According to the latest statistics from the General Department of Customs (Ministry of Finance), rice exports in the first half of February (from February 1 to 15) reached 150,944 tons, worth 104.33 million USD. Accumulated from the beginning of the year to February 15, rice exports reached 663,209 tons, worth 466.6 million USD. The average export price of rice was 703.5 USD/ton.
Rice exports earned nearly half a billion USD at the beginning of the year. Photo: DT
Compared to the same period in 2023, the volume of exported rice increased by 14.4% (an increase of more than 83,000 tons); meanwhile, the export value increased by 53% (an increase of nearly 161 million USD).
The average rice export price is 703.5 USD/ton, an increase of 33.65% over the same period in 2023 (only about 526 USD/ton).
Previously, in 2023, rice exports also brought in quite impressive numbers with 8.1 million tons and 4.68 billion USD, up 14.4% and 35.3% respectively over the previous year.
In 2023, Vietnam's largest rice export market is ASEAN, accounting for 61% of the country's total rice exports with 4.9 million tons, up 24% over the previous year. In addition, Vietnamese rice is also exported to other markets such as China, Ghana, etc.
Not remaining at high prices for long, the export price of rice in recent days from Vietnam and other countries has decreased to about 600 USD/ton. In addition, the price of raw rice in the Mekong Delta has also decreased by more than 1,000 VND/kg in the past week.
Specifically, according to the Vietnam Food Association (VFA), compared to February 21, on February 22, the export price of 5% broken rice reached 690 USD/ton, down 19 USD/ton; the price of 25% broken rice reached 584 USD/ton, down 20 USD/ton; the price of 100% broken rice remained at 508 USD/ton.
The prices of 5% and 25% broken rice from Vietnam are slightly lower than those of the same type of Thai rice. Meanwhile, the price of 100% broken rice is 25 USD/ton higher than the price of the same type of Thai rice.
Some experts believe that the main reason for the decrease in rice prices is psychological. Rice importers know that Vietnam is entering the biggest rice harvest of the year, so they are not rushing to buy but waiting for a good price. This has been normal in recent years, but this year, because the price of Vietnamese rice is quite high, the decrease is more dramatic.
In addition, one of the major rice buyers, Indonesia, has just signed a 500,000-ton contract with Vietnam, Myanmar and Pakistan at the end of January. In addition, recent developments before the election in India have also made importers reluctant to "close the deal".
It is forecasted that the downward trend in rice prices will not last long. Export rice prices will continue to fluctuate in an upward direction in 2024, due to tight supply.
Regarding rice exports this year, Mr. Nguyen Nhu Cuong, Director of the Department of Crop Production (Ministry of Agriculture and Rural Development), said that although the rice area tends to decrease, the production plan for 2024, the crop sector still aims to maintain the rice planting area at 7.1 million hectares, the rice output in the year reaches over 43 million tons. Vietnam still ensures the export of 8 million tons of rice or more./.
According to Thanh Nien
Source: https://thanhnien.vn/gia-tang-hon-33-xuat-khau-gao-thu-gan-nua-ti-usd-dip-dau-nam-185240224162656592.htm
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