Today: 19/03/2024 18:46:34 (GMT+7)
THE SPECIALIZED PAGE OF BAC GIANG NEWSPAPER ONLINE

Vietnam rice price on top of the world

Vietnamese 5% broken rice has been the most expensive in the world since August last year, surpassing rivals Thailand and India, according to the Ministry of Industry and Trade.

In the first two months this year Vietnam’s average rice price was over $519 per ton. Since August last year, it has exceeded Thai prices by $15-27 and prices from India by $40-50.

Vietnam rice price, top of the world, the most expensive, year on year increase,  Favorable export conditions, resumption in demand

Farmers harvest rice in Soc Trang Province.

Although Vietnamese export volumes dropped 20.9% year-on-year to $400,000 tons in January, prices rose 7% over the period.

Last year rice exports from Vietnam reached a 10-year high of 7.1 million tons.

The country plans to export 6.6 million tons of rice this year, with 4.12 million tons in total scheduled to be delivered by the end of the first six months.

Favorable export conditions are expected to return this year thanks to a resumption in demand from Indonesia and Bangladesh.

Buyers will increasingly turn to Vietnam for rice as India has banned the export of broken rice and put a 20% tax on white rice.

But the Ministry of Industry and Trade is concerned that the lack of diversification in export markets and dependence on China and the Philippines (the latter being the largest buyer of Vietnamese rice, accounting for 45% of exports) will be a challenge to the industry.

Low-priced rice from Pakistan may also present a challenge to holding market shares.

Input prices have been rising and logistics costs have remained high since the beginning of the Russia-Ukraine conflict.

The trade ministry is working with the E.U. to better introduce the import of Vietnam fragrant rice on the continent.

Export prices of Vietnamese rice world’s highest
The export prices of Vietnamese rice are standing at the highest levels in the world, according to the Vietnam Food Association .
 
Vietnam’s rice export to hit 7 million tonnes this year
Vietnam is working towards the target of exporting 7 million tonnes of rice this year, heard a forum held by the Ministry of Agriculture and Rural Development (MARD) on November 19.
 
Over 6 million tonnes of rice exported in 10 months
About 6.07 million tonnes of rice worth 2.94 billion USD was exported in the first 10 months of 2022, up 17.2% in volume and 7.4% in value year on year, according to the Ministry of Agriculture and Rural Development (MARD).
 
ST24, ST25 rice trademarks protected in Australia
Australian Intellectual Property (IP Australia) has officially issued trademark protection certificates to three brands of ST24 and ST24 rice produced by Ho Quang Tri Private Enterprise.
 
Brands help Vietnamese rice enter more global markets
Vietnamese rice has been served for the first time for lunch at the Japanese Cabinet Office, according to the Vietnam Trade Office in Japan.
 

Source: VnExpress

Vietnam rice price, top of the world, the most expensive, year on year increase, Favorable export conditions, resumption in demand
 
New comment has just been added. Click here
Sort:NewBest News