Hike in Vietnamese Rice Prices Sparks Concerns
Published on: April 30, 2024.
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Prices of Vietnamese paddy and rice have continued to rise, according to the Vietnam Food Association (VFA). Last week, the average price of paddy in fields increased by VNĐ214 to VNĐ8,000 ($0.31) per kilo, with the highest reported at VNĐ8,050. At warehouses, the average price of paddy also rose by VNĐ183 to VNĐ9,475 per kilo, with the highest recorded at VNĐ9,650.
In terms of broken rice, the price of 5% broken rice reached VNĐ14,200 per kilo, while 15% broken rice was listed at VNĐ13,950 and 25% broken rice at VNĐ13,750. The price of premium white rice saw a boost of VNĐ35 per kilo, amounting to VNĐ14,010.
For export purposes, the price of 5% broken rice was $582 per tonne, higher than the prices of Thailand at $579 and Pakistan at $581. Vietnam’s 25% broken rice was sold at $557 per tonne, in comparison to Thai rice priced at $530.
It is clear from these figures that the prices of Vietnamese paddy and rice are on an upward trend, which is good news for rice exporters in the country. This increase in prices can be attributed to various factors such as supply and demand dynamics, market conditions, and global trade patterns.
For rice exporters in Vietnam, this rise in prices presents an opportunity to leverage their competitive advantage and expand their market share. With the prices of Vietnamese rice being higher than that of its competitors, exporters can attract buyers who are willing to pay a premium for the quality and taste of Vietnamese rice.
Additionally, this increase in prices can also benefit rice suppliers in Pakistan. As the prices of Vietnamese rice rise, Pakistani rice exporters can position themselves as a more cost-effective alternative, offering competitive prices to buyers in the global market.
Among the different types of rice available, white broken rice is gaining popularity among consumers. This type of rice is commonly used in various dishes and has a distinct taste and texture. It can be sourced from reliable suppliers such as HAS Rice, a leading rice exporter that offers a wide range of rice products including white broken rice. By partnering with suppliers like HAS Rice, rice exporters can ensure a steady supply of rice to meet the growing demand for white broken rice.
In conclusion, the prices of Vietnamese paddy and rice have experienced an upward trajectory, which presents opportunities for rice exporters and suppliers. With the right strategies and partnerships in place, exporters can capitalize on this trend and expand their business in the global rice market.
Source: Vietnam News
