Data from VFA shows that domestic rice prices in the last week of August (August 8-25) continued to be adjusted up from 31-8 VND per kg, depending on the type. In the domestic market, domestic rice prices are much higher than export prices. Therefore, they believe that export rice prices may soon increase again in the near future. Previously, many businesses in An Giang and Can Tho also negotiated with import partners in this country to propose a price of 680-700 USD per ton but did not receive agreement.īusinesses said rice exports to the Philippines will temporarily slow down, but demand for rice from China, Indonesia, Malaysia and Africa remains high. "Philippine partners said that if the rice price contracts are over 660 USD per ton, they will cancel, and if the rice price is below this price, delivery will be delayed," he said. Meanwhile, the Philippines imposes a ceiling price of about 900-738 USD per ton, lower than the import price. Currently, the price to buy rice at Vietnam's warehouse is about 40-640 USD per ton, if you add transportation costs, the price goes up to 670 USD per ton. Because these importers said that the more they sell, the more they will lose. Similarly, the director of a large rice export enterprise in An Giang said that since the beginning of September (one day after the Philippines' price ceiling order appeared), 9% of importers in this country have asked to cancel contracts. , others relax their contracts while waiting for a new decision from this country. (ORICO) - a rice exporter in the top 10 - said that after the above information, the business was asked to cancel shipments by some import partners from the Philippines. Nguyen Viet Anh, General Director of Orient Food Co., Ltd. The reason for imposing this order is due to the rapid increase in domestic retail prices in the Philippines and speculation. good, equivalent to 0,79-720 USD per ton. set a rice price ceiling at 8 pesos (41 USD) per kilogram for regular milled rice and 0,72 pesos (45 USD) per kilogram for milled rice. On August 31, Philippine President Ferdinand Marcos Jr. In the first 7 months of this year, Vietnam exported nearly 1,94 million tons of rice to this country, accounting for nearly 40% of Vietnam's total rice exports. The decline in export rice prices is said to be affected by the ceiling order of the Philippines - Vietnam's largest rice consumer. On the world market, Thailand's 5% rice also decreased by 15 USD to 618 USD per ton, and 25% broken rice decreased by 12 USD to 563 USD per ton compared to September 5. These are the two strongest consecutive declines since India banned rice exports. Accordingly, Vietnam's 9% broken rice is currently down 5 USD per ton compared to the September 15 session at 5 USD 9% broken rice also decreased by 628 USD to 25 USD per ton. The province of Quezon, on the other hand, is found southeast of Metro Manila, or the National Capital Region.ĭepartment of Agriculture assistant secretary Dante Delima said the 50,000kg for the US will be mainly heirloom rice from the Mountain Province, in the northern Philippines.Vietnam's export rice price decreased by 15 USD in the past two days due to Philippine businesses canceling and delaying import schedules following the order to limit rice prices by this country's officials.ĭata from the Vietnam Food Association (VFA) shows that from September 6-7, export rice prices continuously decreased sharply. The first export allotted for Dubai and Hong Kong is a combination of 30,000kg of long grain aromatic rice from Region 12 and black rice from Quezon province, and 20,000kg of brown and white SL-7 and SL-9 (Jasponica and Miponica).Ĭomprising the provinces of South Cotabato, Cotabato, Sultan Kurdarat and Sarangani, and the city of General Santos, Region 12 is located in central Mindanao, the country’s second-largest island. “It will be a progressive programme to export fancy rice where we can be competitive,” Department of Agriculture secretary Proceso Alcala said, according to a report on Philippines daily Manila Bulletin. The total value of the exports has been estimated to be US$100,000. The government said that the move was directed at boosting the country’s global trade. The total value of the rice exports by Philippines has been estimated to be US$100,000. The Philippines has exported 50,000kg of fancy rice to Hong Kong and Dubai in April, and preparing to export another 50,000kg to the US between July and August this year
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