{"id":19684,"date":"2023-11-02T02:37:45","date_gmt":"2023-11-02T02:37:45","guid":{"rendered":"https:\/\/vietnga.vn\/high-demand-causes-vietnamese-rice-prices-to-soar-again\/"},"modified":"2023-11-02T02:37:45","modified_gmt":"2023-11-02T02:37:45","slug":"high-demand-causes-vietnamese-rice-prices-to-soar-again","status":"publish","type":"post","link":"https:\/\/vietnga.vn\/en\/high-demand-causes-vietnamese-rice-prices-to-soar-again\/","title":{"rendered":"High Demand Causes Vietnamese Rice Prices to Soar Again"},"content":{"rendered":"<p>Currently, export rice prices have increased significantly compared to July and reached a peak of $643\/ton on October 28, 2023 (the highest in the past 15 years).<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_67_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >PH\u1ee4 L\u1ee4C<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/vietnga.vn\/en\/high-demand-causes-vietnamese-rice-prices-to-soar-again\/#1_Rice_prices_have_risen_and_are_predicted_to_continue_rising\" title=\"1. Rice prices have risen and are predicted to continue rising.\">1. Rice prices have risen and are predicted to continue rising.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/vietnga.vn\/en\/high-demand-causes-vietnamese-rice-prices-to-soar-again\/#2_Reasons_for_rice_price_increases_and_scenarios_for_the_Vietnamese_rice_market\" title=\"2. Reasons for rice price increases and scenarios for the Vietnamese rice market.\">2. Reasons for rice price increases and scenarios for the Vietnamese rice market.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/vietnga.vn\/en\/high-demand-causes-vietnamese-rice-prices-to-soar-again\/#21_Developments_in_the_global_rice_market_are_contributing_to_the_increase_in_Vietnamese_rice_prices\" title=\"2.1. Developments in the global rice market are contributing to the increase in Vietnamese rice prices.\">2.1. Developments in the global rice market are contributing to the increase in Vietnamese rice prices.<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/vietnga.vn\/en\/high-demand-causes-vietnamese-rice-prices-to-soar-again\/#22_The_current_situation_of_rice_in_Vietnam_and_future_rice_market_scenarios\" title=\"2.2. The current situation of rice in Vietnam and future rice market scenarios.\">2.2. The current situation of rice in Vietnam and future rice market scenarios.<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"1_Rice_prices_have_risen_and_are_predicted_to_continue_rising\"><\/span>1. Rice prices have risen and are predicted to continue rising.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As Viet Nga Fertilizer has mentioned in previous articles, <a href=\"https:\/\/vietnga.vn\/infographic-toan-canh-con-sot-lua-gao-toan-cau-nam-2023\/\" target=\"_blank\" rel=\"noopener\">r<strong>ice prices<\/strong> <\/a>in 2023 are predicted to increase significantly due to several reasons.<\/p>\n<p>In reality, the price of fresh paddy rice purchased at fields and warehouses is increasing daily, according to reports from the Department of Agriculture and Rural Development. In the domestic market, the price of dried paddy rice has reached 14,000 VND\/kg in the North and 15,000 VND\/kg in the South. Fresh Dai Thom and Nang Hoa rice varieties have also reached a price of 9,000 VND\/kg.  <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/vietnga.vn\/wp-content\/uploads\/2023\/11\/Bieu-do-gia-lua.png\" alt=\"vietnga.vn - rice price chart \" width=\"1400\" height=\"788\" title=\"\"><\/p>\n<p><em>Price trends of 5% broken rice from Vietnam and Thailand during the period from July 2023 to October 2023.<\/em><\/p>\n<p>In the international market, Vietnam&#8217;s rice exports are trending upwards, while those of other exporting countries such as Thailand and Pakistan have seen sharp declines (down up to $100\/ton). Consequently, Vietnamese rice is currently 13% and 16% more expensive than its competitors, respectively. <\/p>\n<p>According to predictions, rice prices will continue to rise in the near future due to the influence of many factors, especially the relationship between supply and demand for rice production.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"2_Reasons_for_rice_price_increases_and_scenarios_for_the_Vietnamese_rice_market\"><\/span>2. Reasons for rice price increases and scenarios for the Vietnamese rice market.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"21_Developments_in_the_global_rice_market_are_contributing_to_the_increase_in_Vietnamese_rice_prices\"><\/span>2.1. Developments in the global rice market are contributing to the increase in Vietnamese rice prices.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Currently, Vietnamese fragrant rice is of high quality and therefore favored worldwide. Several factors, such as the impact of El Nino causing a significant decline in food production and India&#8217;s rice export restrictions, have led to a sharp increase in global demand for rice. In particular, the demand from countries like Indonesia, the Philippines, and China \u2013 familiar export markets for Vietnam \u2013 is expected to cause rice prices to continue rising.  <\/p>\n<p>India&#8217;s rice export restrictions alone are one of the factors driving up rice prices not only in Vietnam but also worldwide.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/vietnga.vn\/wp-content\/uploads\/2023\/11\/z4842827881983_952b710c13a70d7b7e3195d1c45da416.jpg\" alt=\"rice export ban\" width=\"843\" height=\"1280\" title=\"\"><\/p>\n<p><em>The order restricting rice exports was issued on October 31, 2023. <\/em><\/p>\n<p>Although the aim is to ensure output standards for rice shipments, guarantee national food security, and protect consumer health, the order has made rice exporters in India hesitant. Besides the complete ban on all non-Basmati white and broken rice, exporting Basmati rice requires meeting specific grain size standards. For parboiled rice and brown rice, an additional 20% tax must be paid before export.  <\/p>\n<h4><span class=\"ez-toc-section\" id=\"22_The_current_situation_of_rice_in_Vietnam_and_future_rice_market_scenarios\"><\/span>2.2. The current situation of rice in Vietnam and future rice market scenarios.<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>In our country, the autumn-winter rice crop does not yield a high harvest, so the supply for export from now until the end of the year is limited.&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/vietnga.vn\/wp-content\/uploads\/2023\/11\/z4776252829932_7b3a642262107debf942055571a0be52.jpg\" alt=\"export rice prices\" width=\"588\" height=\"360\" title=\"\"><\/p>\n<p><em>In the first nine months of 2023, Vietnam exported 6.6 million tons, equivalent to $3.66 billion. (Image source: Government Newspaper) <\/em><\/p>\n<p>According to the Ministry of Agriculture and Rural Development, if rice prices remain stable as they are now, Vietnam could export approximately 7.8 million tons of rice by the end of 2023, generating revenue of around 4.2 &#8211; 4.5 billion USD. This would significantly surpass the 2011 record for rice export revenue, both in terms of quantity and quality. <\/p>\n<p><em>Source: VnExpress.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Currently, export rice prices have increased significantly compared to July and reached a peak of $643\/ton on October 28, 2023 (the highest in the past 15 years). 1. Rice prices have risen and are predicted to continue rising. As Viet Nga Fertilizer has mentioned in previous articles, rice prices in 2023 are predicted to increase &#8230; <a title=\"High Demand Causes Vietnamese Rice Prices to Soar Again\" class=\"read-more\" href=\"https:\/\/vietnga.vn\/en\/high-demand-causes-vietnamese-rice-prices-to-soar-again\/\" aria-label=\"More on High Demand Causes Vietnamese Rice Prices to Soar Again\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5753,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[348],"tags":[691],"acf":[],"_links":{"self":[{"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/posts\/19684"}],"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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/comments?post=19684"}],"version-history":[{"count":0,"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/posts\/19684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/media\/5753"}],"wp:attachment":[{"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/media?parent=19684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/categories?post=19684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vietnga.vn\/en\/wp-json\/wp\/v2\/tags?post=19684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}