Rice exports reached more than 7 million tons

VTV.vn - According to the Vietnam Food Association, as of October 15, rice exports have reached more than 7 million tons.

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However, the domestic rice market has seen a price decrease due to slower purchasing activities by export businesses. The Asian region is also experiencing a slowdown due to weak exports.

Specifically, as of October 15th, rice exports reached 7.022 million tons with a value of 3.588 billion USD, a decrease of 4.4% in quantity and 21.94% in value compared to the same period in 2024.

Last week, the price of fragrant rice with 5% broken grains remained at $420–435 per ton, unchanged from the previous week and near its lowest level in two months. A trader in Ho Chi Minh City said that domestic trading activity was quite sluggish as many export businesses reduced their rice purchases from farmers due to weak foreign demand.

In the Asian rice market, Indian rice exports edged up from their lowest level in over nine years, thanks to a stronger rupee, although demand remained weak. Meanwhile, Thai rice prices continued to fall for the sixth consecutive week, reaching an 18-year low due to sluggish buying activity.

A trader in Kolkata, India, said that very few export contracts were signed last week because buyers were not in a hurry to place orders, waiting for prices to fall further.

Indian parboiled rice with 5% broken grains is being offered at $344–350 per ton, up from $340–345 per ton last week. Indian white rice with 5% broken grains is being offered at $360–370 per ton, slightly above the lowest level since May 2016 recorded last week.

In Thailand, the price of 5% broken rice stood at $337 per ton, little changed from last week's range of $335–340 per ton – the lowest level since October 2007. A Bangkok trader said demand remained very weak, with no major transactions this week, while abundant supply helped keep prices low.

Meanwhile, Bangladesh is increasing rice imports to cool down domestic prices. The country has signed a contract to purchase 50,000 tons of white rice from Myanmar at $376.5 per ton under a government agreement, along with 50,000 tons of parboiled rice through an international tender at $355.99 per ton.

Source: https://vtv.vn/xuat-khau-gao-dat-hon-7-trieu-tan-100251026092422052.htm