The Import-Export Department (Ministry of Industry and Trade) has just updated the List of traders granted Certificates of eligibility for rice export business until October 3, 2024.
Accordingly, the whole country has a total of 163 traders in 23 provinces and cities qualified to do rice export business.
According to the list, Ho Chi Minh City leads with 38 traders; followed by Can Tho City with 35 traders; Long An with 22 traders; the provinces: An Giang, Dong Thap each have 14 traders; Hanoi City has 10 traders; the provinces: Thai Binh, Tien Giang each have 4 traders; Kien Giang has 3 traders; the localities: Hung Yen, Nghe An, Tay Ninh, Soc Trang, Thua Thien Hue each have 2 traders; the localities: Ha Nam, Thanh Hoa, Ha Tinh, Da Nang, Khanh Hoa, Binh Dinh, Ca Mau, Bac Lieu, Hau Giang each have 1 trader qualified to do rice export business.
Citing data from the Ministry of Agriculture and Rural Development, the Import-Export Department said: In the first 9 months of 2024, rice exports are estimated to reach 7.01 million tons, up 9.2% over the same period last year, equivalent to a turnover of 4.37 billion USD, up 23.5% over the same period last year. Vietnam's rice export prices continue to be positive, with export prices in the first 9 months increasing by 13.1% over the same period last year.
Since the beginning of the year, due to limited supply from some rice exporting countries, while the quality of Vietnamese rice has been increasingly improved, meeting the demanding needs of the world market. In addition, the demand for rice imports from traditional customers of Vietnam such as the Philippines, Indonesia, Malaysia... has remained high. These are factors supporting the output and export price of Vietnamese rice this year to increase quite a bit.
However, recently, India has continuously loosened its rice export regulations, which are expected to impact the world rice market. Specifically, according to the rice market website SS Rice News, this country has reduced the export tax on parboiled rice, brown rice and raw rice to 10%, effective from September 27, 2024. Immediately after that, the world's leading rice exporting country issued a decision to lift the ban on exporting Non-basmati white rice, along with a condition that the floor price for exporting this item is 490 USD/ton, effective from September 28, 2024.
According to experts, although the supply of non-basmati white rice segment that India has lifted the ban on is not much, the country's return to the market will put downward pressure on prices of 5% and 25% broken rice. Therefore, rice enterprises and farmers need to coordinate and link in production and consumption, ensuring supply to maintain the initiative in the context of the world rice market that may fluctuate due to increased supply.
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