Source: thanhnien.vn
On October 18, an update from the Vietnam Food Association (VFA) said, rice price Vietnam’s 5% and 25% panels both increased by 10 USD to 633 and 618 USD/ton, respectively. Meanwhile, Thailand’s 5% broken rice only increased by 1 USD to 582 USD/ton, while 25% broken rice decreased by 1 USD to 532 USD/ton.
Thus, the price Vietnamese rice is at the highest level in the world, 51 USD/ton higher than Thai rice of the same quality.
With the same increase of 10 USD as Vietnam, Pakistan’s 5% broken rice only reached 573 USD/ton and 25% broken rice was 493 USD/ton.
The world rice market is vibrant again because at the end of the year, the main consuming countries increase imports to ensure food security for 2023 and prepare for the dry season in 2024. El phenomenon Nino is forecast to last until the first quarter of 2024, causing drought in many places and greatly affecting the food security of many countries. One of the notable information is that Indonesia will import 1.5 million tons of rice in the remaining months of 2023 and is likely to continue to maintain imports of up to 2 million tons in 2024.
Meanwhile, the world’s largest rice exporter, India, has not yet made any official decision after the 20% export tax order on parboiled rice expired on October 15; Besides, the floor price of 1,200 USD/ton for Basmati rice has not yet been adjusted. Many unofficial information said that India’s rice export restriction policies continue to be maintained.
In that context, many rice importers are forced to take advantage of importing goods because this is the period of full harvest in many important rice sources such as Thailand, Pakistan, Myanmar, Cambodia… causing rice prices on the world market. Gender increased again. However, Thai rice prices increased less than other countries because the Thai baht is depreciating against the USD faster than other currencies.
Vietnamese rice still maintains the highest level in the world because the autumn-winter rice harvest has not yet begun and the amount of rice left for export is not much. Besides, domestic rice prices this week also increased by 350 – 450 VND/kg; Specifically, regular rice in the field is 8,100 – 8,200 VND/kg, brown rice type 1 is from 12,600 – 12,800 VND/kg, white rice type 1 is from 14,700 – 14,800 VND/kg…
According to a report from the Ministry of Industry and Trade, in September, rice export of Vietnam increased by 80% over the same period last year and reached a value of 495 million USD. In the total of 9 months, rice exports reached a turnover of 3.66 billion USD, up 40% over the same period last year and exceeding the export turnover of the whole of 2022.
