Vietnam's rice exports exceed 8 million tons

According to the update of the Department of Agriculture and Rural Development of An Giang, the prices of some types of rice purchased by traders are: IR 50404 from 7,600 - 7,800 VND/kg, an increase of 200 VND/kg; OM 5451 rice is priced from 7,600 - 7,800 VND/kg, an increase of 200 VND/kg; OM 380 is 7,000 VND/kg; Dai Thom 8 (fresh) from 8,600 - 8,800 VND/kg, an increase of 400 VND/kg and OM 18 (fresh) from 8,500 - 8,600 VND/kg.

Regarding rice products in the retail market in An Giang , regular rice costs from 16,000 - 17,000 VND/kg, an increase of 1,000 VND/kg; long-grain fragrant rice from 20,000 - 22,000 VND/kg; Jasmine rice from 17,000 - 18,000 VND/kg; common white rice 17,500 VND/kg, Nang Hoa rice 21,500 VND/kg.

Exported rice products at the factory of Thoai Son Food Company Limited (Loc Troi Group). (Photo: Vu Sinh/VNA)

IR 504 Summer-Autumn raw rice is at 10,400 - 10,500 VND/kg; IR 504 finished rice is stable at 12,400 - 12,550 VND/kg.

For by-products, the price of by-products of all kinds fluctuates between 6,000 - 9,400 VND/kg. Currently, the price of OM 5451 broken rice is stable at 9,300 - 9,400 VND/kg; the price of dry bran is at 6,000 - 6,100 VND/kg.

On the export side, Vietnam’s 5% broken rice was quoted at $522 a tonne this week, compared with $515-$520 last week, according to the Vietnam Food Association. A trader in An Giang province said trading activity was quiet.

Vietnam exported 293,484 tonnes of rice in the first half of November 2024, bringing the country's total rice exports this year as of November 15 to 8.05 million tonnes, worth $5.05 billion, customs data showed.

In Asian markets, Thai rice export prices climbed to a one-month high on overseas demand, while Indian rates remained steady near a 15-month low due to ample supplies.

A Bangkok-based trader said exports were keeping the market buoyant, with demand coming from regular buyers such as the Philippines, Indonesia and other Asian countries. Thai rice exports rose 20% in the January-October period from a year earlier.

Thailand’s benchmark 5% broken rice prices rose to a one-month high of $500 a tonne from $490-$495 last week. Another trader said the rise was also due to the exchange rate, and expected prices to become more competitive later in the year as prices from India eased.

Meanwhile, India's 5% broken parboiled variety was quoted at $440-$447 a tonne for the third consecutive week, its lowest since July 2023. A Mumbai -based exporter said buyers are delaying purchases as prices have fallen in the past few weeks. They are cautious, expecting supplies to increase in India.

India has scrapped export duty on parboiled rice and scrapped the $490/tonne floor price for non-basmati white rice to boost exports. Rice stocks in India hit an all-time high in November 2024.

Regarding the US agricultural market, wheat futures on the Chicago Board of Trade (CBOT) fell slightly in the trading session on November 22 due to profit-taking and the strengthening trend of the US dollar, while soybean prices rose after the previous session's decline. Corn prices also "followed" wheat down.

Wheat prices on the CBOT floor in the session on November 22 decreased by 4.75 US cents, down to 5.6475 USD/bushel, but still increased about 2% over the past week.

Wheat prices had surged on November 21 on concerns about supplies from the Black Sea region, but prices fell back as the dollar strengthened on November 22. A stronger dollar makes U.S. exports more expensive for buyers holding other currencies.

Soybean futures rose 5.75 cents to $9.835 a bushel on Friday and were up about 1.5% for the week. Corn futures fell 1.25 cents to $4.255 a bushel on Friday and were up about 0.4% for the week.

Soybean prices have made a technical recovery from the previous session's lows, said Austin Schroder, a commodities analyst at Brugler Marketing and Management.

However, according to analysts, soybean prices are still under pressure due to favorable weather conditions in South America (1 bushel of soybeans/wheat = 27.2 kg, 1 bushel of corn = 25.4 kg).

Regarding the world coffee market, at the end of the last trading session of last week, coffee prices increased sharply on both exchanges.

Robusta coffee prices for January 2025 delivery on the London Stock Exchange rose 4.14%, or $198 per tonne, to $4,985 per tonne. The March 2025 contract rose 4.04%, or $191 per tonne, to $4,923 per tonne.

On the New York Mercantile Exchange, the price of Arabica coffee in the contract for delivery in March 2025 increased by 2.16%, or 6.4 US cents/lb, to 302.1 cents/lb. The contract for delivery in May 2025 increased by 2.2%, or 6.45 cents/lb, to 299.6 cents/lb (1 lb = 0.4535 kg).

Coffee prices have extended their strong rally into a third consecutive week, supported by supply concerns in the world’s two largest coffee producing and exporting countries, Brazil and Vietnam.

In Brazil, the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA) recently lowered its forecast for Brazil's coffee production in the 2024-2025 crop year to 66.4 million bags, 3.5 million bags lower than the previous forecast of 69.9 million bags and only slightly higher than the 66.3 million bags in the 2023-2024 crop year. The reason for the decision to lower the production forecast is due to lack of rain and higher than normal temperatures.

In Vietnam, coffee prices on November 23 increased by VND2,000/kg in key provinces and cities, fluctuating between VND117,000 - 117,500/kg - the highest level in nearly two months.

(Source: Tin Tuc Newspaper)

Link: https://baotintuc.vn/thi-truong-tien-te/xuat-khau-gao-viet-nam-da-vuot-8-trieu-tan-20241124162901920.htm

Source: https://vtcnews.vn/xuat-khau-gao-viet-nam-vuot-8-trieu-tan-ar909339.html