Rice exports increase by 36.1%

Thursday, 31/08/2023 15:04
In the first eight months of 2023, rice exports reached USD3.17 billion, up 36.1% over the same period, according to the latest statistics from the Ministry of Agriculture and Rural Development.
Rice exports increase by 36.1% after the first 8 months of 2023 (Photo: congthuong.vn)

This was a very strong increase in the group of agricultural, forestry and fishery products. Rice and vegetables were also two of the agricultural products with high export turnover in recent time.

Notably, a series of figures on the rice export market is continuing to have a strong impact on the export price of rice. Statistics from the Vietnam Food Association (VFA) showed that, on the morning of August 28, the price of Vietnam’s 5% broken rice remained at USD638 per ton, while 25% broken rice was traded at USD623 per ton. On the afternoon of August 28, the price of 5% broken rice for export of all three countries, Vietnam, Thailand and Pakistan, simultaneously increased. In which, Vietnamese rice increased by USD5 at USD643 per ton; Thai rice increased by USD2 per ton to USD630 per ton; and similar products of Pakistan increased by USD10 per ton, reaching USD608 per ton.

Accordingly, the price of Vietnam's 5% broken rice exports were higher than similar products of Thailand and Pakistan by USD13 per ton and USD35 per ton, respectively. This was also the highest level in 15 years.

With 25% broken rice, there was a mixed increase and decrease in the session of 28/8. Specifically, this type of rice of Vietnam increased by 5 USD/ton to 628 USD/ton; Thai rice decreased by 2 USD/ton to 563 USD/ton; Pakistani rice also increased by 5 USD to reach 533 USD, but was still lower than the same product of our country at 95 USD/ton.

According to the Ministry of Agriculture and Rural Development, the amount of rice used to ensure food security of 100 million people and other domestic consumption needs (for processing of animal feed, stockpiling in the population, national reserve and seedlings) is at about 29.5 million tons of paddy per year. Therefore, in 2023, Vietnam has about 13.5 million tons of paddy (equivalent to 7-8 million tons of rice) for export./.

Compiled by BTA