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Weekly Report Vietnam Rice Market (07/11-11/11/2016) – Prices of raw rice in Sa Dec inch up as some owners of warehouses supplying rice for domestic consumption resume procurement of rice

- Reference export prices of 5% brokens based on the prices of milled rice have been stable at US$ 350/ton (FOB, bulk). Offers for 5% brokens of Vietnam exporting enterprises have been US$ 340-350/ton (FOB, bulk). Transactions of rice for exports have been said to remain bearish and many exporting enterprises have ceased making offers.

- The domestic market has been bearish on official export channel, unofficial export channel and domestic rice channel. Many enterprises have ceased procurement of rice; and prices of raw rice have tended to fall again. On unofficial rice export channel, a few traders who ship rice to the North in Mekong River Delta have made transactions; the procurement demand has been low and traders who ship rice to the North have offered rice at VND 7,150-7,200/kg, at warehouses but many warehouse owners have not accepted to sell rice at the prices. On official rice export channel, according to enterprises, foreign traders’ bid prices have been lower than the current production costs and they have accepted to procure rice at just US$ 340/ton (FOB). On domestic rice channel, at Ba Dac market and in Sa Dec, transactions have been bearish and the procurement demand for rice of agents from provinces has been low.

- In Sa Dec, prices of IR 50404 raw rice this week have tended to fall; the procurement demand of warehouse owners has been weak; and some warehouse owners have ceased procurement of rice. Autumn-winter rice transported from An Giang has poor quality. Prices of IR 50404/OM 5451 raw rice at the end of this week have been VND 6,450-6,550/ 7,300-7,400/kg, at warehouses.

- In Kien Giang, prices of raw rice and milled rice have been stable. Prices of IR 50404/long-grain white milled rice have been VND 7,100-7,150/8,000-8,100/kg, at warehouses. Prices of fragrant rice have been stable. Prices of Jasmine/Nang Hoa/KDM rice have been VND 9,900/10,000/11,600/kg, (FAS).

- At Ba Dac market, transactions have been bearish; and prices of milled rice for domestic consumption have been stable. Prices of autumn-winter/winter-spring IR 50404 milled rice have been VND 7,600/8,500/kg, at warehouses. Prices of good-grade OM 5451 milled rice have been VND 8,700/kg, at warehouses. Prices of OM 6976 milled rice have been VND 8,300-8,400/kg, at warehouses and prices of good-grade OM 6976 milled rice have been VND 8,600/kg, at warehouses. Prices of OM 4900/RVT milled rice have been VND 10,200-10,300/11,800/kg, at warehouses. Prices of good-grade RVT have been VND 12,000/kg, at warehouses. Prices of An Giang glutinous milled rice have been VND 11,500/kg, at warehouses.

- Prices of paddies have been stable. Prices of IR 50404 paddies have been VND 4,500-4,600/kg (on field) and prices of OM 5451 paddies have been VND 4,800/kg.