On-the-Ground Update

Vietnam's Rice Prices Stabilize in W48 Meanwhile Exports Reach Record Levels with 7.37 Million Tons Valued at USD 4.15 Billion in 2023

Rice
Vietnam
Market & Price Trends
Lai Nguyen Thi
Published Nov 30, 2023
On November 30, the Vietnam Food Association announced that rice prices in the Mekong Delta region continued to trend sideways and stabilize in recent weeks.

In W48, Vietnam's export rice price was adjusted to increase by USD 5/ton. Specifically, the export price of 5% broken rice is USD 663/ton, while 25% broken rice fluctuates around USD 648/ton. Along with the increase in rice export prices, Thailand's rice price of the same quality increased by USD 5/ton to USD 618/ton, which is lower than Vietnam's rice export price.

According to the Food Association, rice exports are reaching record levels. Preliminary statistics indicate that in the first half of November, rice exports reached 332 thousand tons, valued at USD 219 million. From the beginning of 2023 until mid-Nov-23, the country's rice exports totaled 7.37 million tons, valued at USD 4.15 billion. This marks a record in rice prices over the past ten years, surpassing the record set in 2011, reaching USD 3.51 billion.

Rice exports in Dec-23 are expected to continue to increase due to increased food demand in many countries at the end of 2023 and early 2024.
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