Surpassing Thailand, Vietnamese rice ranks first in world on price.

16-Apr-2021 Intellasia | Vietnamnet | 5:02 AM Print This Post

Overcoming Thailand and India, Vietnamese rice ranked first in the world on average selling price, which in the first quarter was $547 per tonne, up 18.6 percent year-on-year.

According to a report of the Department of Agricultural Processing and Market Development (Ministry of Agriculture and Rural Development), Vietnam exported 1.1 million tonnes of rice in the first three months of 2021, earning $606 million, down 30.4 percent in volume and 17.4 percent in value over the same period of 2020.

In March 2021, the average export price of Vietnamese rice reached $547 per tonne, up 0.5 percent compared to that of February 2021 and 19.1 percent compared to March 2020. On average, in the first quarter of 2021, the average export price of rice increased 18.6 percent year-on-year. The price for Vietnamese rice was higher than that of Thailand and India.

According to the Department of Agricultural Processing and Market Development, the price for Vietnamese rice was high during this period thanks to the high demand for new winter-spring rice from Vietnam from foreign partners.

Vietnamese rice has held the top spot in the world in selling prices. The price for 5 percent broken rice of India rose sharply in late March, but it only reached $401 per tonne. Indian rice currently has the lowest price among the three largest rice exporting countries in the world. Meanwhile, the price of Thai rice of the same type reached $538 per tonne in early March but fell to $509 per tonne in late March.

In 2020, Vietnam surpassed its competitors in selling prices, with an export volume of 6.15 million tonnes, earning $3.07 billion, officially overtaking Thailand to become the second largest rice exporter in the world, after India.

According to the Vietnam Food Association, since late March 2021, rice exports will increase as the supply of commodity rice is abundant and businesses have completed processing rice for export.


Category: Economy, Vietnam

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