Not only 5% broken rice but most types of Vietnamese rice surpassed Thailand by 15-65 USD per ton on August 28.
India banned the export of all types of regular rice from July 20, causing the world rice market to increase rapidly. Recently, on August 25, the world's largest rice exporting country continued to apply a 20% export tax on parboiled rice.
Speaking to VnExpress, Ms. Phan Mai Huong, co-founder of SSResource Media Pte.Ltd (Singapore), a unit specializing in providing information and analyzing the world rice market, said that Myanmar may limit the export of all types of rice next month. These moves are reducing the amount of rice exported from India and Myanmar, pushing export prices into a new increase.
At the end of the session on August 28, the export price of 5% broken rice from Vietnam continued to increase to 643 USD per ton, 13 USD per ton higher than that of Thai rice. This is also the highest level in the past 15 years.
While all types of Vietnamese rice have increased in the last 5 sessions, Thai rice has decreased. Meanwhile, Thai 25% broken rice fell to 563 USD per ton on August 28, 65 USD lower than Vietnamese rice. Similarly, Thai 100% broken rice fell to 459 USD per ton.
According to businesses, the reason why Vietnam’s rice export prices have skyrocketed is because of the large real demand from the world market. Meanwhile, domestic rice prices have been increasing continuously in recent days, forcing exporting businesses to offer high prices to be able to close export contracts without incurring losses.
"Export prices have increased, so domestic businesses dare to sign new orders," said the director of a rice export business in An Giang.
Currently, the purchase price of rice in the domestic market is expensive. The price of all types of rice has increased to nearly 8,000 VND per kilogram. At this price, if converted to exported rice, it is equivalent to 670-680 USD per ton.
Rice stall at Ba Chieu market, Binh Thanh district (HCMC). Photo: Linh Dan
Previously, Mr. Do Ha Nam, Vice President of the Vietnam Food Association, said that the Philippines, Indonesia and other countries importing 5% broken rice from Vietnam are all having to buy at high prices. There was a time when Vietnamese businesses offered a price of 680-700 USD per ton but they still did not accept to close the deal. This shows that the world market is short of goods but the export price of Vietnamese rice is unlikely to reach 800 USD per ton.
A survey of the domestic rice market shows that rice prices continue to remain high. Specifically, IR 504 rice is at 7,750-7,900 VND per kg, OM 5451 is at 7,750-8,000 VND per kg, OM 18 rice is at 7,800-8,200 VND per kg. Rice prices at retail stores also increased by 500 VND per kg to 17,500 VND for regular sticky rice and to 22,000-25,000 VND for branded sticky rice.
Director of the Department of Crop Production of the Ministry of Agriculture and Rural Development Nguyen Nhu Cuong said that although the Summer-Autumn crop is almost over, the Autumn-Winter crop will also be harvested early, so this year's rice output will certainly reach the target of 43 million tons. The world is lacking supply, but domestic goods are always guaranteed to be sufficient so that domestic prices do not skyrocket like in 2008 - when world rice prices were high.
vnexpress.net
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