Countries rush to buy a key agricultural product from Vietnam, selling 6 million tons in 8 months at a record high price

Rice

Vietnam

Published Sep 15, 2023

Tridge summary

Vietnam's rice export prices have continued to decrease, with 5% broken rice priced at $613 per ton and 25% broken rice at $598 per ton. Despite this, Vietnam has set unprecedented records in rice exports, with 921,000 tons exported in August alone. Traditional markets like the Philippines and China remain the largest buyers of Vietnamese rice, but there has been an increase in demand from countries like Senegal, Poland, Ghana, and Gabon due to a lack of supply from India and domestic shortages caused by drought.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

According to data from the Vietnam Food Association, Vietnam's rice export price in the trading session on September 13 recorded a further decrease. Accordingly, Vietnam's 5% broken rice price is currently 613 USD/ton, down 15 USD/ton compared to the trading session on September 12; The price of 25% broken rice is 598 USD/ton, down 15 USD/ton compared to the trading session on September 12. Currently, the price of 5% rice in Vietnam and Thailand is similar, while the price of Pakistani rice is at 608 USD/ton. It can be seen that in the eight months of 2023, Vietnam's rice exports have set unprecedented records after more than 30 years of joining the world rice market. Never before has Vietnam exported 921,000 tons of rice in just one month (August), bringing Vietnam's rice export output in the first 8 months of 2023 to nearly 6 million tons, worth 3.16 billion USD, increased by 21.4% in volume but increased by 35.7% in value over the same period last year due to a sharp increase ...

Source: Danviet