The price of Vietnamese rice is the highest in the world and is expected to rise further
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- Business
- 18:21 31/07/2022
DNHN - Vietnamese rice is already substantially more expensive than Thai and Indian rice... and the price of Vietnamese rice is expected to rise further shortly.
According to the Vietnam Food Association (VFA), rice export prices in Thailand and Pakistan have been falling for several sessions. This week, rice prices in these countries fell below the 400 USD/ton threshold for all three types of 5 per cent, 25%, and 100% broken rice. Meanwhile, Vietnam's rice price has remained stable and is currently the highest among the world's largest rice exporting countries.
On July 26, the 5 per cent broken rice price in Vietnam was $413/ton, $13/ton higher than Thai rice and $70/ton higher than Indian rice. Vietnam's rice prices are 393 USD/ton for 25 per cent broken rice.
According to the Ministry of Agriculture and Rural Development, Vietnam's rice exports hit 3.5 million tons in the first six months of the year (up 15.4 per cent over the same time the previous year), totalling around 1.72 billion USD. In this regard, the Philippines remains the top market, accounting for 49.89 per cent of total rice exports.
Vietnamese rice, in particular, has steadily grown into new and high-end markets such as the United States, Europe, and Korea in recent years. For the first time, 100 tons of ST25 Vietnamese rice were officially marketed and sold in Japanese supermarkets and shops at the beginning of July, marking a historic milestone when Vietnamese rice first appeared on the table of Japanese family dinners.
PV
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