Vietnam's rice export price in early 2024 sometimes reached 703 USD/ton

Market & Price Trends
Published Feb 26, 2024

Tridge summary

Vietnam's rice exports have seen a significant increase in the first half of February, with a 14.4% rise in quantity and a 53% rise in value compared to the same period in 2023. Despite this, the export price of rice is on a downward trend, causing a drop in the price of winter-spring rice in the Mekong Delta. However, experts predict this trend will not last long and anticipate an upward fluctuation in prices in 2024 due to a tight supply.
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 the latest statistics of the General Department of Customs (Ministry of Finance), rice exports in the first half of February (February 1 - 15) reached 150,944 tons, worth 104.33 million USD. Accumulated from the beginning of the year to February 15, rice exports reached 663,209 tons, worth 466.6 million USD. The average export price of rice is 703.5 USD/ton. Compared to the same period in 2023, the amount of rice exported has increased by 14.4% (an increase of more than 83,000 tons); Meanwhile, export value increased by 53% (an increase of nearly 161 million USD). The average rice export price is 703.5 USD/ton, up to 33.65% over the same period in 2023 (only reaching about 526 USD/ton). However, Vietnam's export rice price in the world market tends to decrease. The price of Vietnam's 5% broken rice currently reaches 609 USD/ton, down to 19 USD, lower than the price of the same type of rice in Thailand. The decrease in export rice prices has caused the price of ...
Source: Danviet
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