vietnam export rice prices regain top position globally
Published on: May 8, 2024.
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Prices of Vietnamese rice in the global market witnessed an increase of 3 to 8 U.S. dollars per ton last week, according to the Vietnam Food Association, as reported by Vietnam News Agency. This surge in prices has propelled Vietnam to regain the top spot in terms of export rice prices.
The price for Vietnam’s 5 percent broken rice is now at 585 dollars per ton, which is 3 dollars per ton higher than the same type of rice from Thailand and 10 dollars per ton higher than Pakistan’s. Meanwhile, Vietnam’s 25 percent broken rice and 100 percent broken rice are priced at 555 dollars and 470 dollars per ton, respectively.
In terms of export performance, Vietnam has experienced significant growth. In the first four months of this year, the country earned 2.08 billion dollars from exporting 3.23 million tons of rice. This represents a 36.5 percent increase in value and an 11.7 percent increase in volume compared to the same period last year. These numbers are according to data from the Ministry of Agriculture and Rural Development.
Looking ahead, Vietnam’s rice output is projected to reach 43 million tons by 2024. This level of production will be sufficient to meet both domestic consumption and the demand for export, which is expected to exceed 8 million tons, as stated by the ministry.
Overall, Vietnam’s rice industry is experiencing positive growth and competitiveness in the global market. With rising prices and increasing export volumes, the country’s rice exporters are seizing opportunities to expand their business and strengthen their position in the industry.
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