Vietnamese rice prices continue to increase, 100 USD/ton higher than Thai rice

The export price of Vietnamese rice continues to increase, higher than that of Thai rice, some types cost more than 100 USD/ton - Photo: BUU DAU

According to information from the Vietnam Food Association, after about 10 days of stable prices, yesterday (October 31), Vietnam's export rice prices increased by 5-10 USD/ton depending on the type.

Specifically, the export price of 5% broken rice from Vietnam increased by 10 USD/ton, to 653 USD/ton, higher than the same type of rice from Thailand at 92 USD/ton, Pakistan at 90 USD/ton and Myanmar at 65 USD/ton.

25% broken rice was also adjusted up by 10 USD/ton, to 638 USD/ton, while the price of the same type of rice from Thailand was only traded at 521 USD/ton, and Pakistan at 488 USD/ton.

Jasmine rice also increased by 5 USD/ton, to 728 USD/ton.

This is the highest price of Vietnamese rice since India banned rice exports at the end of July and the highest export price in more than 15 years.

Export rice prices have increased and remained high, so domestic rice purchasing prices have also increased continuously over the past two weeks.

During the week of October 19 to 26, the price of regular rice at the field continued to increase by 186 - 307 VND/kg compared to the previous week.

Specifically, the highest price of regular rice in the field is 8,650 VND/kg, the average price is 8,507 VND/kg.

The highest price of rice at the warehouse is 10,200 VND/kg, the average price is 9,725 VND/kg.

The highest purchase prices for 5% and 25% broken rice were VND15,500 and VND15,000/kg, respectively, with average prices of VND15,350 and VND14,725/kg, respectively.

According to preliminary data from the General Department of Customs, Vietnam's rice exports in October 2023 reached 700,000 tons, equivalent to 433 million USD, equivalent in volume but up 27% in value over the same period in 2022.

In the first 10 months of 2023, Vietnam exported more than 7.1 million tons of rice, equivalent to nearly 4 billion USD, up 17% in volume and 35% in value over the same period in 2022.

Thus, in the first 10 months of 2023, rice export turnover reached the highest level compared to the same period in many years.

Statistics for the first 9 months of 2023 show that Indonesia is Vietnam's largest rice import market with 166,000 tons, followed by the Philippines, Ghana, and China.

According to calculations by the Ministry of Agriculture and Rural Development , in 2023 Vietnam can export about 7.8 million tons of rice, with a turnover of about 4.2-4.5 billion USD.

No worries about domestic rice shortage

In response to the increase in domestic and export rice prices, speaking to Tuoi Tre Online on November 1, Mr. Nguyen Nhu Cuong - Director of the Department of Crop Production (Ministry of Agriculture and Rural Development) - said that by the end of October, the autumn-winter crop had harvested 0.28 million hectares (equivalent to 1.62 million tons of rice).

There are about 0.4 million hectares (expected output of nearly 2.2 million tons) left for harvest from now until December.

With the winter-spring rice crop, the whole country has harvested about 1 million hectares, equivalent to 5.71 million tons.

Therefore, Vietnam does not worry about rice shortage for the domestic market as well as ensuring export targets.

For the 2023-2024 winter-spring crop, Mr. Cuong said that the whole country is expected to plant nearly 3 million hectares, a decrease of 10,000 hectares compared to the previous crop.

However, output is expected to increase compared to the same period in 2022, reaching over 20 million tons as growers increasingly have advanced care techniques and choose varieties with good yields suitable for the climate.

The Department of Crop Production is also closely directing facilities to proactively plant seeds early and flexibly for areas affected by annual saltwater intrusion in coastal provinces. At the same time, plans are being developed to prevent local drought in some areas in the freshwater alluvial region.

According to TTO

Source: https://tuoitre.vn/gia-gao-viet-nam-tiep-tuc-tang-cao-hon-gao-thai-lan-100-usd-tan-20231101132152989.htm

Source