This country unexpectedly became the largest customer of Vietnamese rice in September. In just one month, Indonesia spent 101.4 million USD to buy more than 166 thousand tons of Vietnamese rice, 53 times more than the same period last year.
Preliminary statistics from the General Department of Customs show that in September this year, Vietnam exported more than 605,400 tons of rice, earning 377.9 million USD, a slight increase of 3.8% in volume but a sharp increase of 37.3% in value compared to the same period last year.
Notably, in September 2023, our country exported 166 thousand tons of rice to Indonesia, reaching 101.4 million USD, 53 times higher than in September 2022. Meanwhile, the export value to the Philippines and China was 62.7 million USD and 43.7 million USD, respectively.
Accordingly, Indonesia officially surpassed the Philippines and China to become the largest customer of Vietnamese rice last September.
Indonesia spent 101.4 million USD to buy Vietnamese rice in just 1 month (Photo: Hoang Ha)
By the end of September 2023, our country exported nearly 6.42 million tons of rice, worth 3.54 billion USD. Compared to the same period last year, rice exports increased by 19.5% in volume and 35.9% in value.
In terms of export markets, the Philippines remains the largest customer of Vietnamese rice. In the first 9 months of 2023, rice exports to this market reached 1.29 billion USD, up 13% over the same period in 2022. China is Vietnam's second largest rice export market with a turnover of 495.8 million USD, up sharply by 55.2%.
Indonesia ranked third with rice exports to this market reaching 462.6 million USD, up 1,796% over the same period last year. In addition, Vietnam's rice exports to Türkiye and Chile saw a sharp increase, respectively 10,608% and 2,291%.
Vietnamese rice prices go against competitors
According to information from the Ministry of Agriculture and Rural Development, the average rice export price of our country in the first 9 months of 2023 reached 553 USD/ton, an increase of 14% over the same period in 2022, at times reaching nearly 650 USD/ton.
Data from the Vietnam Food Association (VFA) shows that in recent days, Vietnamese rice prices have been high and trending in the opposite direction compared to competitors such as Thailand and Pakistan.
On October 10, Thailand's 5% and 25% broken rice exports both decreased by 3 USD/ton, down to 578 USD/ton and 530 USD/ton; the same types of rice from Pakistan decreased sharply to 548 USD/ton and 468 USD/ton.
Meanwhile, Vietnam's 5% and 25% broken rice exports edged up slightly, to $618/ton and $598/ton, respectively.
Due to the opposite trend of increase and decrease, Vietnamese rice is still the most expensive in the world, while the gap with Thai and Pakistani rice is widening. Specifically, Vietnamese 5% broken rice is priced 40 USD/ton higher than the same type of Thai rice, 70 USD/ton higher than Pakistani rice; Vietnamese 25% broken rice is also 68 USD/ton higher than Thai rice, 130 USD/ton higher than Pakistani rice.
In the domestic market, the latest rice price update of the week (September 28 - October 5) by VFA also shows that rice prices have increased by 8-193 VND/kg depending on the type. Of which, regular rice in the field has an average price of 7,850 VND/kg, regular rice in the warehouse is 9,017 VND/kg, grade 1 white rice is 14,263 VND/kg, 5% broken rice is 14,250 VND/kg, 15% broken rice is 14,058 VND/kg, 25% broken rice is 13,808 VND/kg...
In the rice granary of the Mekong Delta, farmers are harvesting Autumn-Winter rice and selling it at a price of 8,000-8,600 VND/kg right in the field.
A business in the industry commented that in the last months of the year, our country has many opportunities to export rice to traditional markets such as the Philippines, China and Indonesia...
Accordingly, the Philippines - the country that imports the most Vietnamese rice - has increased its purchases again after nearly a month of suspension due to the order to impose a price ceiling on domestic rice.
Meanwhile, Indonesia's National Logistics Agency (Bulog) has just announced a tender for 500,000 tons of imported rice, including 300,000 tons for supply from Vietnam, Thailand, Myanmar and 200,000 tons from Pakistan.
In mid-September, a Vietnamese enterprise also won a bid for 50,000 tons of rice from Indonesia at a price of 640-650 USD/ton.
Meanwhile, the Chinese market is expected to increase purchases of sticky rice to serve the year-end holiday demand.
At the 45th ASEAN Ministers on Agriculture and Forestry Meeting held on October 4 in Kuala Lumpur (Malaysia), ASEAN ministers affirmed the priority of providing food to member countries and considered imposing a ceiling when global rice prices skyrocketed.
According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, due to the increase in the Autumn-Winter rice area, this year our country can export about 7.8 million tons of rice. That means in the remaining 3 months of 2023, our country will have about 1.38 million tons of rice of all kinds for export.
Vietnamnet.vn
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