Vietnam's rice export price is greater than Thailand's and India's

DNHN - Rice exports from Vietnam are likely to rise in the next few months due to increased demand from countries such as China, Bangladesh, Iran, and Sri Lanka.

According to the Ministry of Agriculture and Rural Development, Vietnam exported about 550 thousand tons of rice worth USD 273 million in April. This brings the total amount exported in the first four months to 2.05 million tons worth USD 1.05 billion, which is up 4.4% in volume but down 6% in value from the same time last year.

Despite the decline in value, Vietnam's rice price remains greater than that of other nations. Thailand's 5% broken standard rice, for example, was $410–412/ton in April, while India's 5% broken rice was $361–365/ton, down $10/ton from the previous month. 

Meanwhile, Vietnam's 5 per cent broken rice exports dropped back to $415/ton in mid-April after reaching $425/ton in mid-April.

With a 42.6 per cent market share, the Philippines remains Vietnam's biggest rice consumption market. Ivory Coast, in particular, was Vietnam's rice import market with the greatest rise (76 per cent over the same period last year).

Domestically, rice prices in the Mekong Delta regions rose somewhat as trading remained calm. In An Giang, IR50404 rice is at 5,500 VND/kg (up 100 VND/kg from the March average); rice is generally at 11,000 VND/kg; and jasmine speciality fragrant rice is at 15,000 VND/kg, steady from the previous month.

In Kien Giang, the price of IR50404 rice is 6,500–6,600 VND/kg (up 650 VND/kg), while the price of OM 5451 high-grade rice is 6,600–6,800 VND/kg (up 300 VND/kg).

By 2022, the Mekong Delta as a whole will have harvested 80–90% of the winter-spring rice region, and many places will have finished harvesting and seeding the summer-autumn crop. However, because of high production expenses, this year's summer-autumn harvest is less cultivated.

According to the Ministry of Agriculture and Rural Development, Vietnam's rice exports will rise in the next few months due to increased demand from countries such as China, Bangladesh, Iran, and Sri Lanka.

PV