Vietnam: Rice export toward high-end market

Published 2023년 6월 5일

Tridge summary

Vietnam has seen a significant increase in rice exports in the first five months of 2023, with a 40.8% rise in volume and a 49% increase in value compared to the same period in 2022, reaching 3.9 million tons valued at 2.02 billion USD. The average export price of rice in this period was 517 USD/ton, marking a 5.8% increase and the highest in the past 10 years. Demand from China and Southeast Asian markets, especially the Philippines, has contributed to this growth. However, despite these market advantages, many rice exporters are experiencing losses due to higher bank loan interest rates and the need to purchase rice at high prices for pre-signed contracts.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Center for Digital Transformation and Agricultural Statistics (Ministry of Agriculture and Rural Development), the volume of rice exported in May 2023 is estimated at 1 million tons with a value of 489 million USD. Accumulated in the first 5 months of the year, Vietnam has exported nearly 3.9 million tons of rice, worth 2.02 billion USD - up 40.8% in volume and 49% in value over the same period in 2022 This is also the strongest growth rate of the same period of the years from 2013 until now. The average export price of rice in the first 5 months of 2023 is estimated at 517 USD/ton, up 5.8% over the same period in 2022. Even in June 2023, the export rice price will continue to increase due to world demand. high gender. Recorded on June 2, Vietnam's 5% broken rice price is being offered for sale at $498/ton and 25% broken rice at $483/ton. At this price, Vietnamese rice is currently 5-18 USD/ton higher than Thailand's rice of the same type. The price of rice for ...

Source: VNRuralEconomics