Data from the Vietnam Food Association (VFA) shows that on August 28, the export price of 5% broken rice from all three countries, Vietnam, Thailand and Pakistan, increased simultaneously. Of which, Vietnamese rice increased by 5 USD/ton compared to August 25, reaching 643 USD/ton; Thai rice increased by 2 USD/ton to 630 USD/ton; and the same type of rice from Pakistan increased by 10 USD/ton, reaching 608 USD/ton.

Accordingly, Vietnam's 5% broken rice exports are currently 13 USD/ton and 35 USD/ton higher than the same type of rice from Thailand and Pakistan, respectively.

The price of 25% broken rice fluctuated in the trading session on August 28. Specifically, this type of Vietnamese rice increased by 5 USD/ton to 628 USD/ton; Thai rice decreased by 2 USD/ton to 563 USD/ton; Pakistani rice also increased by 5 USD to 533 USD, but was still 95 USD/ton lower than the same type of Vietnamese rice.

In the domestic market, after a slight decrease, in the week from August 17-25 (the latest update from VFA), rice prices increased again. Of which, regular rice in warehouses had the lowest increase of 133 VND/kg, while brown rice grade 1 had the highest increase of 313 VND/kg.

Specifically, the average price of regular rice in the field is 7,895 VND/kg, regular rice in the warehouse is 9,217 VND/kg, brown rice grade 1 is 12,704 VND/kg, white rice grade 1 is 14,838 VND/kg, 5% broken rice is 14,707 VND/kg, 15% broken rice is 14,442 VND/kg, 25% broken rice is 14,142 VND/kg...

VFA also said that from August 1-25, 52 ships entered Ho Chi Minh City port to queue to buy rice with an expected quantity of 483,600 tons of various types.

According to data from the Department of Crop Production (Ministry of Agriculture and Rural Development), as of August 25, the 2023 Summer-Autumn crop in the Mekong Delta harvested 1.017 million hectares out of a total 1.482 million hectares of sown area, with an estimated yield of 6.034 million tons of rice. The 2023 Autumn-Winter crop has sown 490,000/700,000 hectares of planned area, with 25,000 hectares harvested.

Recently, speaking with PV.VietNamNet , Mr. Pham Thai Binh - Chairman of the Board of Directors of Trung An High-Tech Agriculture Joint Stock Company - said that the purchase price of rice in the domestic market is currently higher than the current export price.

According to him, the price of all types of rice has increased by nearly VND8,000/kg. At this price, if converted to exported rice, it is equivalent to 670-680 USD/ton, while the export price of 5% broken rice is at 638 USD/ton (August 25). If buying and exporting rice at the present time, businesses will suffer a loss of about 30-40 USD/ton.

Therefore, most businesses have temporarily stopped buying rice, delayed delivery schedules to import partners, and negotiated to adjust prices, but were mostly not approved.

For small orders and traditional customers, businesses are proposing to extend delivery time until the winter-spring crop to harmonize both sides, Mr. Binh said.

Vietnamnet.vn