Vietnamese rice prices hit record highs, surpass Thai levels
VOV.VN - Vietnamese rice export prices have soared to reach new record highs, with the average price now roughly US$100 per tonne higher than Thailand’s, according to Vietnam Food Association (VFA).
After 10 days of no changes, Vietnam’s average export rice price on October 31 increased by US$5 to US$10 per tonne depending on the type.
According to the changes, Vietnamese 5% broken rice climbed by US$10 per tonne to US$653, US$92 higher than similar varieties from Thailand.
The price was also US$90 per tonne higher than Pakistan’s and US$65 per tonne higher than Myanmar’s.
Meanwhile, the country’s 25% broken rice was traded at US$638 per tonne, while Thai and Pakistani rice of the same kind was at US$521 and US$488 per tonne, respectively.
The price of jasmine rice also increased by US$5 per tonne to US$728.
The average price of Vietnamese rice for export has therefore reached its 15-year record high following export restrictions put in place in India.
Meanwhile, the purchasing prices of 5% and 25% broken rice in the domestic market also continuously increased over the past two weeks, reaching VND15,500 and VND15,000 per kilo respectively.
The General Department of Customs reported that Vietnam shipped abroad about 7.1 million tonnes of rice worth US$4 billion in the first 10 months of the year, up 17% in volume and up 35% in value year on year.
Indonesia became the largest importer of Vietnamese rice with 166,000 tonnes, followed by the Philippines, Ghana, and China.
Vietnam is likely to export 7.8 million tonnes of rice this year to rake in US$4.2 billion to US$4.5 billion in revenue thanks to the increase in autumn-winter rice growing areas.
VOV