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 recorded a price decrease due to the slowing purchasing activities of export enterprises. The Asian region also tended to be quiet due to weak exports.

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

Last week, 5% broken fragrant rice prices were at $420-$435 a tonne, unchanged from the previous week and near a two-month low. A trader in Ho Chi Minh City said domestic trading was quiet as many exporters reduced purchases of paddy from farmers due to weak overseas demand.

In the Asian rice market, India’s rice exports edged up from a more than nine-year low, helped by a stronger rupee despite weak demand, while Thai rice prices fell for a sixth straight week to an 18-year low on sluggish buying.

A trader in Kolkata (India) said that very few export contracts were signed last week because buyers were in no hurry to place orders, waiting for prices to fall further.

India’s 5% broken parboiled rice prices were quoted at $344-$350 a tonne, up from $340-$345 a tonne last week. India’s 5% broken white rice prices were quoted at $360-$370 a tonne, slightly above last week’s lowest since May 2016.

In Thailand, 5% broken rice prices stood at $337 a tonne, unchanged from last week’s $335-$340 a tonne – the lowest since October 2007. A Bangkok-based trader said demand remained weak, with no major deals this week, while ample supplies kept prices low.

Meanwhile, Bangladesh is increasing rice imports to cool domestic prices. The country has signed a contract to buy 50,000 tons of white rice from Myanmar at $376.50 per ton under a government-to-government agreement, and 50,000 tons of parboiled rice through international bidding at $355.99 per ton.

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