Specifically, traders in An Giang, Hau Giang, and Can Tho City proposed to buy fresh OM18 and Dai Thom (long grain fragrant) rice at VND6,500-VND6,700 a kg while Nhat and Nang Hoa 9 rice in An Giang continued to be purchased at the highest price, from VND7,800 to VND9,200 per kg.
The price increase has come after the Government implemented measures to support businesses in purchasing rice for processing and export.
Vietnam's 5 percent broken rice export price reached nearly US$400 per ton yesterday, marking a third consecutive day of increases. Meanwhile, at traditional markets in Ho Chi Minh City, the retail prices of all types of rice increased slightly.
Currently, a kilogram of Nang Nhen rice - a traditional specialty variety of the Bay Nui mountains area of An Giang Province - is priced at VND28,000 while a kilogram of Thai long-grain fragrant rice is priced at VND20,000 to VND22,000. Other varieties of rice such as Huong Lai rice fetched VND22,000 a kg, fragrant jasmine rice VND18,000-VND20,000a kg, Nang Hoa rice VND22,000a kg and Taiwanese fragrant rice VND21,000a kg. Common white rice fetched VND17,000/kg.
The Vietnam Food Association (VFA) said that this is an encouraging development as the market approaches the peak season for winter-spring rice harvesting. Nevertheless, export orders from key markets like the Philippines, Indonesia, and Malaysia remain relatively subdued. Some of these nations have already procured significant quantities of rice in 2024, reducing the urgency to make early purchases while supplies are plentiful.
Additionally, others are opting to wait for the domestic rice harvest results, expected around April-May, to make more informed purchasing decisions.
