the near future, mainly due to the global economic and political instability that drives countries to increase their prices. food reserves.
Harvest winter-spring rice. (Photo: Hoang Nhi/VNA)Traders said Vietnam’s rice exports are estimated at 6.5-6.7 million tonnes this year, down from 7.1 million tonnes last year.
Meanwhile, the price of Indian rice exports increased in the past week due to improved demand and a stronger rupee. Accordingly, the price of 5% broken parboiled rice of India’s leading exporter is quoted at $383-389/ton this week, up from $380-385/ton last week.
An exporter based in Kakinada, Andhra Pradesh state said the prices of Indian agricultural commodities have recovered in the past few days. It is this momentum and improved demand that has helped the price of Indian rice higher.
Besides, the price of Thai 5% broken rice is listed at $480-482/ton, up from $475-482/ton last week.
A trader in Bangkok said domestic prices were high as Thailand neared the end of the harvest season and supplies fell.
Regarding the US agricultural market, the prices of agricultural products on the Chicago Mercantile Exchange (CBOT) simultaneously fell on a large scale in the last session on April 6, led by corn.
US markets were closed for the Good Friday holiday on April 7. Accordingly, the price of corn for delivery next May fell 9.25 cents (1.42%) to $6,435 per bushel. Wheat for May delivery fell 6.5 cents (0.95%) to $6,755 per bushel. Soybean futures fell 18.5 cents (1.22%) to $14,925 per bushel (1 bushel of wheat/soybean = 27.2 kg; 1 bushel of corn = 25.4 kg).
Harvesting wheat in the field. (Photo: AFP/VNA)With the sowing season approaching, agricultural market research firm AgResource does not expect corn for December delivery this year to slip below $5.50 per bushel and November soybeans below $13.00. /bushel. AgResource said that was not the time when the above agricultural products turned to a downtrend.
The US Department of Agriculture reported that in the week ending March 30, the country sold 7.1 million bushels of wheat, 49.1 million bushels of corn and 5.7 million bushels of soybeans. So far, the United States has sold 667 million bushels of wheat (down 5% year-on-year), 1.465 million bushels of corn (down 32%) and 1.834 million bushels of soybeans so far in the year to date for each crop year. down 11%).
The world coffee market showed that at the end of the last trading session of the week, the price of Robusta coffee on the ICE Europe-London floor reversed to decrease. The May spot contract fell by $15 to $2,299 a tonne. The contract for July delivery also decreased by 18 USD to 2,256 USD/ton.
On the contrary, the price of Arabica coffee on the ICE US-New York floor continued to increase. The May spot contract this year added 3.45 cents to 183.60 cents/lb and the July contract this year added 2.70 cents to 181.70 cents/lb. (1 lb = 0.4535kg).
The International Coffee Organization’s (ICO) March Trade Report says that in coffee year 2022/2023, it is estimated that global coffee consumption will be around 178.50 million bags, while the estimated global coffee supply is only around 178.50 million bags. about 171.30 million bags. As a result, the global coffee market will have a deficit of 7.27 million bags.
But the shortfall will be offset by the increased production of the producing countries in the new harvest. In particular, the world’s largest coffee producer Brazil will have a good harvest every two years.
The market also awaits Brazil’s March coffee export report, when some early estimates suggest that the country’s exports have fallen by as much as 20% year-on-year.
In addition, the market is worried that inflation in Europe and high interest rates in the US will affect consumers’ budgets, making coffee consumption weaker.
Bich Hong-H.Thuy (VNA/Vietnam+)