Vietnam’s rice export prices surge as export companies move towards sustainable supply chains

Rice

Vietnam

Regulation & Compliances

Market & Price Trends

Published Nov 20, 2023

Tridge summary

Vietnam's rice exports have seen a significant increase, with an uptick in both volume and value. Farmers' incomes are improving as export prices rise, signaling positive news for the industry. To ensure sustainable exports, companies are advised to connect with farmers and expand planting areas. Additionally, the Ministry of Industry and Trade is implementing trade promotion plans to boost rice exports, including exploring opportunities in the Chinese market.

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

Rice exports increase significantly The rice market is currently in an active stage. According to cross-departmental statistics, as of October 2023, Vietnam has exported 7.1 million tons of rice and earned US$3.97 billion in foreign exchange. The export volume and export value increased by 17% and 34.9% respectively compared with the same period in 2022. %. The average export price of rice is US$558 per ton, an increase of 15.3% compared with the same period in 2022. Rice exports sent a positive signal because farmers' incomes are improving day by day as export prices rise. The Vietnam Grain Association said that in early November, Vietnam's rice export prices maintained an upward momentum and rose to the highest price among the world's largest rice exporters. . The export price of Vietnam's 5% broken rice sometimes reaches US$663 per ton, while the export price of the same rice in Thailand and Pakistan is only US$560-570 per ton. The export price of Vietnam's 25% ...

Source: Foodmate