Source: Vtv.vn
According to the Vietnam Food Association (VFA), 100% broken rice remained at $440 per ton; 25% broken rice rose to $547 per ton, up $3; and 5% broken standard rice rose to $579 per ton, up from $570 per ton a week earlier.
This increase not only reflects the demand for Vietnamese rice in the international market but also shows price adjustments in line with global market fluctuations, opening up bright prospects for more export orders in the next two months.
According to the Vietnam Food Association (VFA), domestic rice prices have recorded steady growth as businesses focus on increasing purchases to serve export orders, as well as actively expanding to new markets such as the Middle East, Africa, South America, Japan, Korea, etc.
With this growth momentum, it is forecasted that Vietnam’s rice exports this year could reach about 8 million tons, earning more than 5 billion USD, a new record for the farming industry.
With supporting factors from the international market, Vietnam’s rice export situation in the last months of 2024 is expected to have many bright spots. The Philippines’ tax reduction policy is expected to continue to promote rice exports, while supply instability from rival countries creates great opportunities for Vietnamese rice to penetrate deeper into the international market.
Rice exporting enterprises need to take advantage of this opportunity to not only increase export output but also improve quality, aiming to affirm the Vietnamese rice brand in the international market.
“The current high rice price not only reflects the great demand from import markets but is also the result of improving product quality and the strategy to increase the value of Vietnamese rice. With export contracts signed for the coming months, there is an opportunity to increase rice export volume to a higher level than the same period in previous years,” said Mr. Pham Van Thinh – Chairman of Thuan Minh Import-Export Joint Stock Company.
