The companies assume that rice exports will achieve stable growth until the end of the year. Picture: Hung Phu.
For the past few days, the price of rice in the Mekong Delta has been stable without major changes. On September 4, in Mekong Delta, some OM rice is priced at 5,500-6,000VND/kg, Dai Thom 8 rice is 5,800-6,000VND/kg, IR 504 dry rice is 6,500VND/kg. Meanwhile, 5% broken rice for export from Vietnam is offered at USD 393/ton. Thailand’s price of broken rice at 5% fell slightly last week to $415-416/ton from $416-420/ton.
According to the Vietnam Food Association (VFA), from the beginning of the year to August 15, 2022, rice exports reached 4.4 million tons, representing a 19.6% increase in production over the same period. The export turnover reached 2.1 billion USD, but the average value decreased by about 50 USD/ton. Although the volume of rice exports increased significantly, the selling price was not high. Rice farmers have low efficiency due to the high cost of agricultural inputs.
Vietnam’s rice exports are expected to reach 6.3-6.5 million tons in 2022. The companies expect rice exports to show stable growth from now until the end of the year. The rice market will grow due to increased demand.