26.2 C
Ho Chi Minh City
Tuesday, July 16, 2024

spot_img

TAG

rice

Uncertainties over rice exports

After a promising end to last year, Vietnam’s rice export prices have been declining since early this year. Will this decline reverse in the months ahead? A prolonged decline Since India’s decision to ban non-basmati white rice exports in July 2023, the global rice market has remained active as rice importers have rushed to seek supplies from other exporting countries like Thailand, Vietnam, and Pakistan to ensure food security. For example, Indonesia overtook China as Vietnam’s second-largest rice buyer last year, purchasing nearly 1.17 million tons of Vietnamese rice worth over US$640 million. This marked a 9.8-fold rise in volume and a 10.9-fold increase in value against 2022. The surge in market demand caused Vietnam’s rice export prices to rise sharply last year. According to statistics from the General Department of Vietnam Customs, the average export price of Vietnamese rice was US$512 per ton in January 2023. However, after India halted non-basmati white rice exports on July 20, it reached US$549 per ton. Vietnam’s average rice export price continued to rise, reaching US$593 per ton in August 2023, and further climbing to US$618, US$640, US$667, and US$688 per ton in the following months of last year. In January 2024, the […]
To read more, please click here.

Australia’s SunRice explores more investment in Vietnam

HCMC – Australia's rice company SunRice is weighing expanding its investment in Vietnam, the largest rice growing country in Southeast Asia, local media reported. During...

Still much to be done

“Vietnam’s agricultural production has undergone positive changes. However, to stay firm amid fluctuations, and to expand the domestic and export markets, there is still...

WB supports Vietnam’s entry into voluntary carbon market through rice cultivation project

HCMC - The World Bank (WB) will support Vietnam's participation in the voluntary carbon market through an initiative involving one million hectares dedicated to...

Australia backs over AU$5 million for rice production in Mekong Delta

HCMC - The Mekong Delta province of Dong Thap has launched a sustainable rice value chain project in the delta as a public-private partnership...

Vietnam importers advised to re-negotiate with India over rice purchases

HCMC – Vietnam's Trade Office in India has urged Vietnamese rice importers to contact their Indian sellers to check the status of delivery and...

Building a national brand for rice

At wet markets, consumers can find varieties of rice stored in bowls and baskets from age-old brands such as Nang Thom Cho Dao, Huong...

Latest news

spot_img