HCMC – Vietnam’s rice export revenue in the first seven months of this year rose by 6% over the same period last year to US$3.27 billion, with the average rice price up by 18.2% to US$632 per ton.
According to the Ministry of Agriculture and Rural Development, Vietnam’s 5% broken rice was offered at US$560 per ton on August 1, up from US$550-560 per ton in the previous week.
In Thailand, 5% broken rice was priced at US$570-575 per ton on the same day, unchanged from the prior week. Traders in Bangkok noted that prices have fluctuated slightly following Indonesia’s recent tender announcement, reported the Vietnam News Agency.
Major rice-exporting countries, including Thailand and Vietnam, are awaiting further moves from India. India’s 2023 export ban on non-basmati rice has raised global prices, benefiting exporters like Vietnam and Thailand.
In India, export prices for 5% broken rice have risen to their highest since mid-June 2024, ranging from US$543 to US$551 per ton. Export volumes from India have slowed due to export taxes, which have reduced its price advantage.
Government sources indicated that India may lower the minimum export price for basmati rice and replace the 20% export tax on non-basmati rice with a fixed rate, as domestic rice reserves reach record levels.
