{"id":19640,"date":"2024-07-22T01:43:51","date_gmt":"2024-07-22T01:43:51","guid":{"rendered":"https:\/\/vietnga.vn\/the-rice-market-is-highly-volatile-what-will-happen-in-the-final-months-of-the-year\/"},"modified":"2024-07-22T01:43:51","modified_gmt":"2024-07-22T01:43:51","slug":"the-rice-market-is-highly-volatile-what-will-happen-in-the-final-months-of-the-year","status":"publish","type":"post","link":"https:\/\/vietnga.vn\/en\/the-rice-market-is-highly-volatile-what-will-happen-in-the-final-months-of-the-year\/","title":{"rendered":"The rice market is highly volatile; what will happen in the final months of the year?"},"content":{"rendered":"

In the second quarter of this year, Vietnam’s rice export market<\/a><\/strong> decreased by 5.6% compared to the first quarter, but was still 15.4% higher than the same period last year. India’s consideration of easing rice export restrictions may lead to further price adjustments downwards in the near future; however, Vietnam’s rice industry is expected to remain favorable due to continued high market demand. <\/p>\n

\"The<\/p>\n

The domestic rice market has reached several records.<\/h3>\n

According to data from the General Department of Customs, Vietnam’s rice exports in the second quarter reached nearly 2.4 million tons, worth $1.46 billion, an increase of 8.4% in volume and 2.4% in value compared to the first quarter. Compared to the same period last year, there was a slight decrease of 0.6% in volume but a significant increase of 14.7% in value.<\/p>\n

In the first six months of the year, rice exports reached a record 4.55 million tons, generating nearly $2.9 billion in revenue, representing a 7.4% increase in volume and a 28.1% increase in value compared to the same period last year.<\/p>\n

The average export price of Vietnamese rice in the second quarter reached US$618 per ton, down 5.6% compared to the first quarter but up 15.4% compared to the second quarter of 2023. Compared to the peak price reached in January this year, the price of Vietnamese rice traded on the world market in recent months has decreased, but the overall level remains higher than in previous years. <\/p>\n

Overall, in the first six months of the year, the average export price of Vietnamese rice reached 635 USD\/ton, an increase of 19.3% compared to the same period last year.<\/p>\n

\"The<\/p>\n

In the domestic market, rice prices in the Mekong Delta also decreased by 5-10% in the second quarter. Thus, by the end of June and beginning of July, domestic rice prices had decreased by about 15-25% compared to the beginning of the year, but compared to the same period last year, paddy prices are still 5-8% higher and milled rice prices are 13-15% higher. <\/p>\n

Businesses predict that rice exports will improve towards the end of this year as demand for rice imports increases from Vietnam’s traditional customers. The Philippines, Indonesia, Malaysia, and China remain the main markets for Vietnamese rice. Vietnam is also actively expanding into new markets such as the Middle East, Africa, South America, South Korea, and Japan. <\/p>\n

If India abolishes or relaxes its rice export policy, a correction in world rice prices is understandable. However, global demand for rice remains high, and businesses can still boost rice exports from now until the end of the year. <\/p>\n

According to the experience of many export businesses, if India changes its rice export policy, it will do so gradually, avoiding negative impacts on the overall market. Rice export activities are expected to remain favorable because the types of rice and market segments consumed by Vietnamese businesses do not directly compete with India. The important thing is for Vietnamese businesses to carefully ensure rice quality and maintain export performance. <\/p>\n

In reality, although prices tend to fall, rice exports this year are still considered quite good, but not all businesses have benefited; there has been differentiation based on the specific characteristics of each industry, capacity, and operational efficiency.<\/p>\n

Source: Agriculture Newspaper<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

In the second quarter of this year, Vietnam’s rice export market decreased by 5.6% compared to the first quarter, but was still 15.4% higher than the same period last year. India’s consideration of easing rice export restrictions may lead to further price adjustments downwards in the near future; however, Vietnam’s rice industry is expected to … Read more<\/a><\/p>\n","protected":false},"author":14,"featured_media":12195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[348],"tags":[685,691],"acf":[],"_links":{"self":[{"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/posts\/19640"}],"collection":[{"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/comments?post=19640"}],"version-history":[{"count":0,"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/posts\/19640\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/media\/12195"}],"wp:attachment":[{"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/media?parent=19640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/categories?post=19640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/tags?post=19640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}