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Broken rice export value on the rise in November: VFA

Update: December, 06/2013 - 08:50
The association attributed the rise to higher domestic rice prices and the impact from a recently-signed contract to supply 500,000 tonnes to the Philippines.— File Photo

HA NOI (VNS)— The price of Viet Nam's 5 per cent broken rice increased US$25 per tonne in November, to fluctuate between $390 and $415, according to the Viet Nam Food Association (VFA).

The association attributed the rise to higher domestic rice prices and the impact from a recently-signed contract to supply 500,000 tonnes to the Philippines.

Meanwhile, industry experts said export prices should remain at about $420 per tonne until the end of January 2014.

However, the average export price for the first 11 months of this year still showed a decrease of $14.53, compared to the same period last year.

The domestic price of rice has surged VND350 per kilo, as the Winter-Spring crop harvest is over, and exporters try to secure supplies for a large contract with the Philippines.

This led to Viet Nam's price currently being higher than the world average, and the highest among Asian suppliers, including Thailand.

In November, 58.82 per cent of Viet Nam's rice exports went to Asian countries, 29.03 per cent to Africa, 7.02 per cent to Europe and 3.48 per cent to the American continent.

From January to November 30, 2013, Viet Nam exported 6.143 million tonnes of rice, worth $2.647 billion, down 13.37 per cent in volume and 16.19 per cent in value year-on-year.

The country shipped a record 7.72 million tonnes of rice, earning $3.45 billion in 2012. — VNS

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