Vietnamese rice export prices reached the highest level among the offers to all the world's largest exporters of this cereal, reported Vietnam News Agency with reference to the Vietnam Food Association.
According to his data, 5% brown rice is currently selling at USD 575/ton, which is USD 14 and USD 34 higher than similar products in Thailand and Pakistan respectively. The price of Vietnamese 25% broken rice rose to USD 539/ton, USD 27 and USD 22 higher than the prices of similar products of Thai and Pakistani origin. Compared to other leading rice-exporting countries, Vietnamese rice now commands the highest prices, the association noted.
According to the statistics of the Vietnam Food Association, in the first seven months of 2024, Vietnam exported almost 5.3 million tons of rice worth about 3.34 billion USD, although the export volume only increased by 8.3%, the value increased significantly by 27.7% compared to the same period in 2023.
The country's General Administration of Customs notes that Vietnamese rice prices have increased significantly in many overseas markets in the first half of 2024. The average export price of rice has increased by more than 18% compared to the same period of 2023
According to expert estimates, thanks to the high export values achieved in the first half of the year, Vietnam may exceed the planned rice export volume of 7.6 million tons for the whole of 2024. Ministry of Agriculture and Development of Rural Areas predicts that in 2024, Vietnam will supply up to 8 million tons of rice to foreign markets, and its export earnings will exceed USD 5 billion.
Agricultural products - rice, seafood, coffee, rubber, tea, cashew and pepper - dominate the structure of Vietnamese exports. Vietnam is the second largest exporter of rice in the world after India. For many years, Vietnam remained the largest exporter of cashew nuts and cashew products in the world. In addition, the republic has long held the world leadership in the export of black pepper and is also the second largest exporter of coffee after Brazil, while remaining the main producer of Robusta beans on the planet.