(TBTCO) – According to expert assessments, in the rice market in the second quarter of 2024, Vietnam’s export rice prices are forecast to remain high thanks to guaranteed supply, quality products, and reputable brands.
| Source: General Department of Customs. Graphics: Van Chung |
Strong growth in volume and value
Vietnam has become one of the rice exporting countries that takes advantage of opportunities from world market developments with high prices, bringing profits to businesses and increasing income for farmers, contributing to the development of rice production. victory of rice export in particular and agricultural product export in general.
| Guaranteed export of 8 million tons of rice or more According to the Ministry of Agriculture and Rural Development, in 2024, the Agriculture sector still aims to maintain the rice cultivation area at 7.1 million hectares, with rice output over 43 million tons; ensure export of 8 million tons of rice or more. Vietnam is also the first country in the world to build and develop a production plan of 1 million hectares. |
Latest data from the General Department of Customs shows that from the beginning of the year to the end of April 15, 2024, Vietnam has exported 2.69 million tons of rice, worth more than 1.74 billion USD, an increase of 13.6 billion USD. % in volume and 39% in value compared to the same period in 2023.
According to the Vietnam Food Association (VFA), export rice prices in March 2024 and the first half of April 2024 have decreased compared to export rice prices in the first 2 months of the year. Currently, standard 5% broken rice is currently at 582 USD/ton; 25% broken rice at 557 USD/ton; 100% broken rice remained stable at 480 USD/ton. Experts say that although Vietnam’s export rice price is at the lowest price in the past 6 months, compared to the same period last year, Vietnam’s export rice price is still nearly higher. 120 USD/ton
Commenting on the rice market in the second quarter of 2024, VFA Vice President Do Ha Nam assessed that world rice prices and Vietnam’s export rice prices will remain high. The reason is that the world’s rice supply is still limited due to adverse weather conditions, many major supplying countries are forced to ban and limit exports. The El Nino weather phenomenon, which causes many large areas of Asia to become dry in 2023, is expected to continue in the first half of 2024. Meanwhile, the world’s largest rice exporter, India, is still The ban on exporting white rice has not been lifted since the middle of last year; Furthermore, Thailand, the world’s second largest rice exporter, also said it would cut the amount of rice exported to ensure domestic food security…
Stable source of high quality goods
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In the context of complex fluctuations in the world situation, greatly affecting economic growth, there are potential risks to global trade in goods, especially food products, including rice. However, with the close guidance of the Government, the Prime Minister and the direction of the Ministry of Agriculture and Rural Development and other ministries, branches and localities on solutions to remove difficulties, promote production and boost exports, contributing to bringing positive results to rice export activities.
On the part of the Ministry of Agriculture and Rural Development, the crop industry is stepping up to direct and guide localities to adjust production plans and appropriate crop structures to stabilize rice supply, especially high quality goods to serve the needs of rice. export demand. Notably, this Ministry is actively coordinating with localities in the Mekong Delta region to implement the Sustainable Development Project of 1 million hectares specializing in high-quality, low-emission rice cultivation associated with increased productivity. Green growth in the Mekong Delta until 2030 (Project). This project is expected to fundamentally transform rice production methods in the Mekong Delta, creating conditions to improve the industry’s value chain and income for farmers, contributing to environmental protection./.
