Vietnamese rice prices increase after India’s export ban

Rice prices in Vietnam's Mekong Delta region last week reached a record high in the last 10 years after India banned the export of non-basmati white rice.

Vietnamese rice prices increase after India’s export ban hinh anh 1

Illustrative photo (Photo: VNA)

Rice prices in Vietnam's Mekong Delta region last week reached a record high in the last 10 years after India banned the export of non-basmati white rice.

The price of Vietnam's 5% broken rice increased to 550-575 USD per tonne on July 27, the highest since 2011. In the week earlier, it was just 515-525 USD per tonne.

Vietnam’s average rice export price for the first six months of 2023 reached 539 USD per tonne, a 10.2% increase over the same period in the previous year, according to the General Department of Vietnam Customs.

A trader in Ho Chi Minh City said that exporters expect prices of the grain to rise further after India's move to restrict rice exports.

Meanwhile, Thailand’s 5% broken rice prices also increased to 605-610 USD per tonne on July 27, the highest in the last 11 years.

On July 20, India issued a ban on rice export, aiming to ensure adequate domestic availability at reasonable prices. The ban pushed its rice prices to 445-450 USD per tonne - a record high in the last five years and a half.

According to the Vietnam Food Association, rice prices in the domestic market have also increased sharply.

For example, the price of 5% broken rice is 12,500 VND (0.53 USD) per kg, the average price is 12,304 VND per kg, an increase of 754 VND per kg./.

Source: VNA
en.vietnamplus.vn

Related News

Rice exports to China drop sharply

Rice exports to China drop sharply

VCN - While the amount of rice exported to Southeast Asian markets increased sharply, the results in the Chinese market were the opposite.
Increasing the value of rice grains from the project of 1 million hectares of high quality rice

Increasing the value of rice grains from the project of 1 million hectares of high quality rice

VCN - The implementation of the project of 1 million hectares of high-quality rice will contribute to promoting the transition from traditional farming methods to synchronous mechanization, developing large-scale, stable and long-term concentrated raw material areas, ensuring sustainable and effective farming quality and minimizing environmental pollution. Vietnam is also the first country in the world to build a large-scale project on sustainable rice production and reduced emissions.
Build and protect the rice value chain against market fluctuations

Build and protect the rice value chain against market fluctuations

VCN - Due to recent risks and challenges,business performancehave been badly hurt andmany chain links have been under threats ..., the rice industry needs to enhance the role of ministries, branches, localities, and farmers and businesses in building and protecting the rice value chain against market fluctuations.
Rice and vegetables "reach target" early

Rice and vegetables "reach target" early

VCN - While many export industries are forecast to have difficulty completing their yearly plans, vegetables, fruits and rice have soon reached the finish line and set a new record in 2023.

Latest News

Developing export markets along with trade promotion

Developing export markets along with trade promotion

VCN - Import and export of goods in the first 6 months of 2024 continue to record positive results, total turnover is estimated at USD 369.6 billion, up 16% over the same period last year.
Building the Vietnamese brand associated with green and sustainable development

Building the Vietnamese brand associated with green and sustainable development

VCN - According to experts, in the current context, branding becomes even more urgent, helping to increase endogenous resources for businesses, helping businesses move towards strong development, gradually reaching further in the domestic and world markets.
Improving the competitiveness of businesses is an important factor

Improving the competitiveness of businesses is an important factor

VCN - Local competitiveness is not only based on economic management capacity, the favorable and friendly business environment and efforts to improve administrative reform efforts of provincial and city governments (PCI) but also relies on the competitiveness of local businesses.
Malaysia to boost exports to Vietnam

Malaysia to boost exports to Vietnam

The Malaysian Ministry of Investment, Trade and Industry (MITI) on July 11 announced that the country has secured potential exports worth 3.3 billion RM (about 717 million USD) to Vietnam.

More News

Exporters advised to update trade policies of Singapore

Exporters advised to update trade policies of Singapore

The Vietnam Trade Office in Singapore has advised Vietnamese exporters to carefully study and keep updated on new regulations in Singapore, a market that is becoming more cautious in trade policy, in order to further exploit this market.
Import and export turnover increases to US$ 51 billion

Import and export turnover increases to US$ 51 billion

VCN – Import-export turnover in June saw a slight decrease but remained at a high level, the General Department of Vietnam Customs announces.
Green logistics – a key for sustainable development

Green logistics – a key for sustainable development

Green logistics development is no longer a trend, it is an inevitable requirement with activities throughout the stage of purchasing raw materials, production, distribution, delivery, waste treatment - throughout the entire business life cycle.
Manufacturing enterprises need to adapt to trends to develop: experts

Manufacturing enterprises need to adapt to trends to develop: experts

Besides the factors of price, product quality and delivery time, green and sustainable development are competitive criteria that more and more markets are requiring from suppliers in Ho Chi Minh City as well as across the country.
Rubber exports grows sharply in June

Rubber exports grows sharply in June

VCN - According to Import – Export Tax Department (Ministry of Industry and Trade), Vietnam's rubber exports in June 2024 reached about 150 thousand tons, worth 238 million USD, up 77.6% in volume and 76.6% in value. Price compared to May 2024.
Prioritize stimulating domestic consumption to promote economic growth in 2024

Prioritize stimulating domestic consumption to promote economic growth in 2024

VCN - According to General Director of the General Statistics Office Nguyen Thi Huong, in the context of many difficulties in the world economy, the export growth rate is slowing down, many businesses are facing a shortage of orders..., priority should be given to stimulating demand. Domestic consumption is considered an important solution to promote economic growth in 2024.
Exports fruit and vegetable expects to exceed US$ 7 billion

Exports fruit and vegetable expects to exceed US$ 7 billion

VCN - In the first half of 2024, fruit and vegetable export turnover reached nearly US$3.5 billion. Key markets recorded an increase of 10-50% over the same period in 2023. This is also the industry that holds the leading position in exports of agricultural products.
Việt Nam, Philippines agree to establish a rice industry alliance

Việt Nam, Philippines agree to establish a rice industry alliance

Agriculture ministers of Việt Nam and the Philippines agreed to establish a rice industry alliance between the two countries and upgrade the trade relationship into an investment partnership.
"Good oppotunities" for export to Asia - Africa markets

"Good oppotunities" for export to Asia - Africa markets

VCN - The Asia-Africa region is always an important market for Vietnam. These are two markets considered suitable for Vietnamese goods, including the Red River Delta, to expand their market share in the near future.
Read More

Your care

Latest Most read
Developing export markets along with trade promotion

Developing export markets along with trade promotion

VCN - Import and export of goods in the first 6 months of 2024 continue to record positive results, total turnover is estimated at USD 369.6 billion, up 16% over the same period last year.
Building the Vietnamese brand associated with green and sustainable development

Building the Vietnamese brand associated with green and sustainable development

VCN - According to experts, in the current context, branding becomes even more urgent, helping to increase endogenous resources for businesses, helping businesses move towards strong development, gradually reaching further in the domestic and world market
Improving the competitiveness of businesses is an important factor

Improving the competitiveness of businesses is an important factor

VCN - Local competitiveness is not only based on economic management capacity, the favorable and friendly business environment and efforts to improve administrative reform efforts of provincial and city governments (PCI) but also relies on the competitive
Malaysia to boost exports to Vietnam

Malaysia to boost exports to Vietnam

The Malaysian Ministry of Investment, Trade and Industry (MITI) on July 11 announced that the country has secured potential exports worth 3.3 billion RM (about 717 million USD) to Vietnam.
Exporters advised to update trade policies of Singapore

Exporters advised to update trade policies of Singapore

The Vietnam Trade Office in Singapore has advised Vietnamese exporters to carefully study and keep updated on new regulations in Singapore, a market that is becoming more cautious in trade policy, in order to further exploit this market.
Mobile Version