The General Department of Customs (GDC) has reported that Vietnam exported 605,400 tons of rice last month, worth $377.9 million, an increase of 3.8 percent in quantity and 37.3 percent in value compared with the same period last year.

Indonesia bought 166,000 tons, surpassing the Philippines and China to become the biggest consumer of Vietnam’s rice in September. The Philippines imported $62.7 million and China $43.7 million of products.

As of the end of September, Vietnam had exported 6.42 million tons of rice with export turnover of $3.54 billion, increasing by 19.5 percent in quantity and 35.9 percent in value.

The Philippines remained the largest client of Vietnam. It bought $1.29 billion of rice from Vietnam in the first nine months 2023, up 13 percent. China, the second largest importer, bought $495.8 million, up 55.2 percent.

The third position belonged to Indonesia which imported $462.6 million, a sharp increase of 1,796 percent over the same period last year. Sharp increases in exports have also been reported for Turkish and Chilean markets, by 10,608 and 2,291 percent.

The Ministry of Agriculture and Rural Development (MARD) reported that Vietnam’s average export price was $553 per ton, up 14 percent, and the price once climbed to $650 per ton.

The Vietnam Food Association (VFA) reported that Vietnam’s rice prices have been standing high, which is in contrast to the prices of its two rivals – Thailand and Pakistan.

On October 10, Thailand’s five percent and 25 percent broken rice export prices decreased by $3 per ton to $578 and $530 per ton, respectively, while Pakistan’s prices dropped to $548 and $468 per ton, respectively.

At the same time, Vietnam five percent and 25 percent broken rice moved up slightly to $618 and $598 per ton.

Vietnam’s rice is now the most expensive in the world, and the gap between Vietnam’s rice price and Thailand and Pakistan’s prices has widened.

Vietnam’s 5 percent broken rice prices are $40 per ton higher than Thailand, and $70 percent higher than Pakistan. The figures are $68 and $130 per ton, respectively, for 25 percent broken rice.

The rice prices have also increased in the domestic market, according to VFA. The rice prices on September 28 – October 5 increased by VND8-193 per kilogram. Common unhusked paddy sold at VND7,850 per kilogram at the fields and VND9,017 per kilogram at stock. Meanwhile, first-class husked white rice price sold at VND14,263 per kilogram on average. 

Farmers sold 5 percent broken rice at VND14,250 per kilogram, 15 percent of broken rice at VND14,058 and 25 percent broken rice at VND13,808 per kilogram.

In the Mekong Delta, the largest rice granary in the country, farmers are harvesting autumn-winter rice and selling at VND8,000-8,600 per kilogram at the fields.

Rice export companies are optimistic about rice exports in the last months of the year and for 2023 with high demand from the loyal markets of the Philippines, China and Indonesia.

The Philippines has increased purchases again after nearly one month of interruption because of the government’s ceiling price imposition.

As for Indonesia, Bulog, the logistics bureau of the country, has invited for bids to provide 500,000 tons of rice. It plans to import 300,000 tons from Vietnam, Thailand, Myanmar and 200,000 tons from Pakistan.

A Vietnamese export in mid-September won the bid to provide 50,000 tons of rice to Indonesia at $640-650 per ton.

Analysts believe that China will increase purchases of sticky rice in the last months of the year to serve high demand for the new year holiday.

ASEAN countries at the 45th ASEAN Ministers on Agriculture and Forestry (AMAF) all said that they will prioritize providing food to member countries and consider imposing ceiling prices if global prices soar. 

Deputy Minister of Agriculture and Rural Development Phung Duc Tien said Vietnam may export 7.8 million tons of rice this year thanks to the increase in autumn-winter rice growing area. Vietnam has about 1.38 million tons of rice of different kinds for export in the last months of the year.

Tam An