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Sunday, June 23, 2024

Rice export price falls for fourth straight time

The Saigon Times

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HCMC – Vietnam’s 5% broken rice price last month dropped by US$25 over the previous month to US$390-393 per ton, marking the fourth straight price decrease.

According to the Center for Informatics and Statistics at the Ministry of Agriculture and Rural Development, in the first eight months of this year, rice exports reached 4.73 million tons worth US$2.3 billion. This volume represents an 18.6% year-over-year rise.

Currently, Vietnam’s rice is priced lower than that of Thailand due to the low demand and the bumper summer-autumn rice crop.

The average export price of rice in the first eight months slid 8.8% year-on-year at US$487 per ton.

The Philippines is the largest importer of Vietnam’s rice, accounting for 46.4% of the Vietnamese rice exports.

In the first seven months of this year, Vietnam exported 1.98 million tons of rice to the Philippines, with a total value of over US$924 million. This volume is up 56.9% year-on-year.

Provinces in the Mekong Delta, the country’s key rice producing region, saw an increase in ordinary rice prices and a decrease in high-quality rice prices.

Over the last month, rice prices in An Giang soared by VND100-200 for ordinary type and inched down by VND200-300 for high-quality type.

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