Vietnamese rice prices continue to increase sharply, why?

Vietnam's rice export prices have increased for the second consecutive week, this week the increase is up to 15 USD/ton. According to the Vietnam Food Association (VFA), this week, fragrant rice prices reached the highest level of 465 USD/ton, up from 5 - 15 USD/ton depending on the type; Jasmine rice also increased by 3 USD to 503 USD/ton; 5% broken white rice stood at 379 USD/ton.

Vietnam's rice export prices increase sharply (PHOTO: CHI NHAN)

According to rice exporters in the Mekong Delta, rice prices have increased again due to a shortage of supply due to the off-season. In addition, taking advantage of the good rice prices, African countries have also increased their purchases. Another important factor is that exporters are preparing goods to serve the key market of the Philippines, which is expected to reopen its rice import market soon.

Many businesses in the Mekong Delta believe that the Philippines' rice import ban will end sooner than the expected 60 days. This was further reinforced when earlier this week, Mr. Francisco Tiu Laurel Jr., Secretary of Agriculture of the Philippines, told Congress that this year's rice output is only about 20.09 - 20.39 million tons (12.6 - 12.8 million tons of rice), not reaching the forecast of 20.46 million tons. However, this forecast is still higher than the 2024 output of 19.09 million tons of rice.

Previously, the Philippine government ordered a 60-day suspension of rice imports from September 1 to October 31, 2025, to support prices for domestic rice farmers. The ban applies to shipments leaving the exporting country's port before August 31 and arriving at Philippine ports before September 15. Update from the Philippine Bureau of Plant Industry (BPI) said: As of September 11, 3.1 million tons of rice had been imported; of which 2.47 million tons were imported from Vietnam, accounting for 79%, followed by Myanmar with over 340,000 tons, Thailand with 164,000 tons, Pakistan with 76,344 tons and India with nearly 20,000 tons.

Besides Vietnam, Thailand's rice export prices also increased. According to the Thai Rice Exporters Association (TREA), 5% broken standard rice increased by 7 USD to 379 USD/ton, Jasmine rice increased by 13 USD to 598 USD/ton, and Hom Mali specialty rice increased from 25 - 39 USD to 1,148 - 1,293 USD/ton. Thai rice prices increased again due to the strengthening of the country's currency against the USD. In addition, China increased imports of specialty fragrant rice from Thailand. In addition, Thailand is also promoting rice exports to the world's most demanding market, Japan.

Meanwhile, Indian rice prices continued to fall due to rising inventories. As of the end of August, the amount of rice in state-managed reserves reached 48.2 million tons; up 14% year-on-year and a historic high. The Indian Rice Exporters Association forecasts rice exports to increase by nearly 25% year-on-year, reaching a record 22.5 million tons in 2025./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-gao-viet-nam-tiep-tuc-tang-manh-vi-sao-185250921150903995.htm

Source: https://baolongan.vn/gia-gao-viet-nam-tiep-tuc-tang-manh-vi-sao-a202919.html