Vietnam’s rice export prices show signs of recovery
According to the VFA's data, out of 1.1 million tonnes of rice exported in the first two months of the year, high-quality rice accounted for 80%, reinforcing Vietnam’s competitive edge against India and Thailand.
Rice stock for export of Duong Vu Company in Long An province. (Photo: VNA)
Hanoi (VNA) 🍒- Vietnam’s rice export prices are showing signs of recovery after a prolonged period of decline, according to the Vietnam Food Association (VFA).
The price of 5% broken rice has risen by 2 USD per tonne to 394 USD, while 25% broken rice increased by 1 USD per tonne to 368 USD. Meanwhile, 100% broken rice saw a 3 USD increase per tonne, reaching 313 USD. This marks a positive shift after export prices experienced a steep decline in the first months of the year.
The previous downturn was attributed to a rise in global rice supply, weakening demand from traditional import markets. Additionally, India’s decision to lift its rice export ban has reintroduced a significant supply to the global market.
Rice export prices increase slightly (Photo: vnbusiness)
However, experts believed Vietnam’s rice export prices could soon stabilise and recover. Industry leaders note that 80% of Vietnam’s rice exports fall into the high-quality segment, meaning the impact of India’s return, primarily focused on lower-grade rice, will be temporary.
According to the VFA's data, out of 1.1 million tonnes of rice exported in the first two months of the year, high-quality rice accounted for 80%, reinforcing Vietnam’s competitive edge against India and Thailand. The association also highlighted financial challenges for exporters, particularly short-term loan limits that force businesses to sell quickly instead of stockpiling.
Minister of Agriculture and Environment Do Duc Duy expected rice exports to improve and stabilise within three months, likely by mid-to-late Q2, as global demand picks up./.
MARD’s supply and demand report sent to the Ministry of Industry and Trade (MoIT) projects the Mekong Delta will cultivate 3.78 million hectares of rice, yielding more than 23.96 million tonnes. Of this, 15.08 million tonnes of commercial rice, equivalent to 7.54 million tonnes of husked rice, will be available for export.
By mid-January, Vietnam had exported 268,700 tonnes of rice, generating nearly 165.7 million USD, up 38.7% in volume and 23.28% in value year-on-year. To sustain exports, authorities are prioritising trade promotion, with the Ministry of Industry and Trade implementing measures to boost rice exports.
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