Update news rice export
Rice prices have skyrocketed for the second time over the last decade, raising share prices. However, not all rice companies can benefit.
Anticipating that rice yield and output are nearly hitting the ceiling, Vietnam is preparing for a revolution in rice farming, striving for 1 million hectares of high-quality rice.
Vietnam has promoted agricultural modernization and investment via a public-private partnership (PPP) commodity-based working group.
Vietnam shipped 600,000 tons of rice in November, bringing the total volume and value of rice export in the year through November to nearly 6.7 million tons
The price of Vietnamese rice has increased by US$30 compared to before the ban to fetch $408-428 per tonne.
The export price of Vietnamese rice stands at the highest spot on global markets, some US$20-50 per ton higher than the rice prices of Thailand and India.
For the first time, ST25 rice from Vietnam was used in a "special lunch" at the Japanese Cabinet Office. And the "Vietnamese Rice" brand is also on the shelves of 4,000 supermarkets in France.
With India’s recent rice export restrictions, Vietnamese exporters expect to increase shipments and hike prices, industry insiders have said.
Viet Nam is expected to export between 6.5- 6.7 million tonnes of rice, bringing revenue of US$3.3 billion this year.
For the first time, Vietnam's ST25 rice has been used to process dishes on the menu of the Japanese Cabinet Office, Minister of Agricultural and Rural Development Le Minh Hoan has said at the recent government meeting.
The Thai government has announced that Thailand and Vietnam have reached an agreement to increase the price of domestically produced rice in the global market in the context of rising costs in rice production.