Vietnam's rice export price drops sharply, hits 5-year low

Vietnam's rice export prices have fallen as much as $30 per ton, to their lowest level in nearly five years, due to weak demand, while the domestic market remains stable.

Vietnam’s rice export prices recorded a sharp drop on November 22, reaching their lowest level in nearly five years due to weakening demand from traditional markets. In contrast to this trend, the domestic rice market in the Mekong Delta region remained stable.

Rice export prices drop to unprecedented lows

According to the latest update, the export price of Vietnamese rice has fluctuated strongly in a downward direction. Specifically, 5% broken fragrant rice decreased by 15 USD/ton and Jasmine rice decreased by 30 USD/ton. Currently, the price of 5% broken rice of Vietnam is only traded at 350-355 USD/ton.

According to Reuters, this is the lowest price in nearly 5 years. The main reason is said to be due to weak demand and the trend of restructuring production to improve quality. Customs data shows that in the first half of November, the amount of rice exported was only 159,122 tons, down 46% compared to the same period last year, clearly reflecting the decline in demand.

Businesses said demand from major markets such as the Philippines and Indonesia is slowing as these countries increase their self-sufficiency in supply. Currently, customers from Africa are the main output for Vietnamese rice.

Stable domestic market

In contrast to the export market, rice prices in the Mekong Delta region have not fluctuated much. Transactions have been slow and prices have remained stable.

In An Giang , popular rice varieties such as OM 18, OM 5451, IR 50404 and Dai Thom 8 remained stable in price, ranging from 5,000 to nearly 6,000 VND/kg. A similar situation was also recorded in Dong Thap, Can Tho and Vinh Long.

Regarding rice, retail prices remain unchanged. Finished IR 504 rice remains at VND9,500–9,700/kg. Some raw rice varieties have seen slight adjustments, such as Dai Thom 8 rice, which has increased by about VND100/kg.

Rice price today November 22nd Exported rice fluctuates strongly

World market context

World rice prices also have differentiation:

• India: Rice prices edged up slightly on government buying, pushing 5% broken parboiled variety to a six-week high. Export demand, however, remained weak.
• Thailand: 5% broken rice price edged up to 340 USD/ton but the market was quite quiet.
• Bangladesh: The government has just approved the purchase of 50,000 tons of parboiled rice through bidding to stabilize domestic prices.

Overall, global rice supply is abundant, but uneven demand distribution is creating competitive pressure and unpredictable price fluctuations in major export markets.

Source: https://baolamdong.vn/gia-gao-xuat-khau-viet-nam-giam-manh-cham-day-5-nam-404417.html