Vietnam's rice prices reached a new peak, far surpassing competitors Thailand and Pakistan

Market & Price Trends
Published Nov 27, 2023

Tridge summary

Vietnam's 5% broken rice reached a new peak at $663/ton in the trading session last week, making it significantly more expensive than Thai and Pakistani rice. Despite a slight decrease, Vietnamese rice prices remain high and are expected to stabilize around $600/ton. The country has exported nearly 7.4 million tons of rice this year, with an estimated value of around $4.16 billion.
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

After reaching a peak in the trading session on November 21, the next day, Vietnam's rice price decreased slightly by 5 USD/ton. Specifically, at the end of the trading session on November 22, the price of Vietnam's 5% broken rice was at 658 USD/ton, 25% broken rice was at 643 USD/ton. Despite a slight decrease, Vietnamese rice prices are still far ahead of Thai and Pakistani rice prices. Currently, Thailand's 5% broken rice is trading around 590 USD/ton, 25% broken rice is 546 USD/ton; Pakistani rice is similar at 583 USD and 503 USD/ton. Talking to PLO, many rice exporting businesses assessed that Vietnam's rice export price is currently at a record high. This price will be both an advantage, but also has many potential risks. Mr. Vu Van Dong, General Director of Dai Duong Investment and Trading Joint Stock Company, a unit specializing in exporting rice to the Chinese market, said that with the current high price, while India stops exporting rice, it will continue to operate. ...
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