Vietnam maintains lead in global rice export prices
Vietnam maintains lead in global rice export prices
Vietnam still tops the list of rice exporters in the world in terms of rice export prices, with its 5-percent broken rice selling for US$638 per tonne last Friday.
The rate rose $105 per tonne compared to July 19, when India was yet to ban rice exports.
On July 20, India's government announced that it would stop exporting non-basmati white rice, effective immediately.
The price of Vietnam’s 25-percent broken rice was quoted at $623 per tonne on the same day, up $110 a tonne, the Vietnam News Agency reported, citing the Vietnam Food Association.
The export price of Thailand’s 5-percent broken rice stood at $628 per tonne, while Pakistan’s rice was priced at $598 a metric ton.
The rice export prices kept soaring last weekend following India’s decision made on the same occasion to impose a 20-percent duty on exports of parboiled rice with immediate effect until October 16.
The move might further reduce shipments from the world's largest rice exporter and lift global rice prices, which are already trading near their highest levels in 12 years, Dau Tu (Investment) newspaper reported.
India’s prohibition on rice exports is aimed at lowering rice prices and securing availability in the country.
In the Vietnamese market, raw rice prices have fluctuated over the past few days.
Many provinces and cities in the Mekong Delta region, considered Vietnam's 'rice bowl,' have seen raw rice prices hit new record highs, benefiting farmers.
Statistics from the Institute of Policy and Strategy for Agriculture and Rural Development indicated that the prices of raw rice in Can Tho City remained stable.
The city is quoting medium-grade raw rice (IR50404) at VND8,200 (34 U.S. cents) per kilogram, while raw OM 4218 fragrant rice is priced at VND9,000 (37 cents) per kilogram.
In Soc Trang Province, raw Dai Thom grains are quoted at VND8,500 (35 cents) per kilogram, down VND100 per kilogram against the previous week.
Meanwhile, the price of raw IR 50404 rice in Hau Giang Province improved by VND100, at VND8,500 a kilogram. OM 18 grains sell for VND8,800 (36 cents) per kilogram, up VND200.
Tien Giang, Kien Giang, Ben Tre, Dong Thap, and An Giang Provinces in the delta have seen the prices of raw rice varieties either increase or decrease VND100 or VND200 per kilogram.
