Vietnam: Proactively implementing solutions to maintain rice export prices

Published 2024년 12월 2일

Tridge summary

The article highlights the competitive landscape of the rice export market, focusing on Vietnam's advantageous position with its 5% broken rice commanding higher prices than competitors in Thailand and India. Despite an overall drop in prices due to India's decision to remove export restrictions, Vietnam's rice exports to the Philippines have seen growth, reaching over 2.91 million tonnes as of October 2024, with projections to surpass 3.5 million tonnes. The country aims to expand its export markets to include the European Union, China, and the Middle East, leveraging trade agreements like the Vietnam-UAE CEPA. Additionally, Vietnam plans to enhance its rice quality by producing high-value varieties and implementing projects like the 'Sustainable Development of One Million Hectares of High-Quality and Low-Emission Rice Cultivation' in the Mekong Delta, aiming to increase the added value of its rice exports and maintain its leading position in the global market.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Vietnam Food Association (VFA), the export price of 5% broken rice from Vietnam is currently at 524 USD per tonne, higher than the same grade rice from Thailand and India by 38 USD per tonne and 80 USD per tonne, respectively. However, compared to before India lifted the ban on exporting regular white rice (non-basmati), the export price of rice from most countries has decreased by 38-50 USD per tonne. To maintain rice export prices in the coming period, Vietnam's rice sector needs to proactively plan appropriate production and consumption strategies. According to the Ministry of Agriculture and Rural Development, in the first 10 months of the year, Vietnam exported nearly 7.8 million tonnes of rice, with a value of 4.86 billion USD, a 10.2% increase in volume and a 23.4% increase in value compared to the same period in 2023. The average export price of rice for the first 10 months is estimated at 626.2 USD per tonne, up 12% compared to the same period in 2023. ...
Source: WTOCenter

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.