Rice exports may be more optimistic in the near future. (Illustration image – Photo: Investment Newspaper)
Currently, the export market is quite stable, the demand is still high. Vietnam’s 5% broken rice exports, after rising to $425/ton in mid-April, to early May 2022, fell slightly to $415/ton, equivalent to the March average.
Overall asking price export rice of Vietnam, although it has increased and decreased from time to time, but the adjustment is not much. Currently, Vietnam’s 5% broken rice has increased again to 423 USD/ton, 25% broken rice is offered at 403 USD/ton and 100% broken rice is 378 USD/ton.
Although many businesses believe that, in the current period, keeping high rice prices stable is a difficult problem when the price of agricultural inputs is escalating day by day, causing farmers to face many difficulties, however, currently, the price of rice is increasing. Vietnam’s rice exports are quite good.
According to data from the Ministry of Industry and Trade, rice exports in May 2022 nearly doubled compared to the average level of the first four months of the year. With the increasing demand for rice from markets, it is forecast that Vietnam’s rice exports will continue to increase sharply in the last months of the year, especially to the Philippines and China markets, because China’s rice output is reduced due to The impact of floods and the Philippines’ rice stocks are falling sharply, which needs to be imported.
It is known that in the first 5 months of this year, rice exports to the Philippines market reached more than 1.2 million tons, an increase of more than 300,000 tons compared to the same period in 2021. These are considered good signs to help the market continue to prosper. .
From the sharp fluctuations in global rice demand, the Ministry of Industry and Trade forecasts that Vietnam’s rice exports will reach over 6.4 million tons, 200,000-300,000 tons higher than in 2021.
Rice exports may be more optimistic in the near future, when China’s demand for rice imports increases. In addition, the Philippines’ rice reserves are also at a low level, needing to import more is also a good opportunity for Vietnamese rice, although this market is facing stiff competition from cheap Indian rice.
According to the Ministry of Industry and Trade, if the average export volume of rice in the first 4 months of the year is about 500,000 tons per month, in May, the export volume of rice will reach 800,000 tons with a value of 386 million USD, bringing the total volume and value. rice exports in the first 5 months of 2022 reached 2.86 million tons and 1.39 billion USD, up 10.3% in volume.
at Blogtuan.info – Source: vtv.vn – Read the original article here