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Rice prices increase, rice exports resume growth

02/11/2021

According to Vietnam Food Association (VFA), in the last week of October, the average price of ordinary rice in the field was at VND 5,380/kg, increased by VND 38 compared to the previous week; ordinary rice at the warehouse has an average price of VND 6,500/kg (increased by VND 63), etc.

Rice prices in the Mekong Delta continued to increase after localities eased social distancing, goods circulation facilitated and positive rice export situation resumed.

In general, the price of many types of rice is still at a lower level compared to the same period last year, however, the price of many types of rice, especially specialty rice, is expected to increase in the coming time. Currently, many localities have finished harvesting the Autumn-Winter crop, such as in Can Tho, which has completely harvested 69,995ha of Autumn-Winter rice in 2021, with an estimated yield of 55.3 quintals/ha, 1.49 quintal/ha higher than that of same period.

Regarding rice exports, according to VFA, in the first half of October 2021, Vietnam's rice exports reached over 294 thousand tons with a value of over USD 154 million, an increase of 61.6% in volume and an increase of 57.7 % in value over the same period last year.

Earlier, in September 2021, Vietnam's rice exports reached more than 593 thousand tons with a value of more than USD 293 million, an increase of 19% in volume and 20.5% in value over the same period last year.

As of the end of the first half of October 2021, Vietnam's rice exports reached more than 4.86 million tons, worth USD 2.57 billion, decreased by 5.8% in volume and 1.08% in value over the same period last year.

According to rice businesses in the Mekong Delta, the implementation of social distancing for the prevention and control of the COVID-19 pandemic in the previous three months in the southern provinces has caused the rice export of most enterprises to stall. When travel is eased, businesses have focused on delivering previously stuck orders.

Besides, after a period of supply chain disruption due to the COVID-19 epidemic, the world market has also returned to order more, helping Vietnam's rice exports to resume growth. On the other hand, the quality of Vietnamese rice has recently improved to a great extent, the number of trusted customers has also increased.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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