Data from the Vietnam Food Association (VFA) shows that after several sessions of decline from the peak of 643 USD/ton (set on August 31), in recent days, the export price of 5% broken rice from our country has been anchored at 613 USD/ton; 25% broken rice has also stabilized at 598 USD/ton.

In contrast to the stable and high trend of Vietnamese rice, the prices of competitors' rice continued to fall sharply. Specifically, after soaring to 651 USD/ton, 5% broken rice from Thailand turned around and plummeted, on October 4 to 586 USD/ton; 5% broken rice fell to 538 USD/ton.

Similarly, Pakistan's 5% broken rice and 25% broken rice also slid to $558/ton and $498/ton, respectively.

Among the world's largest rice exporting countries, Vietnamese rice is currently priced at the highest. The price of 5% broken rice from Vietnam is 29 USD/ton higher than that of the same type from Thailand and 55 USD/ton higher than that of Pakistan.

The price of 25% broken rice is also 60 USD/ton higher than the same type of Thai rice and 100 USD/ton higher than Pakistani rice.

According to the Ministry of Agriculture and Rural Development, by the end of September this year, Vietnam's rice exports were estimated to have earned 3.66 billion USD, up 40.4% over the same period last year. The average rice price reached 553 USD/ton, up 14% over the same period in 2022, at times reaching nearly 650 USD/ton.

Not only did the price hit the mark, our country's average rice yield reached 62.6 quintals/ha, an increase of 1.6 quintals/ha compared to last year. By the end of September, the harvested rice output was 33.6 million tons, an increase of 1.4%.

In the rice granary of the Mekong Delta, farmers are harvesting autumn-winter rice and selling it at 8,000-8,600 VND/kg right in the field. This crop, rice growers earn double the profit compared to the same period last year due to a good harvest and good price.

Rice experts say that Vietnam's rice export prices will remain high in the last months of the year because the global rice supply is still in short supply. In particular, the Philippines - the largest customer of Vietnamese rice - has lifted the rice price ceiling after 1 month of application, which also helps Vietnamese rice exports to this market more smoothly.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that rice export this year has become a bright spot for the agricultural sector. With current rice output, our country can export about 7.8 million tons of rice in 2023, with an expected turnover of over 4 billion USD.

Vietnamnet.vn