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Vietnam’s rice trade and market (Week November 17th – November 23 rd)
27 | 11 | 2008
Cambodian rice flow into Vietnam has put more pressure on farmers in the Mekong River Delta to sell out rice at a very cheap price in order to save themselves. This has caused domestic rice price to reduce, further stablizing supply and demand. Moreover, after a drastic price cut of Thai rice in the world rice export market, Vietnamese rice price has kept falling due to the world’s decreased rice demands and influences of countries’credit tightening policy, including rice importers. Thus, thanks to such a cheap price, Vietnamese rice export will benefit in November and December 2008, increasing rice export value in these late months.
Afer a week-long difficulty for rice consumption in the Mekong River Delta, rice from the provinces of Long An, Can Tho is flowing into HCM City this week at a much lower price than the price in this market. Prices of AAA, and huong Lai are just 5,000-8,000 VND per kg, as nearly ½ as wholesale price at this city’s markets (12,000 VND per kg), causing outlets to face hard business. In addition, supplies of sticky and fragant rice from Cambodia, and Thailand which are in fashion in urban markets have continued to penetrate into Vietnam, increasing the rice supply number. Currently, wholesale price for special rice varieties is decreasing 1,000-2,000 VND per kg, down to 13,000-14,000 VND per kg; ordinary rice price drops 1,000 VND per kg, to 8,000-10,000 VND per kg.



Source : Agro-product market AGRODATA, Information Center for Agriculture and Rural Develoment, Institute of Policy and Strategy for Agriculture and Rural Develoment,
www.agro.gov.vn

This week, paddy prices in Mekong River Delta provinces keep falling. The average price in these provinces is 4,200 VND per kg, down 300 VND per kg compared to last week. Price for brown rice type I decreases by 500 VND per kg, to 5,500 VND per kg ; 5% milled rice price is down 400 VND per kg to 6,500 VND per kg (357.14 USD per ton).



Source : Agro-product market AGRODATA, Information Center for Agriculture and Rural Develoment, Institute of Policy and Strategy for Agriculture and Rural Develoment,
www.agro.gov.vn

According to a demand-supply estimate by the Ministry of Agriculture and Rural Development, nationally volume of stocked rice in practice was supposed to reach some 4 million tons by late September 2008, twofold higher than the volume in stock in 2007. This represents a bulk volume of stocked rice needing to be exported, about 2 million tons. It is putting a pressure on rice price reduction in the Mekong River Delta.

Vietnamese export rice price is falling off over the past week


Domestic and export rice prices are still low as domestic and export enterprises are still having difficulty signing export contracts as well as exploiting new markets. Vietnam’s 25% broken rice continues to decrease 50 USD per ton to 370 USD per ton this week against last week. 5% , 10%, and 15% broken rice all drop sharply by 90 USD per ton from 500 USD per ton, down to 410 USD per ton. This has been the lowest price since the rice fever in April and May. Thus, average export price by mid November is about 410 USD per tonne, down 35 percent compared to the average export price over the first ten months of this year.



Source : Agro-product market AGRODATA, Information Center for Agriculture and Rural Develoment, Institute of Policy and Strategy for Agriculture and Rural Develoment, www.agro.gov.vn

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