Two 'industry leaders' meet to propose the establishment of a National Rice Council.

Rice exports increased by 25.1% in the first seven months of 2024 (Illustrative image)

The meeting will revolve around the report proposing the establishment of a National Rice Council; exchanging, discussing, and contributing suggestions related to this issue.

Rice is one of Vietnam's key export commodities. According to the Ministry of Agriculture and Rural Development , in the first seven months of 2024, Vietnam exported 5.18 million tons of rice, equivalent to US$3.27 billion, an increase of 5.8% in volume and 25.1% in value compared to the same period in 2023.

This is partly due to the high export price of Vietnamese rice. The average export price of rice reached $632 per ton, an increase of more than 18% compared to the same period last year.

India's ban on the export of all types of milled rice, except for basmati white rice, has driven up rice prices on the world market. As a result, rice-exporting countries like Vietnam and Thailand have seen an increase in their rice export value.

According to the Ministry of Agriculture and Rural Development, in the first seven months of the year, the whole country planted 6.25 million hectares, an increase of 0.2% compared to the same period last year. The harvested rice area was 3.82 million hectares, an increase of 1.3%; the average yield was 65.6 quintals/hectare, an increase of 0.5 quintals/hectare. Production per harvested area was 25 million tons, an increase of 2%.

Specifically, the autumn-winter rice crop in the Mekong Delta provinces has been planted on 306,700 hectares, an increase of 11.7% compared to the same period last year.

Over the past week, according to traders, Vietnamese 5% broken rice was offered at $560 per ton on August 1st, compared to $550-$560 per ton a week earlier.