Vietnam loses rice export markets due to low price

Some businesses are now selling rice at low prices, creating opportunities for foreign entrepreneurs to fix prices, which damages the national economy and seriously affects the export of rice to some traditional markets.

According to the Vietnam Food Association’s regulations on rice pricing, five percent broken rice is being sold at US$400/tonne, 15 percent broken rice at US$360/tonne and 25 percent broken rice at US$350. However, many domestic businesses are selling rice at prices that are 5-7 percent lower than the fixed level.

The regulations state that businesses are not allowed to sign contracts with entrepreneurs who have already signed contracts with Vietnam in the four markets of the Philippines, Indonesia, Cuba and Malaysia. However, many businesses have sold rice at low prices to these markets, leading to a failure in the negotiations on exporting rice to these markets.

Therefore, it is necessary to punish businesses that disregard the country’s export rice pricing. 

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