Vietnamese export rice price rises sharply again

Thursday, October 14, 2021  11:08

VOV.VN - Vietnam’s export rice prices have increased sharply once again to surpass those from regional peers such as Thailand, India, and Pakistan, according to the Vietnam Food Association (VFA).

The country’s 5% broken rice is currently on sale at between US$433 and US$437 per tonne, marking an increase of US$40 per tonne from the export price seen in the middle of August.

Furthermore, Thailand's 5% broken rice is currently at between US$384 and US$388 per tonne, a drop of US$21 per tonne compared to mid-August. Elsewhere, Indian rice remains at between US$368 and US$372 per tonne and Pakistani rice at between US$378 and US$382 per tonne, a rise of US$25 per tonne.

In the segment of 25% broken rice, Vietnamese rice export price also stands at far higher than that of its competitors, with the price hovering at US$403 per tonne on October 11, while Thai rice was traded at US$373 per ton, and both Indian and Pakistani rice were sold at US$338 per tonne.

According to a representative of a rice business based in the Mekong Delta region, this increase in the Vietnamese rice export price can largely attributed to the fact that the Government has increased its purchase of national reserves, coupled with the rising demanding in the global market since the beginning of September.

According to figures given by General Department of Vietnam Customs, Vietnamese rice exports in September reached over 593,600 tonnes of rice worth over US$293.1 million, an increase of 19% in volume and 20.5% in value.

The country also exported 4.57 million tonnes of rice worth over US$2.41 billion during the nine-month period, a drop of 8.3% in volume and 1.2% in value against the same period from last year.