Vietnam wins bid to export 300,000 tons of rice to Indonesia
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Seven Vietnamese firms have won a bid to export 300,000 tons of rice to Indonesia, or more than half the volume that country’s plans to import in January.
Their lowest quote was US$648 per ton, including transportation costs.
Earlier this year Indonesia said it wanted to import 500,000 tons of rice in January to increase its food reserves.
Last year it imported more than one million tons of Vietnamese rice, making it the second biggest customer.
According to the Vietnam Food Association and the Thai Rice Exporters Association, the current export prices of standard 5% broken rice are $656 per ton in Thailand, $642 in Vietnam and $638 in Pakistan.
Last year Vietnam exported eight million tons of rice to rank third in the world after India and Thailand.
Questions & Answers
Q.How much rice does Indonesia plan to import in January and how much of that volume will come from Vietnam?
How much rice does Indonesia plan to import in January and how much of that volume will come from Vietnam?
Indonesia plans to import 500,000 tons of rice in January to increase its food reserves. Vietnamese firms will supply 300,000 tons, which is more than half the total volume.
Q.What price did the Vietnamese firms quote for the rice, including transportation costs?
What price did the Vietnamese firms quote for the rice, including transportation costs?
The Vietnamese firms quoted a lowest price of US$648 per ton for the rice. This price is stated to include all transportation costs.
Q.How does Vietnam's rice export price compare to other countries for standard 5% broken rice?
How does Vietnam's rice export price compare to other countries for standard 5% broken rice?
Vietnam's current export price for 5% broken rice is $642 per ton. This is lower than Thailand's price of $656 per ton, but higher than Pakistan's $638 per ton.
Q.What was Vietnam's global ranking in rice exports last year and how much did it export?
What was Vietnam's global ranking in rice exports last year and how much did it export?
Last year, Vietnam exported eight million tons of rice globally. This volume placed Vietnam third in the world for rice exports, behind India and Thailand.
Reader pulse
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