VINAGRI News - Rice prices in Vietnam eased slightly today, following a broader downward trend across major Asian export markets. Meanwhile, the Philippines, Vietnam’s top rice buyer, affirmed that its national reserves remain sufficient for 12 days of consumption, despite recent typhoons.
Domestic market: Prices slip 50 - 100 VND/kg
In the Mekong Delta, Vietnam’s key rice-growing region, paddy and raw rice prices dropped by 50 - 100 VND/kg compared to yesterday.
OM 380 paddy: down 50 VND/kg, now trading at 7,950 - 8,050 VND/kg
OM 5451 paddy: down 100 VND/kg, at 8,400 - 8,500 VND/kg
Traders attributed the decline to subdued export activity and cautious market sentiment amid softening global prices.
Asian export prices weaken
According to data from the Vietnam Food Association (VFA), benchmark rice export prices across Asia fell slightly in the latest trading session.
Vietnam 5% broken white rice: USD 375 - 379/ton, down USD 1/ton
Vietnam Jasmine rice: USD 495 - 499/ton, down USD 1/ton
Vietnam fragrant 5% broken: stable at USD 440 - 465/ton
Elsewhere in Asia:
India 5% broken: USD 372 - 376/ton, down USD 3/ton
Thailand 5% broken: USD 348 - 352/ton, down USD 4/ton
Pakistan 5% broken: USD 354 - 358/ton, down USD 6/ton
The synchronized price declines reflect moderate global demand and stable regional supply conditions.
Philippine reserves remain stable despite typhoon damage
According to the Philippine National Food Authority (NFA), despite recent typhoons damaging some infrastructure and storage facilities, the country’s rice stockpile remains sufficient to feed the population for 12 days.
NFA Administrator Larry Del Rosario Lacson confirmed on Tuesday that the agency currently holds 446,000 tons of milled rice - equivalent to 8.9 million bags - ensuring supply stability.
“Our current reserves can sustain the entire population for nearly 12 days,” Lacson stated at a press briefing, as reported by BusinessMirror.
He added that only minor damages were reported, such as leaks and localized flooding, with no significant stock losses. Preliminary assessments indicate only a few hundred bags were affected, some of which can be dried and recovered.
“There’s no major issue - just small repairs needed. The storm did not affect our stockpile,” Lacson emphasized.
Market implications
The confirmation of sufficient reserves and the absence of major losses have not yet prompted changes in the Philippines’ import policy. Vietnamese exporters are closely monitoring potential policy shifts, as the Philippines remains a key driver of regional rice trade.
At the current exchange rate of 1 USD = 26,410 VND, export competitiveness remains steady despite softer prices.
Outlook
Market observers expect short-term downward pressure on prices to persist, given ample inventories and muted import demand. However, continued monitoring of Philippine procurement decisions and seasonal supply fluctuations in Southeast Asia will be critical in shaping Q4 trends.
NPK/ Vinagri News
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