India’s lifting of the export ban has not had a major impact on Vietnamese rice. With its quality assurance, Vietnamese rice has made more steady and sustainable progress in the export market.
Vietnamese rice continues to yield sweet fruit
Job India The opening of warehouses has caused rice prices in the world market to plummet. Meanwhile, in Vietnam, the price of common rice has stabilized after a few days of decline, while the price of special fragrant rice, ST24 and ST25, continues to increase, currently reaching a record high of 1,300 USD/ton, but businesses still do not have enough rice to export.
According to businesses In terms of rice exports, the price of ST rice, especially ST25, has increased by 5,000 VND/kg compared to last month and is at a very high level. The current price of raw rice is at 25,000 - 26,000 VND/kg. The reason is that the supply is scarce while the market demand is very high, both domestically and for export.
If at the beginning of this year, the export price of ST25 rice was only about 750 - 800 USD/ton, it has now reached 1,300 USD/ton. This is an unprecedented high price in the export history of the Vietnamese rice industry. Not only exports but also domestic consumption is very strong, the price of high-quality rice is about 35,000 VND/kg.
Besides the ST line, Vietnam's high-quality fragrant rice products are also being consumed strongly in the markets of Hong Kong, Singapore, the Philippines, the Middle East and some African countries at good prices.
According to Mr. Pham Thai Binh - Chairman of the Board of Directors of Trung An High-Tech Agriculture Joint Stock Company, the price of ST rice is currently very high, commonly around the 1,000 USD/ton mark. The price of fragrant rice and high-quality rice is also from 600 - 700 USD/ton. These products are still exported well and are not affected by India's "open warehouse" order.
According to Mr. Nguyen Vinh Trong - Director of Viet Hung Company Limited (Tien Giang), when there was information about India's return to the world rice market, the price of Vietnam's popular white rice exports decreased by 5 - 10 USD/ton, the domestic price decreased by 100 - 200 VND/kg. However, the price of fragrant rice such as Jasmine and Dai Thom 8 remained stable due to low supply and high demand from markets such as the Philippines, Hong Kong (China), and Africa.
Not only stable exports, according to information from the Trade Office of the Vietnamese Embassy in Japan, following the success of bringing ST25 - the first Vietnamese rice brand to conquer the Japanese market in 2022, a second Vietnamese rice brand, A AN, has officially entered this most demanding market in the world.
Accordingly, from the beginning of October 2024, Tan Long Group successfully exported 1,000 tons of high-quality JAPONICA rice under the A AN brand to the Japanese market - the most demanding market in the world.
Charge d'Affaires of the Vietnamese Embassy in Japan Nguyen Duc Minh said that Vietnamese rice has begun to receive high appreciation from demanding markets such as the US, Europe, South Korea, and Japan. These markets have increased Vietnam's rice import volume year by year.
Launch event rice brand The second Vietnamese rice variety in Japan shows that Tan Long is constantly striving to improve rice quality. In the coming time, Tan Long strives to not only stop at ST25, Japonica but also many other rice lines under the A AN brand - a Vietnamese domestic brand that will gradually conquer demanding markets such as Japan, Korea, the US, and Europe.
Around 2015, in the rice variety structure of Vietnam, the area planted with IR50404 rice still accounted for a large proportion thanks to its high yield and good resistance to pests and diseases. However, because it was considered low-quality rice, the price of Vietnamese rice at that time was still one level lower than that of Thai rice. The change occurred when Ministry of Agriculture and Rural Development Recommend localities to increase the area of high-quality rice cultivation.
ST25 rice is grown in large quantities during the Fall-Winter crop. In addition to the brand and quality story, this year, due to unfavorable weather conditions, the amount of rice harvested was not enough to supply according to the plan, and the price of rice increased continuously. Since the beginning of September, ST rice has suddenly increased sharply in price, especially Ong Cua ST25 rice which increased by 3,500 VND/kg.
Continue to increase quality, not quantity.
According to data from the Ministry of Agriculture and Rural Development, in just 9 months, rice export Vietnam's rice export volume exceeded 7 million tons, up 9% over the same period in 2023; turnover reached nearly 4.4 billion USD, up 23.5% over the same period last year. The average rice export price reached 624 USD/ton, up 13%.
In terms of volume and value, these are both higher than the average of many years and are currently only lower than the record figure of 2023. The amount of rice harvested in Vietnam in the past 9 months is about 33 million tons out of the total estimated output for the whole year of 2024 of 43 million tons.
Mr. Nguyen Nhu Cuong - Director of the Department of Crop Production (Ministry of Agriculture and Rural Development) - said that the world's rice demand remains high, and India's rice exports are concentrated in different segments than Vietnamese rice, so the impact is not great.
"The supply of rice for export is not much, mainly the output of the Autumn-Winter crop and a little of the early Winter-Spring crop. Before India announced the ban on rice exports, Vietnam still produced over 43 million tons of paddy annually and exported over 7 million tons of rice at stable prices," said Mr. Nguyen Nhu Cuong.
Mr. Nguyen Nhu Cuong also affirmed his view on industry development. rice In the coming years, production will be based on plan, depending on market demand and ensuring the rights of farmers and businesses in a sustainable value chain, not chasing export quantity to achieve results.
Vietnam continues to hold a high position in the list of countries rice export of the world with an expected output of 43 million tons in 2024,... Notably, Southeast Asia has 4 countries among the world's top 10 rice exporting countries. In this list, Thailand ranks 2nd with 16.5 million tons, followed by Vietnam, ranked third in the world with 7.6 million tons.
In 2022, 100 tons of Vietnamese rice will be officially sold for the first time in supermarkets and stores in the Japanese market. With rice brand Vietnam's second entry into the Japanese market has continued to affirm Vietnam's determination to improve the quality of national agricultural products, confidently conquering demanding markets. This is considered an optimistic signal not only for Tan Long Group, but also for the rice export industry in particular and agricultural products Vietnam in general.
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