Vietnamese rice price is again the world's top

ST25 rice price 1,200 USD/ton

In the Asian market, rice prices this week have returned to their previous order. Specifically, for the standard 5% broken rice, Vietnam’s price is the highest at 397 USD/ton, followed by Thailand at 395 USD/ton, Pakistan at 387 USD/ton and India at 376 USD/ton.

In the Mekong Delta provinces, many traders said that the price of 5% broken rice from Vietnam has exceeded 400 USD/ton since the beginning of April, but has recently decreased slightly due to exchange rate fluctuations. In fact, rice prices are on an upward trend, especially for high-quality fragrant rice. According to businesses, because the biggest rice harvest of the year has ended, the quantity of goods is low. On the contrary, traditional customers, especially the Philippines and African countries, are in high demand.

Mr. Nguyen Vinh Trong, Director of Viet Hung Company Limited (Tien Giang), informed: The price of ST25 rice is currently at 25,000 VND/kg, an increase of 6,000 VND/kg compared to last month. Therefore, the export price of rice is up to 1,200 USD/ton (FOB price at Ho Chi Minh City port). The reason is that the last winter-spring crop had a low output of ST25 rice, the domestic demand for this product is very high. In addition, fragrant rice products have also increased sharply compared to before, such as OM 5451 at 530 USD/ton, DT8 at 540 USD/ton...

Western farmers begin to tend to store rice waiting for price

PHOTO: CONG HAN

In particular, the demand for rice from Vietnam's major partners remains very high. According to the Ministry of Industry and Trade: For many years, the Philippines has imported rice mainly from Vietnam, with a market share of about 80 - 85%, from Thailand about 10%, the rest is imported from India, Pakistan, Bangladesh and other countries. The Philippine government has also recently made efforts to diversify the supply of rice and the types of imported rice. Notably, it signed a rice trade cooperation agreement with Cambodia, although this agreement will not bring much efficiency.

"In 2025, the Philippines' rice import demand will remain high, forecast at around 4.9 million tons, even over 5 million tons. Vietnamese rice will still be the Philippines' main import source. Whether we like it or not, in the coming time, the Philippines will still depend on Vietnam's rice supply," according to a report from the Vietnam Trade Office in the Philippines.

Similarly, in the market analysis report released in April, the US Department of Agriculture (USDA) informed: African countries will become the world's largest rice importers in 2025. Among these, many leading importers are traditional customers of Vietnam. Specifically, Ivory Coast is the second largest rice importer in Africa with 1.8 million tons. According to Vietnam Customs, in 2024, Ivory Coast imported up to 483,000 tons of rice, worth 286 million USD and was the 5th largest rice buyer of Vietnam. In the first quarter of this year, Ivory Coast with a market share of 16.3% rose to become the second largest rice buyer of Vietnam, after the Philippines with 42.1%.

Besides Ivory Coast, in 2024, Ghana is the 4th largest buyer of Vietnamese rice with an output of 613,000 tons, up 4.3% and a turnover of 424 million USD, up 17% over the same period last year. In the first quarter of 2025, Ghana with a market share of 10.2% temporarily ranked 3rd after Ivory Coast. It can be seen that these partners are all increasing their purchases of Vietnamese rice.

Aiming at high-end, sustainable market

Ms. Phan Mai Huong, co-founder of the international rice market website SS Rice News, said: Global demand for rice remains high from the low-end to high-end markets. Vietnamese rice is in the mid-high segment and is aiming for the higher segment with value and brand. In this segment, demand is very high, especially in Japan, the US and the EU. For example, the unprecedented rice price fever in Japan has lasted since the end of last year and shows no signs of cooling down. The government of this country has had to use its entire reserve for emergency situations.

However, at a recent conference in Can Tho, only one Vietnamese enterprise exported rice to this market with a modest quantity of 5,000 tons in 2024. The target in 2025 is to double that to 10,000 tons. In the US, Thailand exports about 850,000 tons of rice each year, of which 750,000 tons are fragrant rice, while Vietnamese rice only exports 20,000 - 30,000 tons. The same thing was recorded in the EU, where there is an import demand of about 2 million tons of rice each year. These figures show that the potential in the high-end segment is huge.

"If Vietnam wants to build a brand and increase the value of its rice, it needs to target these high-end markets. To enter these markets, it is necessary to continue improving production to ensure quality and safety," Ms. Huong noted.

The new Chairman of the Vietnam Food Association (VFA) Do Ha Nam analyzed: The important factor that caused the price of rice to increase so quickly is that our supply is not in surplus. Traditional customers always have high and stable demand for Vietnamese rice. The phenomenon of price reduction is due to some businesses competing to sell and reducing prices. This creates conditions for customers to rely on that to pressure other units and eventually create a sharp price reduction. So after the Prime Minister issued an official dispatch, the price of rice increased again immediately.

"For high-end markets, in the US our current output is only 30,000 tons and the Japanese market is much less. To export to these markets, it is important that we transform production towards sustainability and strictly control the issue of chemical residues," Mr. Nam emphasized./.

Thai specialty rice prices drop sharply

The Thai Rice Exporters Association (TREA) said prices of the country's specialty fragrant rice have all dropped. The deepest drop was $43 for Jasmine rice, down to $737 per ton. Meanwhile, Hom Mali rice for the 2024-2025 crop year dropped $19 to $988 per ton; Hom Mali rice for the 2023-2024 crop year dropped $22 to $1,180 per ton.

According to Thanh Nien

Source: https://thanhnien.vn/gia-gao-viet-lai-dung-dau-the-gioi-185250415224720455.htm

Source: https://baolongan.vn/gia-gao-viet-lai-dung-dau-the-gioi-a193566.html