Many foreign countries have welcomed Vietnam’s high quality rice with higher prices, helping increase the country’s rice prices by 20- 30%. Learning from previous years’ experiences, this year the agricultural sector has applied technology and restructure crop to boost rice productivity and quality. According to Nguyen Xuan Cuong, Minister of Agriculture and Rural Development, since the beginning of this year, many exporters have signed feasible orders from Asian countries, and traditional markets with export price of over US$475 per tonnes. Production and market organization has showed positive sign, ensuring income for farmers and exporters. The world’s rice market is expected to enjoy an eventful year. Many traditional trading partners of Vietnam have bounced back. Pham Thai Binh, Director of Trung An High Technology Agriculture JSC told reporters: “My company and other exporters nationwide have received big number of orders compared to 2017. However, enterprises should have plans to sign orders with the highest prices.” The world’s rice trade is forecasted to increase by 1% to reach 42.3 tonnes, opening a chance for the country’s rice sector to continue bringing into play its advantage, promoting Vietnamese rice brand worldwide.
According to the Ministry of Industry and Trade, the demand for Vietnam’s 5% broken rice, has been rising, hitting US$390 per tonne in the early days of June, against US$360 per tonne to US$380 per tonne in late May.
This is the highest price since December 2014, the ministry said, attributing it to the rising global demand for rice imports, especially in the Asian region.
The export price rise has also caused the paddy price in the domestic market to soar. A tonne of 5% broken rice in the domestic market…... [read more]
Rice exporters have set prices at 460 USD a tonne for 5 percent of broken rice contracts and 430 USD a tonne for 25 percent of broken rice contracts, during their transactions since mid-February. Such prices have shown an increase of between 50 and 70 USD per tonne, or up by 50 and 53 percent, over the same period last year. The Ministry of Industry and Trade said the prices of rice from major exporters such as Thailand and Viet Nam will continue to slightly rise in March due to increasing demands for food from many countries as well as…... [read more]
The value of agricultural and seafood product exportsrose by 12.1 per cent year-on-year in the first 11 months of this yearto reach US$28.2 billion. Rice is loaded at Sai Gon Port in HCM City for export. The price of Vietnamese rice exports increased by 4.61 per cent to reach $460.09 per tonne against the same period last year, while global prices fell. This figure includes $2.66 billion gained this month, according to the Ministry of Agriculture and Rural Development. The ministry noted that the volume of rice exports fell by 2.7 percent to stand at 6 million tonnes, but the…... [read more]
Stacks of rice packages inside a storehouse at the Kien Giang Import and Export Joint Stock Company. — VNA/VNS Photo Trong Dat
The price of Vietnamese export rice has hit a three-year high thanks to the rising import demands and the restricted supply source.
According to the Ministry of Industry and Trade, the demand for Viet Nam’s 5 per cent broken rice, has been rising, hitting US$390 per tonne in the early days of June, against $360 per tonne to $380 per tonne in late May.
This is the highest price since December 2014, the…... [read more]
The ministry said on its website that high demand from the Philippines, the world's biggest rice buyer, at the end of Vietnam's crop is a major reason for the price rises. Local traders said 5% broken rice was offered at US$500/ton, FOB, up by US$40/ton from a week earlier and by 30% from the beginning of the year. Prices of 25% broken rice also rose to US$470/ton, FOB, from US$420/ton against a week ago; and US$330/ton from Jan, 2009. "Vietnamese rice export prices will continue surging by the first quarter of 2010 thanks to high demand," a trader in HCM…... [read more]
