The prices of rice products in the Mekong Delta region decreased slightly over the past week, with the highest price of 5% broken rice reaching 10,400 VND/kg and the average price at 10,271 VND/kg.
According to data from the Vietnam Food Association, rice prices in the Mekong Delta region decreased slightly over the past week. Specifically, the highest price of 5% broken rice was 10,400 VND/kg, with an average price of 10,271 VND/kg, a decrease of 61 VND/kg.
Data from the Institute of Policy and Strategy for Agricultural and Rural Development showed that in Can Tho, the prices of Jasmine, OM 4218, and IR 50404 rice remained unchanged from the previous week at 7,200 VND/kg, 6,400 VND/kg, and 6,200 VND/kg, respectively.
In Dong Thap, farmers are currently engaged in the winter rice harvest.
Recently, the Agri Index Joint Stock Company held a ceremony to launch the first digital agricultural rice and rice product trading floor in Vietnam. When fully operational, the trading floor is expected to serve as a "bridge" for 300 trading enterprises with an estimated 50,000 tons of rice on offer per month and a 50% success rate in transactions.
In terms of exports, Vietnam's 5% broken rice was quoted at prices ranging from 448-453 USD per ton, unchanged from the previous week when rice prices reached their highest level since July 2021.
Preliminary transportation data showed that around 167,650 tons of rice will be loaded at the port of Ho Chi Minh City between December 1-28, with most of it going to the Philippines and Indonesia.
In the meantime, Thailand's rice export prices reached their highest level since June 2022 due to increased transportation activity and a strong baht. Thailand's 5% broken rice was traded at prices ranging from 452-460 USD per ton, up from 425-457 USD per ton the previous week."
The price of 5% broken rice from India's leading exporter increased slightly from 374-380 USD/tonne, compared to the previous week's price of 373-378 USD/tonne, due to a slight improvement in demand, despite the new season's limited upward pressure on prices.
Officials have said that Bangladesh is negotiating with India to purchase a total of 200,000 tons of rice in government-to-government agreements, as the country seeks to build up its rice stockpiles to curb domestic price increases.
The US agricultural market showed that, during the 23/12 trading session, the prices of futures agricultural products on the Chicago, US (CBOT) exchange increased, with rice leading the way amid a falling US dollar index to a new 6-month low. Trading activity on the market was relatively sluggish due to a series of end-of-year holidays, from Christmas to New Year's Day and then the Lunar New Year starting on 22/1.
In the global coffee market, the price of Robusta coffee on the ICE Europe - London exchange remained on an upward trend at the end of the week.
The price of Robusta coffee delivered in January 2023 increased by 2 USD to 1,959 USD/ton. Trading volume is very low below average.
While the price of Arabica coffee on the ICE US floor - New York reversed to increase.
The price of Arabica coffee delivered in March 2023 increased by 3.10 US cents to 172.00 US cents/lb and the price of Arabica coffee delivered in May 2023 increased by 2.85 US cents, to 171.60 US cents/lb (1lb). = 0.45kg). Trading volume is very low below average.
The price of green coffee beans in the Central Highlands provinces decreased by 100 dong, to the range of 40,900-41,500 dong/kg.
Due to the extended Christmas holiday and early closure of the London market, trading volume on both exchanges was very low during the recent sessions.
Read more: AGRICULTURAL PRODUCTS INDUSTRY REPORT
AGRICULTURAL PRODUCTS INDUSTRY REPORT - NOVEMBER 2022