Domestic rice prices fall, Vietnam's export rice prices still lead

Thứ Hai, 7/6/2021| 18:15

Although domestic rice prices fell due to ample supply, Vietnam's export prices remained the highest among rice exporting countries.

Domestic rice prices fall, Vietnam's export rice prices still leadillustrating figure

 

According to the Vietnam Food Association, although the price of rice in the domestic market decreased due to abundant supply, in the world market, the export price of white rice continued to be stable. Currently, 5% broken rice is still offered for sale at $488-492/ton; 25% broken rice 463-467 USD/ton; 100% rice price 418-422 USD/ton; Jasmine 563-567 USD/ton.

Compared with the world's asking price, Vietnam's export rice price continues to be at the highest level in the world, of which 5% broken rice is about $100/ton higher than Indian rice and higher than Burmese rice. 70 USD/ton, 45 USD/ton higher than Pakistani rice, 33 USD/ton higher than Thailand rice.

"The same type of rice 5% broken, but need to see what kind of rice variety. Vietnam's rice price is high but still attractive to consumers in other countries because of its good quality" - Mr. Ly Thai Hung - Director of Co., Ltd. Hung Cuc said. Although export prices are stable, summer-autumn rice prices are on a downward trend due to abundant supply. Mr. Pham Thai Binh - General Director of Trung An High-Tech Agriculture Joint Stock Company - information: The summer-autumn crop in the Mekong Delta is at harvest time so the rice price is selling at an average of 5,500 VND//day, kg of fresh rice in the field.

Mr. Binh also said that it is likely that rice prices will continue to decrease when the harvest season is in full swing, because according to the harvest schedule, the summer-autumn crop will be harvested around the end of this June, lasting until the end of July 2021. In places where sowing is late, it may not be until August to harvest. Currently, the summer-autumn rice price is down by about 1,000 VND compared to the previous crop but this is also a good price for farmers. "Although the price of rice has decreased, farmers still benefit from the fact that Vietnamese enterprises sign to sell rice at the highest price," said Mr. Pham Thai Binh.

Although export prices are stable, summer-autumn rice prices are on a downward trend due to abundant supply. Mr. Pham Thai Binh - General Director of Trung An High-Tech Agriculture Joint Stock Company - information: The summer-autumn crop in the Mekong Delta is at harvest time, so the rice price is selling at an average of 5,500 VND//day, kg of fresh rice in the field.

Mr. Binh also said that it is likely that rice will continue to decrease when the harvest season is in full swing, because according to the harvest schedule, the summer-autumn crop will be around the end of this June, lasting until the end of July 2021. In places where sowing is late, it may not be until August to harvest. Currently, the summer-autumn rice price is down by about 1,000 VND compared to the previous crop, but this is also a good price for farmers.

"Although the price of rice has decreased, farmers still benefit from the fact that Vietnamese enterprises sign to sell rice at the highest price," said Mr. Pham Thai Binh.

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