From May 1, 2020, the Government has allowed rice export to return to normal under the provisions of Decree 107, and at the same time continues strictly implementing the rice export only through international border gates.
However, recently there have not been many new contracts signed because the supply of winter-spring rice has dried up, the summer-autumn rice has not yet reached the peak harvest, pushing up the export price of rice.
In the first 4 months, rice export is estimated at 1.9 million tons
According to the Vietnam Food Association (VFA), the export price of some countries as of May 7, 2020 is as follows: Thai rice, 5% broken rice, is priced at US $ 523-527 / ton, and 25% broken rice. ranging from 494 to 498 USD / ton; Indian rice, 5%, priced from 368 - 372 USD / ton, 25% broken rice, priced from 338 - 342 USD / ton; Vietnamese rice with 5% broken is US $ 468 - 472 / ton, 25% broken rice is priced at 448 - 452 USD / ton.
These are the highest prices in nearly 2 years.
Experts said that rice exports have been cleared, businesses need to take advantage of good price opportunities for export. At the moment, Vietnam's rice export price is on par with Pakistan, higher than India and lower than Thailand. Notably, Vietnam's Jasmine rice export price was the highest at 573 - 577 USD / ton, while 92% Hom Mali rice from Thailand reached 1,093 - 1,097 USD / ton.
According to a rice exporter in Ho Chi Minh City, since Vietnam has reopened rice export, the export price of rice on the world market has decreased but is still better than before the export ban.
Currently, there are a number of businesses that are concerned about buying rice to hand over a sufficient number of signed contracts; others have signed new contracts but profits have decreased, as foreign export prices have dropped compared to before the ban but domestic rice prices still increased, due to reduced supply and high demand.
“Before an order to stop exporting, compared to foreign prices, domestic prices were much lower. Since the opening of rice export, foreign contract prices have decreased while domestic prices have decreased at the end of the season, but the demand has been high, so prices have increased. This is a good premise for upcoming Summer-Autumn rice consumption. The forecast of the Summer-Autumn rice price this year will be very good, currently the price of fresh rice in the field is ranging from 5,100 to 5,200 VND / kg, people are very excited, "said the above-mentioned business.
According to the Customs' announcement on May 7, 2020, the actual export volume of rice in April 2020 was estimated at 248,000 tons / 400,000 quota, and about more than 80,000 tons of sticky rice. Total rice and glutinous rice exports in April reached 350,000 tons, and 100,000 tons of government rice for the May advance quota also unused. However, since May 1, the government has exported rice normally so the application of quotas has no longer mattered.
In the first quarter of 2020, the country's rice export reached 1.52 million tons, earning 700.81 million USD. Thus, in the first 4 months of the year, rice exports were estimated at 1.9 million tons and 886 million USD, down 7.9% in volume and 0.5% in value over the same period in 2019. In 3 In the first month of the year, the average export price of rice reached US $ 461.9 / ton, up 6.3% over the same period in 2019.
Prices tend to rise, but note inventory factors
In the first week of May, after allowing the export of normal rice, the price of rice in the Mekong Delta (Mekong Delta) tends to increase by 200 - 400 VND / kg compared to the last week of April 2020. Specifically, dried OM 5451 and DT8 rice cost VND 7,000 / kg.
Currently, most farmers have sold all winter-spring rice, summer-autumn crop is also coming to harvest. In Summer-Autumn crop 2020, Mekong Delta provinces and cities sowing more than 750,000 hectares. According to the assessment of the agriculture industry, the rice tea is ripe, due to favorable weather, the yield is estimated to be 7-8 tons / ha. This summer-autumn crop is expected to reach 8.7 million tons of rice. In particular, there will be about 2.3 to 2.4 million tons of goods for export rice.
According to VFA, the current rice price increases in most markets, but it should be noted that the increase in inventories among people in Asia may affect demand in the near future ...
In response to the impact of the Covid-19 epidemic, the Indonesian government plans to procure about 950,000 tons of rice from the population to maintain inventories at 1-1.5 million tons. The Philippines Department of Agriculture also said that the country will hold about 3.27 million tons of rice by the end of 2020, equivalent to at least 94 days of use, although the demand for this item is quite large. The Bangladesh Ministry of Food, meanwhile, said it would buy 1.15 million tons of rice and 800,000 tons of farmers' paddy in this crop to ensure supply. The accumulation of rice has pushed rice prices in Bangladesh to a record high of 2 years.
China is also trying to increase domestic agricultural production by encouraging the return of two rice crops a year.
Myanmar has also restored normal rice exports since May 2020 with a volume of about 150,000 tons, of which 100,000 tons are exported by waterway and 50,000 tons cross the border. The government estimates that more than 2 million tons of rice will be licensed for export in this fiscal (last year Myanmar exported 2.5 million tons).
Cambodia's rice exports in the first four months of 2020 increased by 40.5% over the same period last year, to 300,252 tons. In particular, exports to China reached 122,094 tons, up 28% over the same period last year and accounted for 40.6% of total rice exports of the country; exports to Europe reached 97,337 tons, up 48%.
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