According to data from the General Department of Customs, Vietnam's total rice export volume in the first 10 months of 2024 reached nearly 7.8 million tons, with a turnover of more than 4.86 billion USD. Accordingly, rice exports increased by 10.1% in volume and increased sharply by 23.5% in value compared to the same period in 2023.

The average export price of rice in the first 10 months reached 626 USD/ton, up 12% over the same period last year.

In the world rice market, India has been selling off its stocks after more than a year of imposing an export ban, causing the price of this food to plummet. However, the price of Vietnamese rice remains high and remains the most expensive among the world's largest exporting countries.

According to data from the Vietnam Food Association, on November 15, the export price of 5% broken rice from Vietnam was at 517 USD/ton, 35 USD/ton higher than the same type from Thailand, 69 USD/ton higher than Indian and 66 USD/ton higher than Pakistani products, respectively.

Similarly, our country's 25% broken rice is also 38 USD/ton higher than the same type of Thai rice, 54 USD/ton higher than Indian rice and 75 USD/ton higher than Pakistani rice.

Notably, at current prices, Vietnam's low-quality 25% broken rice is even more expensive than Thailand's, India's and Pakistan's high-quality 5% broken rice.

The director of a high-end rice enterprise in our country said that 5% broken rice, 25% broken rice or 50% broken rice is the specification of the number of broken rice in the rice. For example, with 5% broken rice, on average 100 grains of rice have a maximum of 5 broken grains.

The percentage of broken rice is a way to determine the specifications of rice products in the purchase and sale contracts, exchanges and transactions in the market. Currently on the market, 5% broken rice is almost the highest standard that importers require.

Therefore, it is quite rare for Vietnam's 25% broken rice to be more expensive than its competitors' 5% broken rice, he commented.

According to the leader of the Vietnam Food Association, the average export price of Vietnamese rice could reach its highest level, over 600 USD/ton. This helps rice prices in the domestic market remain high and quite stable.

It is forecasted that this year, Vietnam's rice export volume will continue to exceed 8 million tons, with an expected value of more than 5 billion USD, the highest ever.

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