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Tuesday, June 25, 2024

Vietnam rice prices at world’s lowest

By Trung Chanh

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CAN THO – Vietnam’s rice export prices have dropped by over US$80 per ton since their December 2023 peak, positioning Vietnam as the country offering the most competitive rice prices among major exporting nations.

In early December 2023, Vietnam’s 5% broken rice commanded significantly higher prices than those of Pakistan and Thailand, standing at around US$663 per ton, whereas Pakistan’s and Thailand’s prices were US$598 and US$630 per ton, respectively.

According to the Vietnam Food Association (VFA), the price of Vietnam’s 5% broken rice currently ranges from US$579 to US$583 per ton, while the 25% broken rice has dropped to US$557-561 per ton.

This means Vietnam’s rice prices are now at their lowest compared to those of other major rice exporting countries. For 5% broken rice, Vietnam’s price is US$34 lower than Thailand’s, US$20 lower than Pakistan’s, and US$61 lower than Myanmar’s.

Vietnam’s 25% broken rice is US$4 cheaper than Thailand’s and US$5 cheaper than Pakistan’s.

Phuoc Thanh IV Trading – Production Company Limited attributed the price fall to increased supply from exporting countries and Vietnam’s ongoing bumper rice crop.

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