Export price of Vietnam’s rice from June 2020 to present After the Government of India officially issued a ban on rice exports, the price of 5% broken rice and 25% broken rice of our country has continuously increased sharply day by day. In just half a month, key export rice products have increased to nearly 100 USD/ton. By the end of July, Vietnam exported about 4.83 million tons of rice, worth 2.58 billion USD, up 18.7% in volume and 29.6% in value over the same period last year. In terms of import structure, the Philippines continues to be the largest rice buyer of our country, accounting for 40.1% of total exports in the first half of the year. It is followed by China, which imports more than 16% and Indonesia accounts for 11.6% of total exports. Although the European market only reached a small percentage of about 2%, it still grew strongly. The African market even increased by nearly 5% over the same period last year, accounting for 15% of total rice exports.

Domestic and export rice prices have continuously increased in recent days

In the domestic market, the price of rice tends to increase day by day. The price of rice on August 7, 2023 in An Giang, according to the update of the Department of Agriculture and Rural Development of An Giang province at 10:30 am on August 7, 2023, the price of fresh An Giang sticky rice is at 6,300 – 6,600 VND/kg; Long An sticky rice (fresh) at 6,700 – 7,000 VND/kg, increasing by 100 VND/kg; AG (dry) sticky rice at 7,400 – 7,600 VND/kg; Long An sticky rice (dry) costs 7,700 – 7,900 VND/kg; IR 50404 rice reached 6,900 – 7,250 VND/kg fresh rice, increased 150 VND/kg; Dai Thom 8 rice reached 7,000-7,300 VND/kg, increasing by 100 VND/kg; OM 5451 rice reached 7,100-7,400 VND/kg, increased by 100 VND/kg; OM 18 rice reached 7,500-7,800 VND/kg, an increase of 300 VND/kg…

The price of glutinous rice is 14,000 – 16,000 VND/kg; the price of rice usually reaches 11,500 – 12,500 VND/kg; Nang Nhen rice reached 23,000 VND/kg; long grain fragrant rice reaches 18,000 – 19,000 VND/kg; Jasmine fragrant rice reached 14,000 – 15,000 VND/kg; Huong Lai rice 19,000 VND/kg; common white rice 14,500 VND/kg…

Meanwhile, rice prices in some localities such as Soc Trang, Hau Giang, Tien Giang, Kien Giang, Can Tho, rice prices continued to increase. Specifically, in Soc Trang, the price of Dai Thom 8 rice was 8,100 VND/kg, an increase of 200 VND/kg; RVT was 7,800 VND/kg, also increased by 200 VND/kg; OM 5451 increased by 100 VND/kg to 7,800 VND/kg.

Rice prices in Hau Giang also increased significantly such as: IR 50404 to 8,000 VND/kg, up 400 VND/kg; RVT is 8,400 VND/kg, an increase of 100 VND/kg; OM 18 is 8,500 VND/kg, an increase of 600 VND/kg.

Rice prices in Tien Giang such as: IR 50404 at 7,200 VND/kg, Jasmine rice at 7,200 VND/kg; OC10 alone increased by 200 VND/kg to 7,200 VND/kg.

Rice prices in Kien Giang also increased in many varieties such as: IR 50404 at 6,600 VND/kg, up 100 VND/kg; OM 5451 is 6,900 VND/kg, an increase of 200 VND/kg; Jasmine at 7,100 VND/kg, up 100 VND/kg

World food security threatened?

According to MXV, the world is witnessing an alarming situation about threats to global food security. Extreme weather caused by El Nino and Russia’s withdrawal from the agreement to export grain through the Black Sea have exacerbated the problem of food price inflation.

Concerns are heightened when India, the world’s largest rice exporter, has implemented a ban on exports of non-basmati white rice, which accounts for about a quarter of the country’s production. Previously, it was estimated that India could export 20-22 million tons of rice per year without affecting domestic food security. However, with the situation of high demand, policymakers forecast that the actual number could reach 30 million tons if restrictive policies are not applied. Recently, Mr. Ramesh Chand, member of the Indian Policy Committee, said that the country will only review the ban on rice exports once world demand declines.

Not only from the supply, the concern about food security is also reflected in the import support policies of the countries. The Philippines may extend the reduction of import duties on rice beyond 2023, the country’s finance minister said. Supply-side challenges in Vietnam, the Philippines’ largest rice supplier, and the impact of an El Nino pattern on the domestic harvest will continue to increase food price inflationary pressures.

To firmly ensure national food security in all situations In the domestic market, the high price of export rice also continuously promotes domestic rice prices. Even in some localities, there has been a phenomenon of buying rice and rice massively, causing local supply-demand imbalance, pushing up domestic rice and rice prices unreasonably.

In view of the current situation, recently, the Prime Minister issued Directive No. 24/CT-TTg on firmly ensuring national food security and promoting sustainable rice production and export in the current period. . Accordingly, the Prime Minister requested the planning of large-scale, high-quality commodity rice production areas, ensuring the area of ​​specialized rice cultivation. Monitor the weather situation, epidemics, adjust production, ensure the production target of over 43 million tons of rice/year; implementing a project on sustainable development of 1 million hectares of high-quality rice. Closely monitor rice market developments, produce according to each type and season of the year to balance rice and rice sources to serve domestic and export demand for rice and rice, and firmly ensure food security. country in all situations.

T&G Import Export Joint Stock Company

Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi

Hotline: 02473010868

Email: hrm@tginterjsc.com

Website: http://tgimportexport.com