Rice export prices increase sharply again

SGGP 10/17/2023 10:20

According to information from the Ministry of Agriculture and Rural Development and the Vietnam Food Association, Vietnam's rice export prices have increased sharply again after Indonesia announced an increase in rice imports and Vietnam will be the main rice supplier for this market.

Specifically, the price of 5% broken rice in Vietnam increased from 610-620 USD/ton last week to 615-625 USD/ton; the price of 25% broken rice also exceeded 600 USD/ton, currently offered at 608 USD/ton.

Recently, the acting Minister of Agriculture of Indonesia confirmed to the Indonesian press that Vietnam and Thailand will be the two main rice suppliers for the country's upcoming purchase of 1.5 million tons of rice.

According to the Vietnam Trade Office in Indonesia, Vietnam's rice supply has always been a reputable source for the Indonesian Government and consumers, in the context of Indonesia facing a shortage of domestic food production due to El Nino. In the first 9 months of 2023, the total volume of rice exported from Vietnam to Indonesia was 884,177 tons, worth 462 million USD, up 17.7 times in volume and 19.2 times in price.

Source: https://www.sggp.org.vn/gia-gao-xuat-khau-tang-manh-tro-lai-post710112.html