Vietnam's rice export prices cool down, but remain high

SGGP September 19, 2023 10:26

Although 25% broken rice has fallen below $600/ton, Vietnam's rice export price is still high compared to before the world rice fever.

Vietnam's rice export prices are still high compared to before the world rice fever. Photo: VGP

On September 18, information from the Ministry of Industry and Trade and the Vietnam Food Association said that after about a week of slight downward adjustment, at the beginning of this week, the export price of 5% broken rice from Vietnam continued to decrease by another 15 USD/ton, to 613 USD/ton; the price of 25% broken rice also decreased by 15 USD/ton, down to 598 USD/ton. Although 25% broken rice has fallen below 600 USD/ton, the export price of Vietnamese rice is still at a high level compared to before the world rice fever.

The Vietnam Food Association forecasts that, as the world market's demand for Vietnamese rice in 2023 will increase by at least 1 million tons compared to the average of previous years, the export market in the remaining months will still be positive.

It is forecasted that the Philippines will remain the number one market for Vietnamese rice, accounting for 40% of the market share. China has recently slowed down its rice imports due to high prices, but this country may increase its imports again in the near future due to a poor harvest.

Source