When rice prices rise, rice exporting companies must employ effective strategies.
- 126
- Business
- 23:15 05/10/2023
DNHN - In light of rising rice prices, the chairman of the Vietnam Food Association stated that rice exporting companies need a strategy to ensure export efficiency.
In recent months, export rice prices have slowed as a result of some importing countries' efforts to curb inflation and concentrate on developing domestic production, as well as increasing food reserves and inventories. Nonetheless, Vietnam's rice export price remains the highest in the world.
According to the Vietnam Food Association, the prices of all types of Vietnamese rice remained stable on October 4. Vietnam's 5% broken rice price is 613 USD per tonne, while Thailand's is 586 USD per tonne (a decrease of 4 USD per tonne) and Pakistan's is 558 USD per tonne (a decrease of 30 USD per tonne). Vietnam's 25% broken rice costs 598 USD/ton, while Thailand's and Pakistan's are 538 USD/ton (down 3 USD/ton) and 498 USD/ton (down 20 USD/ton), respectively.
Mr Tran Thanh Hai, Deputy Director of the Import-Export Department (Ministry of Industry and Trade), stated that the demand for rice imports from rice markets will likely keep Vietnam's rice export price high shortly. Rice supply from leading exporting nations, such as India and Pakistan, remains limited despite the sizeable market.
Mr. Nguyen Ngoc Nam, chairman of the Vietnam Food Association (VFA), stated that, as a result of Vietnam's export rice prices leading the market, the income of the entire industry chain has increased significantly compared to the years Mr. Nam also stated that there is still a great deal of room for rice exports, as markets such as the Philippines and Indonesia have a significant demand for rice imports.
In the context of rising rice prices, however, rice exporting companies must have strategies to ensure export efficiency. To ensure food security, exporters and rice producers in the Mekong Delta are required to maintain food reserves, even though rice demand on the market is still rising. the nation.
According to Mr. Nguyen Van Viet, Director of the Planning Department of the Ministry of Agriculture and Rural Development, the new harvest has occurred throughout the nation, and rice output has increased compared to the same period last year. In October, the Mekong Delta region is anticipated to sow approximately 1.5 million hectares of Winter-Spring rice. This will help Vietnam maintain a rice supply sufficient to meet export demand shortly.
P.V (t/h)
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