Indonesia’s National Logistics Agency has released a tender for September rice procurement, inviting bids for up to 450,000 tons of rice—the highest invitation to tender to date. The tender specifies 5% white rice produced in the 2024 crop year (milled no more than 6 months ago) and requests that the rice originate from Vietnam, Thailand, Myanmar, Cambodia, or Pakistan. Delivery of the rice is expected to take place in October and November.
Indonesia is a key market for Vietnamese rice, being the second-largest importer as of the first half of this year, with a 44% growth rate compared to the same period last year. This amounts to nearly 709,000 tons of imported rice from Vietnam.
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| Exported rice to Indonesia by Loc Troi Group – Photo LTG |
In related news, India has recently lifted its minimum export price policy for basmati rice, which was implemented in July 2023 to prevent the export of non-basmati white rice—a variety that is banned from export. The minimum export price for basmati rice was initially set at $1,200 USD but was later reduced to $950 USD. This policy shift comes as India’s largest rice harvest of the year gets underway.
According to the Vietnam Food Association (VFA), the export price of 5% white rice from Vietnam is currently at $563 per ton, on par with Thailand and $26 per ton higher than Pakistani rice of the same grade. This price is slightly lower than the late August figure, which was around $10 per ton higher.
Customs data for August shows that Vietnamese enterprises exported 837,000 tons of rice, earning $502,000 USD. This represents a 6% decrease in volume and a near 5% decrease in value compared to the same period last year. Cumulatively, in the first eight months of this year, Vietnam exported 6.06 million tons of rice, earning nearly $3.8 billion USD. This reflects a 4.7% increase in volume and a 20.5% surge in value.
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The Best Just Got Better: Vietnam’s Rice Triumphs Again
Indonesia, the second-largest importer of Vietnamese rice, has just announced a tender for nearly half a million tons of rice, with delivery requested in October and November.
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