According to the Ministry of Agriculture and Rural Development , Vietnam's average rice export price reached 624 USD/ton, up 13% over the same period, and turnover reached over 4.7 billion USD, up 23%.
According to data from the Vietnam Food Association (VFA), the price of 5% broken rice in Vietnam is currently trading at 538 USD/ton in the session on October 14, the lowest price in the past 15 months. Part of the reason is believed to be due to the impact from the Indian market, when after a long period of banning exports, this country reopened rice warehouses and increased exports to the international market. However, contrary to public predictions, many domestic rice exporting enterprises have proactively planned early, minimizing the impact from the world rice market due to India loosening its export policy, by focusing on exporting fragrant rice and high-quality rice.
More than 1,000 tons of high-quality rice from the company have been exported to the Japanese market since early October at a selling price of about 800 USD/ton. Although this is a high-priced rice variety, the company can still successfully export in a competitive context thanks to its association with cooperatives and farming households to ensure that the output products meet high quality standards.
Mr. Le Anh Nam - Deputy General Director of A AN Food Joint Stock Company, Tan Long Group said: "The price of white rice with 5% broken rice has been adjusted down. However, for medium and high-grade rice, fragrant rice is not much affected because this is a different segment and it targets demanding markets as well as markets that require higher quality".
According to experts, the Ministry of Industry and Trade and Vietnam's Trade Offices abroad need to provide businesses with information on the demand of each market for rice varieties and the level of competition between exporting countries such as Myanmar, Pakistan, and India. At the same time, it is necessary to review the total volume of domestic and exported rice as of October, giving priority to contracts that businesses have signed.
Mr. Hoang Trong Thuy - Agricultural expert said: "Enterprises must closely follow information about market developments and consumer changes to find a niche market. As for Vietnam's rice import market, I believe that many countries in the Asian region and even other markets will still have to look for it."
Although the export price of 5% broken rice from Vietnam is at its lowest level in the past 15 months, according to the Ministry of Agriculture and Rural Development, the average export price of Vietnam's rice is still at 624 USD/ton, up 13% over the same period, and the turnover is over 4.7 billion USD, up 23% over the same period. Therefore, positioning the right segment of rice export production is very important in the current context.
According to VTV
Source: https://doanhnghiepvn.vn/doanh-nhan/doanh-nghiep-ung-pho-voi-bien-dong-thi-truong-xuat-khau-gao/20241015100301728
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