Vietnam’s rice export prices have soared but the supply is insufficient
By: Date: 2021-04-08 Categories: Internationalfood Tags: ,
According to a report from Vietnam Economic Journal on April 6, Vietnam’s rice export price (FOB) with a broken rice rate of 5%since March 25 has soared to US$520/ton, the highest level in 9 years and 2 to 2 times higher than similar rice in Thailand. USD 15/ton. The Vietnam Food Association believes that the reasons for the soaring price of rice are firstly to improve the quality of rice seeds and change the planting structure, and the quality of rice is significantly improved; secondly, due to the impact of the epidemic, many countries, especially the European Union countries, have increased their import reserves of rice, and demand has increased; Inventories are basically emptied, new rice is not yet on the market, the supply of goods is insufficient, and overseas demand is strong, thus pushing up export prices.

   reported that the main difficulty facing Vietnam’s rice exports is insufficient supply. Affected by climate change, the Jiulong River Plain, the main rice-producing region in Vietnam, is in the dry season, and severe seawater intrusion has reduced the area of ​​rice cultivation and affected rice production. In the first quarter, Vietnam’s rice exports fell by 31%year-on-year. The shortage of rice supply will continue for some time, and export prices will remain high. China is Vietnam’s second largest rice export market, second only to the Philippines. In the first two months of this year, it exported 159,000 tons of rice to China, with an export value of 83.63 million U.S. dollars and an average price of 525 U.S. dollars per ton (CIF).