Export offer price of Vietnamese rice is the highest
Vietnamese rice prices continue to rise, reaching $522 per ton despite India lifting its export restrictions. This price increase is due to supply constraints in the Mekong Delta as harvesting nears completion, with daily purchases dropping significantly. In contrast, the prices of rice from Pakistan and Thailand have fallen by 5-10%. Vietnam’s rice exports grew by 23% in the first 10 months of the year, with the Philippines being the largest importer.
iGrain India – The export offer price of Vietnamese rice remains the highest globally, despite India completely lifting its export restrictions on all varieties of rice.
Although the global rice market has seen some softening in prices after India opened its rice exports, Vietnamese rice prices have continued to climb.
For instance, the price of 5% broken rice from Pakistan and Thailand has dropped by 5-10%, now ranging from $457 to $490 per ton.
In contrast, the price of Vietnamese rice recently rose to $522 per ton, after briefly falling to around $500 per ton a few days earlier.
The ongoing rise in Vietnamese rice prices is attributed to the near completion of the paddy harvesting season in Vietnam, especially in the Mekong Delta region.
In this major rice-producing area, the daily rice purchase volume has sharply decreased from 1000-1500 tons to just 300-500 tons, contributing to supply constraints and rising prices.
Farmers in the Mekong Delta are now prioritizing the production of high-quality paddy to better compete with other rice-exporting countries.
Despite these challenges, Vietnam’s rice export performance has been strong. In the first 10 months of the year, Vietnam exported about 7.8 million tons of rice, valued at around $4.90 billion—an increase of 23% compared to the previous year.
The average export price per ton rose by 12%, reaching $626. The Philippines was the largest importer, accounting for 45% of Vietnam’s rice exports, followed by Indonesia with 14.4%, and Malaysia with 8.5%.
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