Rice export prices inch down

16-Apr-2021 Intellasia | The Saigon Times | 5:02 AM Print This Post

The price of Vietnam’s 5 percent broken rice stood at $483-487 per tonne in the global market on April 13, down $35 per tonne against the end of March, according to the Vietnam Food Association.

The price level of Vietnamese rice declined from the record level of $515-520 per tonne recorded on March 25, the highest ever since December 2011, Lao Dong Online reported.

Statistics from the general Department of Vietnam Customs indicated that in the first quarter of 2021, Vietnam exported rice worth $606 million, down 17.4 percent year-on-year.

The Philippines remained Vietnam’s largest rice buyer during the period, importing over 255,870 tonnes of Vietnamese rice in the first two months of 2021, accounting for 38.3 percent of Vietnam’s total rice exports.

Many local rice exporters said that they had failed to secure new orders due to high rentals of containers and vessels, driving rice prices up and thus hitting rice exports.

To support rice exports, local rice prices were revised down by VND100-300 per kilogram, with IR504 material rice selling for up to VND8,400, IR504 finished rice priced at VND9,900 per kilogram and broken rice at VND8,400.

The prices of unhusked rice also edged down by VND100-300 per kilogram against last week. On April 13, An Giang Province saw the prices of IR504 unhusked rice sell for VND5,800-6,000, while OM 9577 unhusked rice was priced at VND6,050 per kilogram.



Category: Economy, Vietnam

Print This Post

Leave a Reply

You must be logged in to post a comment.