Specifically, the country’s 5% broken rice is currently being traded at US$575 per ton, which is $14 and $34 higher per ton than Thailand's and Pakistan’s, respectively.

Additionally, the price of Vietnam's 25% broken rice has increased to $539 per ton, exceeding those of similar products from the above countries by $27 and $22 per ton, respectively.

Compared to other leading rice-exporting nations, Vietnam's rice now commands the highest prices. This marks a significant recovery and favorable conditions for the country’s related exports, especially against the background that in July, its export prices were lower than those of Thailand, Pakistan, and Myanmar.

According to the VFA, the primary reason behind such an increase is a supply - demand imbalance, with supply failing to meet market demand. Currently, the global demand for rice is surging, while most rice-producing countries have passed their main harvest seasons.

Moreover, the Philippines, a major import market, has reduced its rice import tax from 35% to 15%, encouraging Filipino businesses to boost rice imports.

Vietnam's rice export prices have also risen in markets other than traditional ones. For instance, in Brunei and the U.S., they have reached $959 and $868 per ton.

The VFA statistics show that Vietnam shipped nearly 5.3 million tons of rice overseas for some $3.34 billion in the first seven months. While the export volume only increased by 8.3%, the value saw a significant surge of 27.7% compared to the same period last year.

The Ministry of Agriculture and Rural Development (MARD) forecasts that in the coming months, the demand for rice will rise across most countries, leading to a vibrant export market towards the end of the year. Indonesia recently announced it might import 4.5 million tons of the grain, up from the 3.6 million tons initially projected for 2024.

In addition to Indonesia, the world’s largest rice import market, the Philippines – a traditional customer for Vietnamese, has also forecast an increase in imports from 4.2 million tons to between 4.5 and 4.7 million tons in this year.

MARD projected that Vietnam would export around 7.4 to 8 million tons of rice in 2024, with export revenues expected to exceed $5 billion.

Vietnam gains approval to export frozen durian, fresh coconut exports to China

Vietnam is allowed to export frozen durian and fresh coconuts to China under an official quota, following the signing of protocols between the two countries on Monday.

Bac Giang promotes many OCOP products in Thanh Hoa

BAC GIANG - Thanh Hoa province launched a space to display and introduce agricultural, industrial and handicraft products of provinces and cities in the Northern region from August 16 – 18, including Bac Giang, Thai Binh, Dien Bien, Phu Tho, Yen Bai, Hai Duong, Hoa Binh, Thai Nguyen, Nam Dinh, Vinh Phuc, Ninh Binh, Ha Nam, Hung Yen, Lang Son, Tuyen Quang, Hanoi, Bac Ninh, Quang Ninh and Son La.

Lang Son advertises custard-apples and typical farm produce in Hanoi

The northern province of Lang Son is promoting its typical farm produce, especially custard-apples, at a trade week being held in Hanoi from August 15 to 18.

Vietnam takes active measures to boost timber exports

Vietnam’s timber export value in the first three quarters of 2024 is higher than same period last year thanks to a positive market recovery. However, the sector is expected to continue facing external difficulties in the fourth quarter of 2024 and the subsequent year.

South Korea agriculture imports from Vietnam soar

South Korea imported US$164 million worth of agriculture produce from Vietnam in the first six half of this year, a 55% year-on-year increase.

Durian exports hit $1.7B in 7 months

Overseas shipments of Vietnamese durian brought home approximately US$1.7 billion between January and July, according to the Ministry of Agriculture and Rural Development (MARD).

Source: VnExpress