Will Vietnam's rice exports be affected when India lifts the ban?

Xuất khẩu gạo Việt Nam có bị ảnh hưởng khi Ấn Độ gỡ bỏ lệnh cấm? - Ảnh 1. — According to the leader of the Ministry of Agriculture and Rural Development, India's upcoming lifting of the rice export ban will have an impact but it will not be too big - Photo: BUU DAU

Deputy Minister of Agriculture and Rural Development Phung Duc Tien commented on this when answering the press about the production and export situation of agricultural, forestry and fishery products in the first 9 months of 2024.

Commenting on India's lifting of the ban on rice exports, Mr. Tien said that Vietnam's rice industry has a certain market share in the international market as well as stable rice value and quality.

In the first 9 months of the year, we exported 1 million tons of rice, earning 4.37 billion USD, an increase of 23.5% over the same period last year.

"The ecosystem in the rice value chain linked to our market is relatively tight and methodical, so India's upcoming lifting of the rice export ban will have an impact, but it will not be too big," said Mr. Tien.

According to the Vietnam Food Association, the export price of 5% broken rice from Vietnam on October 3 was at 539 USD/ton - 10 - 40 USD/ton higher than that of Thailand, India, Myanmar, and Pakistan.

Similarly, Vietnam's 25% broken rice is also selling at the highest price of 510 USD/ton, while Thailand sells it at 493 USD/ton, India at 491 USD/ton, and Pakistan at 467 USD/ton.

Previously, from September 28, India issued an order to lift the export ban on non-basmati rice and set the minimum export price for this item at 490 USD/ton.

After India lifted the ban, the prices of 5% and 25% broken rice from Vietnam and countries like Thailand and Pakistan all tended to decrease by 15-50 USD/ton.

In 9 months, agricultural, forestry and fishery exports reached 46.28 billion USD

According to Deputy Minister Tien, in the first 9 months of 2024, the agricultural export value reached 46.28 billion USD, an increase of 21% over the same period last year, especially in September, exports reached 5.85 billion USD.

Due to the impact of floods and storms, especially after storm No. 3, agricultural damage was mainly in the northern provinces - these localities are not large in scale and exports have always been mainly from the southern and central provinces, so the export growth rate has been maintained and even increased over the first 8 months of the year.

The surplus value in the first 9 months of the year reached 13.9 billion USD, an increase of 71%, and the last three months of the year are favorable times for the agricultural sector to continue maintaining growth and export momentum.

Thus, the agricultural, forestry and fishery export target for the whole year of 2024 set by the Government and the Ministry of Agriculture and Rural Development of 55 billion USD is completely achievable, and if the current export momentum is maintained, it can even reach 60 billion USD.

Ấn Độ nới lỏng, xuất khẩu gạo Việt Nam có bị ảnh hưởng? - Ảnh 1.

Why does Thailand increase purchases of Vietnamese agricultural products?

As a world agricultural export powerhouse, once a model for Vietnam to learn from in agriculture, Thailand now has a huge demand for importing fresh vegetables and fruits from Vietnam.

Source: https://tuoitre.vn/xuat-khau-gao-viet-nam-co-bi-anh-huong-khi-an-do-go-bo-lenh-cam-20241004144805514.htm