Rice prices continue to increase
Information from the Vietnam Food Association (VFA), currently the price of Vietnamese rice is increasing much higher than the rice price of Thailand and Pakistan.
As of August 19, Vietnam's 5% broken rice price is currently at 575 USD/ton, up from 565 USD/ton last week. The price of 25% broken rice also increased to 539 USD/ton, 100% broken rice at 440 USD/ton. Meanwhile, the price of 5% broken rice in Thailand is 561 USD/ton, 25% broken rice is at 512 USD/ton, and 100% broken rice is at 439 USD/ton. 5% broken rice in Pakistan is at 542 USD/ton, 25% broken rice is at 517 USD/ton, 100% broken rice is at 431 USD/ton.
Compared to the world's top rice exporting countries , Vietnamese rice exports are the most expensive. Vietnamese traders said low domestic supply coupled with increased deliveries to key markets such as Indonesia and Africa had boosted prices. This is an impressive return of Vietnamese rice because a month ago, our country's export rice price was much lower than the price of Thai and Pakistani rice.
According to VFA, Vietnam's average rice export price is at a very high level. At one time, Vietnam's rice export price to Brunei reached 959 USD/ton, to the US reached 868 USD/ton, the Netherlands reached 857 USD/ton, Ukraine reached 847 USD/ton, Iraq reached 836 USD/ton, Turkey reached 831 USD. /ton... In the domestic market, rice prices have also recovered in recent weeks, helping farmers have a decent income.
According to records, in the Mekong Delta region in recent sessions, in general, warehouses have bought quite well, with little supply, and high anchor prices. At An Cu (Soc Trang), the quantity arrived is small, transactions are stable, warehouse purchases are slow, prices are level. At Lap Vo (Dong Thap), warehouses bought well, prices leveled off and remained high. In Kien Giang, the anchor price is high, mainly buying rice near the cutting date.
Rice export opportunity sets a record
Talking to Lao Dong reporter, a media representative of a rice export enterprise said that there are a number of reasons why the price of our country's rice exports has increased again. In particular, the reduction of rice import taxes in some traditional markets helps businesses in these countries boldly increase imports compared to before.
"The end of the year is the time when countries increase rice imports. This year, Vietnam's two largest rice consuming markets, the Philippines and Indonesia, both announced an increase in the amount of imported rice. Meanwhile, in our country, the Summer-Autumn crop is about to begin. finished and preparing for the Fall-Winter crop. Both of these seasons are not the main production seasons of the year, so the output is not large, pushing up rice prices" - this person said.
Mr. Nguyen Ngoc Nam - Chairman of the Vietnam Food Association assessed that import demand from traditional customers of Vietnamese rice such as the Philippines, Indonesia, Ghana, Malaysia, Singapore... continues to remain high. Along with that, rice export businesses are also actively expanding to new markets such as the Middle East, Africa, South America, Japan, Korea... With the increase in imports from partners, Mr. Nam said that Vietnam's rice exports this year could reach about 8 million tons, earning more than 5 billion USD - a new record for the industry.
Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that from the beginning of the year until now, rice is the 5th commodity in terms of export turnover in the agricultural sector (after wood and wood products, seafood, vegetables, fruits, and coffee); At the same time, it is also one of the products recording a high growth rate.
To promote rice exports in the last months of the year, the Ministry of Agriculture and Rural Development will continue to coordinate with the Ministry of Industry and Trade, provinces and cities to organize conferences to evaluate the situation of domestic rice production and rice export. At the same time, speed up the implementation of the project of 1 million hectares of high quality rice, focusing on removing obstacles for export businesses.
According to statistics, in the first 7 months of 2024, Vietnam exported 5.18 million tons of rice with a turnover of 3.27 billion USD, an increase of 25.1% in volume and 5.8% in value over the same period. last year.
