Vietnamese rice export price rebounds after Tet
VOV.VN - Amid global rice prices witnessing a downward trajectory, Vietnam’s export rice prices began to rise in the early days of February, according to the latest update data given by the Vietnam Food Association (VFA)
Specifically, Thailand's 5% broken rice dropped by US$13 per tonne to US$628 per tonne, while its 25% broken rice decreased by US$6 per tonne to US$572 per tonne.
Similarly, Pakistan's 5% broken rice also plummeted by US$11 per tonne to US$619 per tonne, while Thailand’s 25% broken rice fell by US$10 per tonne to US$564 per tonne.
In particular, Vietnam’s 5% broken rice increased by US$1 per tonne to US$638 per tonne, while 25% broken rice rose by US$2 per tonne to US$612 per tonne.
The decrease in price of Thai and Pakistani rice can be attributed to the Thai baht devaluation and limited purchase of raw materials due to rising domestic prices.
Furthermore, demand from Africa and Europe, especially for the basmati rice segment from Pakistan, has become gloomy due to a sharp increase being recorded in shipping rates due to the Red Sea conflict.
Meanwhile, Vietnamese rice has bounced back as the nation is entering the winter-spring rice harvest, which makes up the largest rice crop of the year.
According to industry insiders, Vietnamese rice is expected to grow well this year due to a general shortage of supply sources worldwide.
Currently, major Vietnamese export markets such as the Philippines, Indonesia, China, and several traditional markets have seen high demand for importing Vietnamese rice.
