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Vietnam's export rice price regains momentum

11/10/2021

The price of Vietnamese rice for export has increased by about USD 5/ton compared to last week, offered for sale on the world market at USD 433-437/ton.

According to the Vietnam Food Association (VFA), in the past week, Vietnam has exported 134 thousand tons of rice, increased by 9.84% compared to the previous week. Although the volume of rice exported in the past week was lower than that of India and Thailand, the export price of Vietnamese rice is at a very good level: 433-437 USD/ton (5% broken rice), increased by USD 6/ton compared to last week; USD 403–407/ton for broken rice.

Meanwhile, the price of 5% and 25% broken rice of Thailand sold at USD 383-387/ton and USD 373-377/ton, USD 20/ton lower than Vietnamese rice.

Citing Oryza.com, VFA said: In a press release on Mauritius's e-procurement website, the State Trade Corporation (STC) will conduct an international tender for the purchase of 6,000 tons of long-grain white rice from different origins, for delivery between January 1 and March 31, 2022. The deadline for submission of bids (online on the e-procurement website) is at 13:30 Mauritian time, October 26, 2021. Bids will be opened at 14:10 Mauritian time on October 28. 2021. This is also an opportunity for Vietnamese rice to be exported to this country.

Accumulated from the beginning of the year until now, Vietnam has exported nearly 4.4 million tons of rice. Although rice exports are facing difficulties due to many unfavorable factors, however, the rice industry is still one of the six advantageous sectors of Vietnam (timber, seafood, fruit, coffee, rubber, rice, pepper, etc.)

The increase in export rice prices has "warmed up" the domestic rice market. According to VFA, domestic rice prices also increased again. Specifically, NL IR 504 rice increased by VND 150, to VND 8,000-8,100/kg; TP IR 504 rice increased slightly by 50 dong, to VND 9,200/kg; bran increased sharply by VND 1,200 to VND 7,400-7,500/kg. Particularly broken rice 1 IR 504 is stable at VND 7,500/kg.

In many provinces of the Mekong Delta such as Long An, Can Tho, An Giang... the price of rice is quite stable, but in Bac Lieu, Tien Giang, Dong Thap... the price of rice has increased again.

In Tien Giang, fresh long grain rice increased by VND 200, to VND 5,650/kg; ordinary rice increased by VND 300, to VND 5,250/kg. In Dong Thap, long grain rice also increased by VND 200 to VND 5,450/kg. In Kien Giang, long grain rice increased sharply by VND 400 to VND 6,000/kg.

 

Kylie Nguyen

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