Rice export in 9 months earned nearly 3.54 billion USD

October 17, 2023 2:10 PM Van Hang Print article

ANTD.VN - Rice exports in the first nine months of the year increased in both volume and price. Specifically, the export price increased by 13.7%, averaging 551.5 USD/ton.

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Rice prices continue to rise, and rice exports are favorable.

In September 2023, rice exports to the Philippines, a key market, saw a sharp decline of 75.9% in volume and 74.3% in value, but increased by 6.6% in price compared to August 2023, reaching 98,677 tons, equivalent to $62.66 million, at a price of $635 per ton. This market remains Vietnam's leading rice consumer.

In the first nine months, the Philippines accounted for 38% of the country's total rice exports and 36.5% of its total rice exports, reaching over 2.44 million tons, equivalent to $1.29 billion.

The average price was $528/ton, a decrease of 1.1% in volume, but an increase of 12.8% in value and 14.1% in price compared to the first nine months of 2022.

Similarly, rice exports to the Chinese market in September 2023 continued to increase by 7.9% in volume, 13.2% in value, and 5% in price compared to August 2023, reaching 72,747 tons, equivalent to 43.7 million USD. Notably, compared to September 2022, the price of rice exported to China this year increased by 26.4%.

Overall, in the first nine months of 2023, the country's rice exports reached nearly 6.42 million tons, equivalent to nearly 3.54 billion USD, an increase of 19.5% in volume and 35.9% in value compared to the first nine months of 2022, with an average price of 551.5 USD/ton, an increase of 13.7%.

On the export market, after a few days of stagnation, rice prices have risen again due to increased demand from Asian and African markets. This is especially true following the recent announcement by the Indonesian government that it needs to purchase an additional 1.5 million tons of rice between now and the end of the year.

According to the Vietnam Food Association (VFA), rice prices today (October 17) are quite stable. Currently, the export price of 5% broken rice is at 623 USD/ton; the price of 25% broken rice is fluctuating steadily around 608 USD/ton.

At this price level, the price of Vietnamese exported rice is now widening the gap with Thai rice, being $42/ton higher for 5% broken rice and $75/ton higher for 25% broken rice.

Domestic rice prices have fluctuated sharply again, increasing by up to 400 VND/kg compared to before.

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