Price of Vietnamese rice higher than Thai rice

Since mid February, the price of Vietnamese rice stood at US$460 per tonne, higher than the cost of Thai rice. Compared to the same period last year the price of Vietnamese rice rose by 77-82% while that of Thailand increased by 71-73%.

The Ministry of Industry and Trade said that export of Vietnamese rice is favourable due to limited supplies and growing demands worldwide. Experts forecast that many rice exporting countries, including Thailand, India and Pakistan will reduce their exports for fear of running short of food. Other countries like the Philippines, Indonesia, China and some African countries will increase their rice imports to make up for their shortage of wheat and corn.

Average rice yield in Mekong Delta provinces is between 6.5 and 7 tonnes per hectare and the price of rice has increased by VND1,000 per kilogram and tends to go up in the coming months.

This year Vietnam is expected to export around 4.5 million tonnes of rice, equal to last year’s volume. (VOV)