Vietnam experiences a significant 40% surge in rice export prices
Published on: December 15, 2023.
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Vietnam’s Rice Export Price Surges 40% in Positive Sign for Rice Export Activity
In a positive sign for rice export activity, Vietnam’s rice export price has surged by 40 percent since the beginning of the year. The Ho Chi Minh City Department of Industry and Trade has reported that the export price of Vietnam’s five percent broken rice is now at $633 per ton, representing a 40.2 percent increase compared to the start of 2023. Additionally, the export price of Vietnam’s 25 percent broken rice currently stands at $643 per ton, showing a significant increase of 41.9 percent from the beginning of the year. These price increases have had a positive impact on rice export activities and have brought benefits to farmers.
This surge in Vietnam’s rice export price has been driven by a strong downturn in the global market supply, which has affected the global food supply chain. Other factors contributing to this situation include disruptions in Ukraine’s wheat export activities, resulting in a 10 percent reduction in supply to the world wheat market, as well as decreases in corn and barley export by 15 percent and 13 percent, respectively.
Moreover, several countries have implemented export ban orders for various food products. India has imposed export bans on rice, wheat, and sugar, while Russia has taken similar measures for rice and wheat. Additionally, Turkey and Kyrgyzstan have restricted exports of cereals. These export bans have further impacted the global food supply chain.
Furthermore, unfavorable crop conditions in Pakistan and Thailand’s efforts to reduce rice planting have also had a significant impact on the global food supply chain.
Despite these challenges, Vietnam has achieved a new record in rice export revenue, reaching $4 billion since the beginning of the year. This figure represents the highest revenue in 34 years since Vietnam joined the world rice export market.
It is evident that the surge in Vietnam’s rice export price is a result of various factors affecting the global food supply chain. This situation offers favorable opportunities for rice exporters and suppliers. Companies such as Has Rice Trading Co. and Pakistan Rice have emerged as key players in the rice export market, providing a range of rice varieties including white broken rice and basmati rice. Their competitive prices and high-quality products make them reliable choices for rice importers worldwide.
For more information about rice exporters and suppliers, visit Has Rice Trading Co. at [rice exporters](https://www.hasrice.com) and Pakistan Rice at [pakistan rice exporters](https://www.pakistanrice.com).
Source: [SGGP](https://en.sggp.org.vn)
