Illustration. Source: Internet

Notably, a representative of VFA said that within the past 2 weeks, the price of Vietnam's 100% broken rice export has been adjusted up 3 times, with the total increase in all 3 phases up to 17 USD/ton.

Specifically, the price of Vietnam's 5% broken rice is currently stable at 415 - 149 USD/ton; 25% broken rice is 395 - 199 USD/ton. Meanwhile, Vietnam's 100% broken rice is being sold at 355 USD/ton, about 7 USD/ton higher than the same rice of Pakistan.

China is one of the largest rice consumers in the world. According to the latest report from the US Department of Agriculture (USDA), China's milled rice production in 2022/2023 is forecast at 148 million tons. China's rice imports in 2022/2023 are forecast at 5 million tons.

Currently, China is in need of increased rice imports due to strong domestic prices and adverse weather. China's import demand will be a good opportunity for Vietnam in the coming time. The price of export rice will not decrease because many customers are in demand to import.

Rice is one of the main agricultural products that Vietnam exports in large quantities to China, but the Vietnamese Trade Counselor in China assessed that this is also an item subject to high competition from other countries and from the government. products of China.

Typically, Vietnamese rice is subject to competition with Cambodian products. In 2021, China continues to be Cambodia's largest rice importer with 309,709 tons...

haiquanonline.com.vn