Data from the Vietnam Food Association showed that on October 13, the prices of 5% broken rice and 25% broken rice from Thailand were stable at $581/ton and $533/ton, respectively. Similarly, the prices of the same type of rice from Pakistan were also maintained at $563/ton and $483/ton, respectively.

Meanwhile, Vietnam's rice export prices continued to increase and remained at the highest level in the world. Specifically, the export prices of 5% and 25% broken rice both increased by 5 USD/ton, to 623 USD/ton and 608 USD/ton, respectively.

At this price, Vietnam's 5% broken rice is 42 USD/ton higher than the same type of Thai rice and 60 USD/ton higher than Pakistan's. Vietnam's 25% broken rice is also 75 USD/ton higher than Thai rice and 125 USD/ton higher than Pakistan's.

The above data shows that after a few sharp declines, our country's rice export prices have increased again, approaching the peak of 643 USD/ton (the 5% rice price set on August 31).

Notably, the rice export market continues to be vibrant in the last months of this year.

Most recently, the Vietnam Trade Office in Indonesia reported that, following the announcement by Indonesian President Joko Widodo on October 8 that the country will need an additional 1.5 million tons of national rice reserves from now until the end of 2023 (in addition to the 2 million tons of rice reserves imported since the beginning of the year), the Indonesian Acting Minister of Agriculture also confirmed that Vietnam and Thailand will be the two main rice suppliers for the upcoming purchase of 1.5 million tons of rice.

The head of the National Logistics Agency - Preum Bulog (the agency designated by the Indonesian Government as the rice importer) said that all necessary permits for the import of 1.5 million tons of rice have been issued by the relevant authorities of the country and the import will be carried out starting from the end of October 2023.

Preliminary statistics from the General Department of Customs show that last September, Indonesia became the largest customer of Vietnamese rice when it spent 101.4 million USD to buy 166 thousand tons of rice from our country, 53 times higher than in September 2022.

In the first 9 months of 2023, the value of rice exports to this market reached 462.6 million USD, an increase of 1,796% over the same period last year. Accordingly, Indonesia became the 3rd largest customer, accounting for about 13% of our country's total export turnover in the past 9 months.

Some rice exporting enterprises said that the demand for rice in the market is still high, but domestic rice supply is not much because it is the end of the season. Therefore, enterprises do not dare to sign new export contracts if they have not prepared the goods.