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Vietnam’s rice prices climb to world’s highest

14/8/20
Vietnam’s ST25 rice - the best rice in the world

The prices of Vietnam’s exported rice have been rising since mid-July, outstripping Thai rice to record the highest prices in the world, according to the Vietnam Food Association (VFA).

Data as of August 14 showed Vietnam’s 5% broken rice is traded at US$493-497 per tonne while the same rice from Thailand and Pakistan is listed at US$473-477 and US$423-427 respectively.

Indian rice is even lower at US$378-382 per tonne.

This is the first time in the past 30 years that Vietnam’s rice prices have surpassed Thai rice, said Nguyen Van Don, Director of the Tien Giang Province-based rice exporter Viet Hung.

In addition to 5% broken rice, other Vietnamese rice varieties are also selling at higher prices on the global market.

The DT8 variety is being exported at US$570 per tonne, compared with last year’s peak of US$540 while the export prices of the 5451 jasmine rice have also increased by US$40-50 from the previous crop’s highest level of US$500 per tonne.

Many rice exporters stated that Vietnamese rice is being bought at higher prices thanks to its improved quality and the availability of supply and quick delivery amid the coronavirus pandemic also make Vietnamese rice a favourite of foreign buyers.

According to the Ministry of Agriculture and Rural Development, Vietnam exported 3.9 million tonnes in the first seven months of 2020, earning US$1.9 billion, up 10.9% from the previous year.

The Philippines is currently the largest purchaser of Vietnamese rice, accounting for 37% of Vietnam’s total rice exports.

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All comments [ 20 ]


Voice of people 14/8/20 21:29

Thanks to improved quality and higher demand, Vietnam’s rice export prices are set to be higher than the same period of last year

Vietnam Love 14/8/20 21:31

This is very good news for millions of Vietnamese farmers

Socialist Society 14/8/20 21:35

Vietnam’s rice export is very important to stabilize the world’s food security

yobro yobro 14/8/20 21:36

Vietnamese rice image is gradually improving- less pesticides on rice and the advent of the rice strain ST25: “The best rice of the world in 2019”

Me Too! 14/8/20 21:37

I really want to taste the ST25, the best rice of the world

Red Star 14/8/20 21:37

Vietnam tended to export more high-quality rice as the premium rice accounted for over 60% of total exports, much higher than 10% ten years ago

For A Peace World 14/8/20 21:39

Thai rice is also expected to challenge Vietnam’s exports.

John Smith 14/8/20 21:42

Rice has long been a strategic crop for Vietnam’s food security. From being a country that suffered rice shortages, it started exporting the grain in 1989, and has been one of the world’s largest producers and exporters for years now.

Gentle Moon 14/8/20 21:42

Vietnam grows around 26 million tonnes a year, of which it exports around six million tonnes.

LawrenceSamuels 14/8/20 21:43

after mainly exporting low-quality rice for a long time, the country saw demand for its fragrant rice pick up strongly, with fragrant and other high-quality varieties now accounting for more than half of all exports.

Duncan 14/8/20 21:44

Vietnamese rice has high quality but has not impressed global consumers. So its prices are usually low compared to other countries

Enda Thompson 14/8/20 21:45

To get the top, however, requires acquiring greater prestige in global markets, and this means developing brands for Vietnamese rice.

Egan 14/8/20 21:46

Having a national brand name is an idea whose time has well and truly come.

Herewecome 14/8/20 21:48

Vietnam has many good rice varieties, some better than the high-quality varieties of its rivals.

Robinson Jones 14/8/20 21:49

It is necessary to develop rice brands, including national brands, local brands and companies’ brands

Jacky Thomas 14/8/20 21:50

Vietnam is offering high-quality products to win global consumers’ trust

Kevin Evans 14/8/20 21:51

It is necessary for Vietnam to develop rice brands and enhance marketing programmes to acquaint global consumers with its grains and their quality

Allforcountry 14/8/20 21:51

Every brand should be built on a high-quality foundation and recognised and remembered by consumers because of its tightly controlled quality

Swift Hoodie 14/8/20 21:53

with rising incomes, consumers are willing to pay higher prices for branded or high-quality rice,

Wilson Pit 14/8/20 21:54

The domestic market should be the place to test quality, brands and origins before expanding globall

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