Vietnam's rice export price is the highest in the world

Exported 5% broken rice of Vietnam is holding the highest price in the world, difference with "big" in Thailand is 20 USD / ton.

"Up to life" thanks to EVFTA
According to the Vietnam Food Association (VFA), for many consecutive days, Vietnam's rice export price has always been higher than many other markets with the same product. On August 13, the VFA's update of the rice export price list showed that Vietnam's 5% broken rice was traded at $ 493 - $ 497 / ton, while the same type of Thai rice traded at $ 473 - $ 477. /ton; India from 378 to 382 USD / ton; Pakistan from 423 - 427 USD / ton ... Thus, at this price, 5% broken rice of Vietnam is higher than the same type of other countries: Thailand 20 USD / ton, India 115 USD / ton, Pakistan 70 USD / ton.
Among the three major rice exporting countries in the world, namely Vietnam, Thailand and India, Vietnam's 5% broken rice export price is keeping the highest price. Mr. Nguyen Van Don, Director of Viet Hung Company Limited (Tien Giang), confirmed that Vietnam's rice export price is now "much better" than Thai rice. He said: “It is true that in the 30-year history of rice export, Vietnamese rice now has the same export price as Thai rice, even outstripping Thai 5% broken rice to 20 USD / ton. This is very good news and a positive signal for Vietnamese rice grains ". However, Mr. Don added, there are some reasons why Vietnam's 5% broken rice price on the world market surpasses Thai rice. The first is that the Thai baht continues to appreciate against the dollar, making exports disadvantaged. Second, the current 5% broken rice has been exhausted. There are few people growing this type of summer-autumn crop, so the supply does not meet demand, the price increases sharply.
Looking at the overall rice export market, Mr. Don still affirmed that Vietnamese rice for export has good prices with many types, not only 5% broken. For example, DT8 rice varieties are currently selling for 570 USD / ton while the previous season only sold the highest price of 540 USD / ton. Or rice 5451, Mr. Don's company is currently exporting for 540 - 550 USD / ton, while in the previous winter-spring crop, the highest price was about 500 USD / ton.
Mr. Pham Thai Binh, General Director of Trung An High-Tech Agriculture Joint Stock Company (Can Tho City), added that Vietnamese rice prices are in a better direction thanks to world media reporting about Vietnamese fragrant rice. Men entering the EU enjoy a tax rate of 0% under the Vietnam - EU Free Trade Agreement (EVFTA). “The EU is a classy market. For every Vietnamese rice name attached to this market, it will be“ organic and natural ”. Vietnamese rice prices are highly appreciated and purchased with better prices in recent years, thanks to a large part from EVFTA. Vietnamese rice brand is getting some attention in the world market, after the Thai name is real. Because of that, we can negotiate to export rice to France under the company's name, not to export raw materials anymore. Second, Vietnamese rice is delicious and really good, much better than the same type of Thailand, ”said Mr. Binh confidently.
It is true that in the 30-year history of rice export, Vietnamese rice now has the same export price, even outstripping the 5% broken Thai rice.
Mr. Nguyen Van Don, Director of Viet Hung Company Limited
Selling rice now must know "anchor price"
However, Mr. Pham Thai Binh also expressed concern that Vietnamese rice exporters are still too easy to buy and sell, accepting lower prices than Thai rice prices, but "not bothered". He said frankly: "Many rice exporters do not know how to set prices, have not yet fixed prices with customers, so they are still overwhelmed by Thai rice".
For example, Vietnam's delicious rice has not been sold for a long time at a price of over 1,000 USD / ton, while for the same kind, Thailand has been selling for 1,200 - 1,300 USD / ton for a long time. Talking to us, many rice exporters are frustrated that this lies in the exporters' mindset. As always "safe" that we accept to sell at a lower price than Thai rice, we always call "Thai rice" as the default proper noun meaning "good rice", making it easier for foreign buyers to force the price.
“They know their fragrant ST24 rice has eaten Thailand's“ hom mali ”rice, Vietnam's ST24 has been honored as the best rice in the world, why is it cheaper than Thai rice? What to do better than selling rice at 800 USD / ton, while the second grade rice is priced at 1,100 - 1,200 USD / ton? Here it is due to our own thinking. At meetings with exporters, many times I have to "scream" that we should not dump, we should not underestimate ourselves when the nature of the problem is not. Selling at low prices, we are forcing Vietnamese farmers, there is nothing better than anything ", Mr. Binh annoyed.
Mr. Pham Tai, the rice exporter in Ho Chi Minh City, also agrees: “The increase in Vietnamese rice price is fun, but it has not shown the right quality we own. Vietnam's ST24 rice was awarded the best medal in the world, and is currently sold domestically at much higher prices than export. In the country, ST24 rice is selling at 1,200 - 1,300 USD / ton, while the maximum export is 1,000 USD / ton, Trung An Company can export 1,050 USD / ton. the majority was paid at 800 - 900 USD / ton ”.

"Our weaknesses are often said to be lack of linkage, weak value chain production, unsustainable farming ... these weaknesses are" still current ". Vietnamese rice wants to compete well and sustainably with rice from other countries, rise to the top position ... to overcome the above weaknesses, there is no other way ", Mr. Binh concluded.
According to the Thai Rice Exporters Association (TREA) at the end of July, the country's rice exports forecast to drop to 6.5 million tons, mainly due to drought (down 5 million tons in rice). crop year 2020) and the baht increases. In the first 6 months of the year, Thailand's rice exports decreased 34% compared to the same period last year, the lowest level in the past 20 years and lower than the forecast of 7.5 million tons made earlier by this country. Meanwhile, according to the Ministry of Agriculture and Rural Development, in the first 7 months of the year, Vietnam exported about 3.9 million tons of rice, reaching a turnover of $ 1.9 billion, down 1.4% in volume but up 10.9%. in value over the same period last year. Currently the Philippines is the largest rice importer of Vietnam, accounting for 37% of the market share.

Source: https://m.thanhnien.vn/tai-chinh-kinh-doanh/gia-gao-viet-xuat-khau-cao-nhat-the-gioi-1265389.html