Vietnam's export rice price surpasses Thailand's

If in previous months, Vietnam's 5% broken rice price was always 5-7 USD a ton lower than Thai goods, now it is 18-25 USD higher.

According to the Ministry of Agriculture and Rural Development, in October, Vietnam's 5% broken rice price was $425-430 a ton, the highest in a year. This price has made Vietnamese rice higher than similar products of India about $ 48-51 a ton and Thailand $ 18-25 a ton.

The price increased the highest compared to the two leading rice exporting competitors in the world and in the first 10 months of the year, rice exports reached more than 6 million tons, earning nearly 3 billion USD, up more than 17% in volume and more than 7%. value compared to the same period last year.

According to businesses, this is not the first time that the price of Vietnamese rice is higher than that of Thailand (the largest export competitor in the same rice segment). However, recently, Vietnamese rice has changed a lot as it has improved in quality and affirmed its brand.

Pham Thai Binh, General Director of Trung An Hi-tech Agriculture Joint Stock Company (Can Tho), said that in the past, Vietnamese rice exports were mostly popular rice products. High Quality. "Vietnamese fragrant rice lags behind Thailand but is developing many new varieties of rice, so it is increasingly popular with consumers," Mr. Binh said.

This position also said that the price of rice exported to the European market is very high, 700-1,250 USD per ton. Every month his company exports about 30 containers of rice to this market.

 ST25 rice is for sale at an agent on 3/2 street, district 10 (HCMC). Photo: Quynh Tran

Recently, the world's best rice varieties of Vietnam, ST25, ST24, and "Vietnamese Ong Cua Rice" have also been trademarked for sale in Australia.

At the same time, Vietnam continued to make its mark by the first time fried rice using ST25 rice from Vietnam became a "special lunch" at the Japanese Cabinet Office. In France, the brand "Vietnam Rice" is sold on the shelves of 4,000 supermarkets in France.

According to businesses, in the next 3 years, Vietnam will still benefit when the world is about to face climate change and the food supply is scarce. Currently, Thailand's rice production is declining, while India's crop size will be lower than previously expected as rains have damaged rice fields in the northern and eastern states. North. Heavy rains damaged crops just before harvest in the main producing states of Uttar Pradesh, West Bengal and Andhra Pradesh earlier this month.

Meanwhile, neighboring Bangladesh is grappling with the aftermath of Cyclone Sitrang that struck earlier in the week. According to preliminary estimates by the country's Ministry of Agriculture, the storm has destroyed more than 6,000 hectares of rice and is likely to be a shock to the country, which has been struggling to contain rising rice prices in the domestic market. after floods earlier this year destroyed 254,000 tons of rice.

Vietnam is the world's third largest rice exporter, after India and Thailand. Annual output is about 6-6.5 million tons, equal to 30% of India, accounting for 7.8% of global trade and is the largest exporter to China with 24.5% market share. Currently, Vietnamese rice is also exported to 28 countries and territories, spread across all continents, most notably Asia and Europe.

In the domestic market in the first 9 months of the year, the price of rice in the North tends to increase while in the South it decreases compared to the same period in 2021 (fresh IR50404 common rice decreased by 100-200 VND per kg; dry rice decreased by about 200 VND per kilogram). per kg; high quality rice OM 5451 reduced by 400-500 VND per kg.