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Rice market and Trade in VietNam (Week 6/10 - 10/10)
15 | 10 | 2008
Opposite to price movement in April, Thailand and Vietnam’s export rice is devalued over 25% in the world market. Thailan’s rice prices decrease to 680 USD per ton from 1000 USD per ton, lower than Government’s expectation. Whereas, Vietnam’s rice prices are unlikely to be more optimistic, at 500 USD per ton for 5% borkens rice and 400 USD per ton for 25% broken rice.
Opposite to price movement in April, Thailand and Vietnam’s export rice is devalued over 25% in the world market. Thailan’s rice prices decrease to 680 USD per ton from 1000 USD per ton, lower than Government’s expectation. Whereas, Vietnam’s rice prices are unlikely to be more optimistic, at 500 USD per ton for 5% borkens rice and 400 USD per ton for 25% broken rice.

Vietnm’s rice price is down while domestic demand is up

Vietnamese import-export enterprises are continuing to find new markets, West and Central Africa are defined as potential markets for Vietnamese rice. However, Vietnam’s rice prices are likely to decrease slightly due to influences from world market movement. Price for 5% broken rice reaches 508 USD per ton, a decrease of 9 USD per ton against last week. Prices for 10%, 15% broken rice are down 2.4 USD per ton to 508 USD per ton compared to last week. Especially, price for 25% broken rice reaches 406 USD per ton, an increase of 4 USD per ton compared to last week.

According to Vietnam Food Association, rice export production reached 342,170 tons, turn-over reaches 211,222 billion USD in September 2008. Total amount of rice export from 1st January 2008 to 30th September 2008 reached 3,554,303 tons, turn-over reached 2.153 billion USD.



Source: AGRODATA, Information Center of Agricuture and Rural Development, Institute of Policy and Strategy for Agriculture and Rural Development,
www.agro.gov.vn

Thailand’s rice prices decrease due to saturated demand

In Thailand, 100,000 tons of 100% broken white rice have just offered at 420 USD per ton to Xe-ne-gan and Ivory Islands. However, demand on Thailand rice of Nigieria was down because traders stopped purchasing rice to expect new policies from the Government. Nigieria’s tax-free program for importing rice by May will finish in October. Thailand rice price will only decrease slightly next months owing to rice price support program from Government.

Price for Thailand’s 5% broken rice reaches 680 USD per ton, a decrease of 8 USD per ton compared to last week. Price for Thailand’s 10% and 15% broken rice reach 670 and 650 USD per ton respectively, an decrease of 8 USD per ton compared to last week. Only price for Thailand’s 25% broken rice is down 13 USD per ton to 624 USD per ton compared to last week.



Source: AGRODATA, Information Center of Agricuture and Rural Development, Institute of Policy and Strategy for Agriculture and Rural Development,
www.agro.gov.vn

World rice price will decrease slightly in the upcoming time

Financial crisis has negative impacts on decline of world economy and commodity market. Rice prices in Chicago future market decrease constantly this week. However, due to demand from West Africa and Middle East countries, world rice price are forecast to decline slightly although there are significant supplies from Thailand and Vietnam.

Quotation from "Vietnam’s rice market and trade” in 2nd week of October on webpage: agroinfo,
www.agro.gov.vn

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