AsemconnectVietnam - Vietnam's rice export prices have reached the highest levels globally, surpassing those of Thailand, Pakistan, and other major exporters, the Vietnam Food Association (VFA) has announced.

Specifically, the country’s 5% broken rice is currently being traded at 575 USD per tonne, which is 14 USD and 34 USD higher per tonne than Thailand's and Pakistan’s, respectively. Additionally, the price of Vietnam's 25% broken rice has increased to 539 USD per tonne, exceeding those of similar products from the two countries by 27 USD and 22 USD per tonne, respectively.
Compared to other leading rice-exporting nations, Vietnam's rice now commands the highest prices. This marks a significant recovery and favourable conditions for the country’s related exports, especially against the background that in July, its export prices were lower than those of Thailand, Pakistan, and Myanmar.
The VFA statistics show that Vietnam shipped nearly 5.3 million tonnes of rice overseas for some 3.34 billion USD in the first seven months. While the export volume only increased by 8.3%, the value saw a significant surge of 27.7% compared to the same period last year.
The Ministry of Agriculture and Rural Development (MARD) forecasts that in the coming months, the demand for rice will rise across most countries, leading to a vibrant export market towards the end of the year. Indonesia recently announced it might import 4.5 million tonnes of the grain, up from the 3.6 million tonnes initially projected for 2024.
Rice exports to set record turnover of 5 billion USD in 2024
Insiders said that rice exports could bring in a record turnover of 5 billion USD this year if the pace of shipment is maintained like at present.
There is ample room for Vietnamese rice exports as demand in major rice importers such as the Philippines, Indonesia, China and Africa is huge.
Data of the Vietnam Customs showed that since the beginning of the year to mid-July, Vietnam shipped more than 4.8 million tonnes of rice, bringing home nearly 3.1 billion USD.
The average rice export price increased 12% compared to the same period last year, reaching 612 USD per tonnes.
The Ministry of Agriculture and Rural Development said that Vietnam’s unhusked rice output is expected to reach more than 43 million tonnes in 2024, which is enough to ensure domestic consumption and export demand of more than 8 million tonnes of husked rice
Mechanisms needed for rice industry to go circular
Special mechanisms and policies must be put in place to encourage investments in the processing of rice by-products, a bold step that helps deliver significant benefits to farmers while contributing to carbon footprint reduction, according to insiders.
The Ministry of Agriculture and Rural Development (MARD)’s Department of Crop Production said Vietnam produces some 44-45 million tonnes of rice every year, with around 45 million tonnes of straw, 8-9 million tonnes of husk and 4-4.5 million tonnes of bran. However, most of the by-products have not been fully tapped, causing wastefulness, and making it hard for the rice industry to concretise its circular economic development target.
Mekong Delta regional masterplan contributes to ensuring food security
The implementation of the Mekong Delta regional masterplan for 2021 – 2030, with a vision towards 2050, has helped shift the mindset about food security from developing agriculture based primarily on rice to a model of aquaculture - fruit - rice to increase value and improve production efficiency, Deputy Minister of Planning and Investment Tran Duy Dong has said.
Addressing a recent meeting of the coordinating council for the Mekong Delta region in Ca Mau, the official said over the past two years of implementing the plan, ministries and sectors have proactively coordinated with relevant localities to take solutions appropriate to each period to fully tap new opportunities, aiming to achieve the best results in socio-economic development in general and the development of specific sectors in particular, thus opening up new opportunities and shaping new values throughout the region.
T.Huong
Source: Vitic/VNA