Vietnamese rice now has the highest export prices, distinguishing itself from key competitors, including Thailand and Pakistan, whose prices have fallen.
Some Vietnamese rice export companies have won bids at prices lower than the export price on the world market, prompting questions about potential violations of the competition law.
Viet Nam''s rice exports to Europe continued to grow in the first quarter of 2022, thanks to the Europe-Viet Nam free trade agreement (EVFTA), according to the Ministry of Industry and Trade (MoIT).
The Viet Nam Food Association has proposed the Ministry of Industry and Trade to work with ports and localities to remove difficulties in the transportation of rice for export.
The Ministry of Agriculture and Rural Development reported the volume of rice exported reached 450,000 tonnes with a value of US$246 million last month.
Though the prices of Vietnamese 5-per cent broken white rice fell US$20 per tonne in a week, most local rice exporters said the decline would make sales easier.
Viet Nam’s rice exports have expanded during the pandemic to surpass rival Thailand in price for the first time in three decades, leading experts to suggest the sector should consolidate its position.
Viet Nam exported 560,000 tonnes of rice in January 2020, earning US$270.3 million, an increase of 12 per cent in volume and 39 per cent in value month-on-month.
After the Government took steps to prevent rice prices from falling in February, prices have started to inch up in the Cuu Long (Mekong) Delta – the granary of Viet Nam – though not by much.
A Vietnamese company has won a bid to export 60,000 tonnes of Japonica brown rice to South Korea, defeating competition from rivals of China, Thailand and Australia.