World demand increases, Vietnamese rice export prices are forecast to continue to rise

According to Economy and Consumption

According to the Vietnam Food Association, Vietnam white rice prices are being traded at 488 – 492 USD / ton for 5% broken rice, 463 – 467 USD / ton with 25% broken rice.

Compared with Thai white rice at 493-497 USD / ton with 5% broken rice, 465 – 469 USD / ton with 25% broken rice, Vietnam rice price has returned to the second position in the world.

Previously, on August 17, Vietnam white rice prices recorded transactions at 488-492 USD / ton with 5% rice, 463-467 USD / ton with 25% broken rice.

Compared with the price of white rice of the same type of major exporting countries in the top 5, India, Thailand, Pakistan and Myanmar, the price of Vietnamese white rice has risen to the highest in the world.

Specifically, on August 17th, Thailand’s 5% broken rice price was 481-485 USD / ton, 25% broken rice 458-462 USD / ton; India’s 5% broken rice is US $ 368-372 / ton, 25% broken rice US $ 348-352 / ton; Pakistan 5% broken rice is from $ 416-420 / ton, 25% broken rice is from $ 363-367 / ton; Myanmar 5% broken rice from 443-447 USD / ton.

In the Mekong Delta, farmers are happy when rice prices rise at the end of the summer-autumn rice harvest. According to the data of the Ministry of Agriculture and Rural Development, the Summer-Autumn crop in 2020, the Mekong Delta produces 1.54 million hectares of rice, with an output of about 9 million tons.

At this time, many provinces have finished harvesting, the remaining areas are concentrated in coastal areas such as Tra Vinh, Soc Trang, Ben Tre, Kien Giang …

In recent days, the price of rice in the Mekong Delta has increased and attracted. The price of rice increased by about 400 VND / kg compared to the beginning of the month and more than 800 VND / kg compared to the Winter-Spring rice crop. Government newspaper news.

Specifically, in Can Tho and Hau Giang, farmers sell fresh rice in the field at prices ranging from 5,500 VND-6,500 VND / kg (depending on the variety). Notably, many farmers and rice granaries capable of storing rice hit a great deal when storing Jasmine 85 fragrant rice, because this rice price has soared from 7,500 VND / kg to 8,200 VND / kg.

The reason for the increase of both rice and rice is that the EVFTA Agreement, which took effect from 1 August, has had a positive impact on the rice industry, because the COVID-19 epidemic is still complicated, and the demand for rice of The world is on the rise.

Talking to the writer, Mr. Pham Thai Binh, General Director of Trung An High-Tech Agriculture Company (Can Tho) said that Vietnam’s rice export price is tending to be better partly thanks to the positive effect. from the Vietnam – EU Free Trade Agreement (EVFTA).

“In the past, Vietnamese rice exported to the EU was usually the type that had not been rubbed, had no brand name and was subject to very high import tax. When EVFTA comes into effect, Vietnamese fragrant rice will enjoy 0% tax incentives with a quota of 80,000 tons / year.

This is really a boost to help Vietnamese rice create a competitive advantage in the EU. Once exported to the EU with its own brand, the name of Vietnamese rice will be world-famous.

Moreover, it must be affirmed that Vietnam has many types of fragrant rice recognized as the best in the world such as ST24, ST25 … capable of competing with fragrant rice from Thailand and India “, Mr. Pham Thai Analytical flask.

Some exporters also stated that the advantage of availability and fast delivery in the context of COVID-19 helps Vietnamese rice be prioritized by importers.

From now until the end of the year, Vietnam’s rice price is forecasted to increase further because some countries are reducing exports while world demand is increasing.

“Improved quality of Vietnamese rice, especially fragrant rice, has also helped push up Vietnam’s rice prices,” said a rice trader in Ho Chi Minh City.

According to statistics of the Ministry of Agriculture and Rural Development, in the first 7 months of 2020, Vietnam exported about 3.9 million tons of rice, with a turnover of 1.9 billion USD, down 1.4% in volume, but up nearly 11% in price. value compared to the same period last year. The average export rice price in the first 7 months of 2020 reached 487.6 USD / ton, up 13% over the same period in 2019.