Vietnamese rice prices reach world's highest level

Published 2024년 8월 18일

Tridge summary

The Vietnam Food Association reports a significant increase in the export price of Vietnamese rice, with 5% and 25% broken rice priced higher than competitors from Thailand and Pakistan. This increase is due to high demand from the Philippines and Indonesia, as their domestic rice production has decreased. In the first seven months of the year, Vietnam exported over 5.1 million tons of rice, generating a revenue of 3.2 billion USD, and is on track to reach a record 8 million tons in exports this year, earning over 5 billion USD.

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 575 USD/ton, 14 USD/ton higher than that of Thailand and 34 USD/ton higher than that of Pakistan. Vietnam's 25% broken rice is also traded at 539 USD/ton, surpassing the prices of Thailand and Pakistan This strong increase marks an impressive comeback of Vietnamese rice after being lower than competitors such as Thailand, Pakistan, and Myanmar a month ago. Illustrative photo Mr. Nguyen Van Don, Director of Viet Hung Company Limited (Tien Giang), said that the company's rice export volume to the Philippines market has increased by more than 30% in the past half month. He said that the demand for rice imports from other countries, especially the Philippines and Indonesia, is increasing sharply, contributing to pushing up the price of Vietnamese rice. The Philippines has increased its rice imports from 4.2 million tons to 4.5-4.7 million tons, while Indonesia may import up ...

Source: Voh