With abundant reserves, India's opening to rice exports will cause the market to fall sharply, especially supplies from countries such as Pakistan, Thailand and Myanmar. The above information immediately affected the export price of rice in the world. Vietnam's 5% broken white rice decreased by 2 USD to 532 USD/ton. Thai rice of the same grade decreased by 1 USD to 510 USD/ton. Meanwhile, Indian rice is 488 USD/ton and Pakistani rice is only 476 USD/ton.

However, this was only due to the temporary psychological impact that the world rice supply would increase. A few days later, rice prices returned to normal. Although India has allowed the export of white rice again, this type of Indian rice belongs to a different segment and market share, which does not have much impact on Vietnamese rice. Vietnamese rice currently has a relatively stable market share, value, and quality in the world market.

Explaining this further, Mr. Nguyen Van Thanh, Director of Phuoc Thanh IV Production and Trading Company Limited (Vinh Long Province) said: “Vietnam does not have much rice in stock and from now until the end of the year, we only have the autumn-winter-spring crop, with low output and focusing on fragrant rice and specialty rice to serve the domestic Tet season; not overlapping with the popular rice segment of India. Currently, the structure of Vietnam's rice is nearly 80% high-quality varieties, not overlapping with the segment of India”, Mr. Thanh commented.

Currently, Vietnam's rice structure is nearly 80% high-quality rice varieties, not overlapping with India's segment.

Previously, the representative of the Vietnam Food Association also said that the rice exported by India is blooming rice, this rice segment was previously available in Vietnam, but the main market for this type of rice was mainly Africa. However, recently, Vietnam's rice growing regions have changed rice varieties to fragrant sticky rice and the main markets are the Philippines, Indonesia, Malaysia, European and Middle Eastern markets...

Experts also commented that, for one of the world's largest rice importing markets, the Philippines, Vietnamese rice has many advantages over India. First of all, in terms of logistics, Vietnamese rice exported to Southeast Asian markets in general and the Philippines in particular has lower costs, faster delivery, and better payment. Moreover, Southeast Asian consumers currently prefer Vietnamese rice. Currently, Vietnamese rice exported to Malaysia and the Philippines is fragrant and sticky rice, this variety is widely grown because of its effectiveness in resisting pests and diseases, accounting for 60-65% of the cultivated area in the Mekong Delta.

The representative of the Director of the Department of Crop Production (Ministry of Agriculture and Rural Development) said that the unit will coordinate with the Ministry of Industry and Trade to comprehensively assess the impact of India's rice export management policy. The consistent viewpoint of the agricultural sector in developing rice in the coming time is to produce according to plan, depending on market demand and ensuring the interests of farmers and businesses in the sustainable value chain, not chasing quantity.