Vietnam rice export price 2022

Market Information
icon date25/07/2023

The export price of Vietnamese rice is increasing day by day, what is the reason for the increase in rice price, let’s find out.

Status of Vietnam’s rice exports 2022
According to the results of the latest statistics, the volume of rice exports in November 2022 is estimated at 600 thousand tons, worth 296 million USD. However, the average rice export in November 2022 is still decreasing by 8.1% compared to the same period in 2021.

In Vietnam, the export price of rice reached 438 USD/ton, this is the highest price in history from June 2021 until now. Based on this result, we can see that the reason for the increase in rice prices is due to a decrease in supply and an increase in demand at the end of the year. Especially, the fragrant and delicious rice is being imported to the key markets of the Philippines and China.

In the domestic market, the export price of rice in regions such as the Mekong Delta is expected to increase in 20 days and decrease at the end of the month.

Specifically, in An Giang province, IR50404 rice increased to 6,500 VND/kg in the middle of the month, and now at the end of December 2022 it is only 6,300 VND/kg; High quality rice line OM 5451 increased by 200 VND/kg to 6,500 VND/kg and is now down at 6,400 VND/kg.

In Kien Giang province, IR50404 rice increased at the beginning and middle of the month from 6,800 to 7,000 VND/kg; OM 5451 rice increased to 7,600-7,800 VND/kg. fragrant Dai Dai 8 to 7,800 – 8,000 VND/kg.
In Vinh Long, IR 50404 rice is priced at 5,700 VND/kg, unchanged throughout the past month.

Vietnam’s rice export price ranks first in the world

According to the latest results recorded at the beginning of November, 2022, Vietnam’s rice export price still holds the highest position in the world. Specifically, on November 8, 5% broken rice was priced at 385 USD/ton (FOB), 5% broken rice in Thailand was priced at 405 USD/ton (FOB), and 5% broken rice in Vietnam was priced at 425 USD/ton (FOB). For OM 5451 rice, the price is 450 USD/ton (FOB), DT8 rice is 480 USD/ton (FOB).

According to the Vietnam Food Association, in the coming December, the price of 5% broken rice in Vietnam will increase sharply to 425 – 430 USD / ton, and this will also be the highest price from November last year until now.

The reason for the sharp increase in export prices in Vietnam is that recently, there has been a sharp shift to the world’s leading aromatic rice and high-quality rice segments such as ST24, ST25…

Forecast of rice export prices in the future
It is predicted that Vietnam’s rice export price in the future will remain at the leading position in the world at 23 USD/ton… Forecasting the rice market at the end of the year, businesses believe that the price increase will last until the end of December. After India imposed a 20% tax on all of our country’s rice exports, Vietnam’s rice exports suddenly increased sharply in October 2022.

PVMachino is the leading reputable rice exporter in Vietnam with many years of operation in the field of food, staple food is rice, most notably rice export.
The company owns many retail and wholesale systems with modern machinery and equipment, large energy capacity of 350,000 tons/year. Moreover, the unit also has many large rice export processing factories, near key consumption sources, large warehouses with up to 70,000 tons of rice, which are very convenient.

With a wide sales network in many countries and strong cooperation with distributors, PVMachino is capable of serving many demanding markets such as: USA, UK, France, Germany, Spain, Middle East, Africa, Australia, Philippines, Malaysia, Singapore and Hong Kong…

We always take the motto “Consumer health” as a premise for rice production, and thanks to this core motto, the unit has brought many successes up to the present time. Therefore, we are also very proud to be the main food supplier for many countries today.

The implementation of rice quality testing has helped rice exporter PVMachino improve its position, brand and reputation in the market. Through that, consumers choose to make food for their families and friends, which is something we are very proud of.

Through the above article, customers must have understood more about the export price of Vietnamese rice at the present time and the latest update for the future forecast. If you have any questions or comments, please leave a comment below