Currently, Jasmine rice from Vietnam is occupying a large market share in importing countries because it meets the strict import standards as well as the high-quality requirements from importers.
- 1 Brief introduction about Jasmine rice from Vietnam
- 2 Main locations cultivate jasmine rice from Vietnam
- 3 Competitive advantages of jasmine rice from Vietnam: flavors and prices in bulk
- 4 Factors affecting the price of Jasmine rice from Vietnam
- 5 Popular Jasmine rice from Vietnam suppliers
- 5.1 Sunrise Ins Group – a supplier of Jasmine rice from Vietnam
- 5.2 Foodcosa – Ho Chi Minh City Food Joint Stock Company
- 5.3 K-Agriculture Factory – one of the leading Jasmine rice from Vietnam suppliers
- 5.4 Viet Hung Company – a distributor of Jasmine rice from Vietnam
- 5.5 Loc Troi Group – an exporter of Jasmine rice from Vietnam
Brief introduction about Jasmine rice from Vietnam
Jasmine Rice is one of the most popular rice varieties today. Because of its aromatic characteristics, jasmine rice from Vietnam is currently chosen by many importers as a staple ingredient.
- Jasmine rice is produced from Jasmine 85 rice variety (IR841 – 85), originating from the Philippines, popularly cultivated in the Mekong Delta since 1992. Jasmine rice from Vietnam is a high-quality fragrant rice with large, long and white grains.
- Jasmine rice from Vietnam has appeared for a long time, is mainly cultivated in the south, especially in the Mekong Delta and it has attracted consumers with a number of striking characteristics such as rich nutrition, easy digestion and unique flavors. The export value of jasmine rice accounted for 32.9% of total turnover in 2020.
- Jasmine rice from Vietnam has the largest export markets in Iraq (18.8%), the Philippines (18.4%) and Ivory Coast (18.1%). Vietnamese rice suppliers are offering to sell Jasmine rice from Vietnam at an export price of 573-577 USD/ton, which is a very low price.
- The EU market is also considered to be very potential for jasmine rice from Vietnam when the EVFTA was implemented from August 1, 2020, giving very positive rice export results with a quota of fragrant rice up to 80,000 tons/year. Within the framework of the FTA – Eurasian Economic Union (EAEU), the countries of this bloc have committed to spend 10,000 tons of rice under tariff quotas for Vietnam in 2021.
Main locations cultivate jasmine rice from Vietnam
For high productivity, jasmine rice from Vietnam is mostly grown in the largest delta – Mekong Delta.
- The Mekong Delta, which covers more than 3.2 million hectares of rice-growing land and accounts for more than half of rice production and more than 90% of rice exports, not only ensures food security but also confirms Vietnam’s status as the world’s top rice exporter. In addition, top rice manufacturers in Vietnam also are located in this region due to its huge rice production volume.
- In this year’s summer-autumn crop, farmers in the Mekong Delta have actively changed the structure of varieties, promoting the production of high-quality rice for export. Accordingly, farmers here have brought jasmine rice from Vietnam to 29.3%, rising by 3.3% over the same period last year.
- Moreover, the winter-spring crop has favorable weather to produce fragrant rice, so the sowing rate of aromatic and specialty rice varieties such as jasmine rice from Vietnam accounts for the majority of the total sown area, with a high rate of sowing. rate up to 75.8%.
- The Mekong Delta Rice Institute is a unit that has made great contributions to the Government on sustainable development of the Mekong Delta to adapt to climate change with innovative rice varieties, so jasmine rice from Vietnam which belongs to the group of drought-tolerant rice varieties is suitable for this area more than the Red River delta or Central Vietnam.
Competitive advantages of jasmine rice from Vietnam: flavors and prices in bulk
Jasmine rice from Vietnam is a type of long grain rice, but it possesses some distinct features compared to others, including premium quality and reasonable price.
- Jasmine rice from Vietnam vs Jasmine rice from Thailand
Jasmine rice from Vietnam and Jasmine rice from Thailand are two big competitors in the market. The quality of jasmine rice is rather similar between the two nations when having a light, fluffy, delicate texture, and unlike many other glutinous “sticky” varieties, it does not stick together. However, the price of jasmine rice from Vietnam is 577 USD/ton while Thailand’s is much higher, 609 USD/ton, which makes several importers hesitate.
- Jasmine rice from Vietnam vs other Vietnamese fragrant rice
Vietnamese fragrant rice includes some famous brands like ST rice and OM 5451 rice. ST rice – leading rice from Vietnam has a characteristic scent, when eaten, it has a sweet taste and is very soft. When cooled, ST rice is still delicious and not hard. However, its main market is just China and its price is much higher than jasmine rice from Vietnam (770-1000 USD/ton) while besides China, jasmine rice is consumed much in the Philippines, Ghana, etc.
OM 5451 has an extended grain and a white milk color that is slightly opaque. The rice is medium and soft when cooked, with a subtle natural aroma. This type of rice has lower specifications than jasmine rice from Vietnam and it does not have the special aroma, so it is hard to conquer picky markets. Its price is 408 – 412 USD/ton and imported most by Philippines, East Timor, Africa.
Many wholesalers in Ivory Coast, Ghana, and the Philippines prefer jasmine rice from Vietnam because its price is more reasonable than jasmine rice from Thailand and Campuchia. In 2019, jasmine rice from Vietnam cost 597 USD/ton while the price of Thai jasmine rice and Cambodia jasmine rice is 950 USD/ton and 800 USD/ton respectively. Moreover, in picky markets like the EU, jasmine rice from Vietnam still satisfies strict export standards due to its high quality.
Factors affecting the price of Jasmine rice from Vietnam
Jasmine rice from Vietnam is subject to some outstanding elements, which makes its price fluctuate in every period.
Jasmine rice from Vietnam supply
Prices will change based on the volume of rice producers’ output. The wholesale price would rise if the overall rice production of rice manufacturers decreases. For example, in 2016, the price of jasmine rice from Vietnam was 486 USD/ton, and after 5 years, the price constantly rose and reached 514 USD/ton in 2020.
Demand for Jasmine rice from Vietnam
American consumer demand for specialty aromatic rice such as jasmine rice has steadily increased in recent decades due to changing demographics and consumer tastes. This is a big chance for jasmine rice from Vietnam to step into this market when imported rice now accounts for more than a quarter of total rice consumption in the US. Besides, countries like Ghana (accounting for 39% of the total export turnover of Vietnamese fragrant rice and jasmine rice), the Philippines always crave for jasmine rice from Vietnam.
Supporting policies for Jasmine rice from Vietnam
The Vietnamese government is trying to build good relationships with other countries to easily sign agreements to boost rice exports. In 2020, a Vietnamese rice supplier exported the first batch of jasmine rice to the European Union (EU) under the EU-Vietnam Free Trade Agreement (EVFTA), with a tax rate of 0%.
Affected by the 4th wave of the Covid-19 epidemic, rice exports dropped sharply because it broke out in many localities, which are major rice production areas. The price of Vietnam’s export rice has fallen to the lowest level in the past one and a half years. The price of Vietnam’s 5% broken jasmine rice from Vietnam was unchanged, staying at $390/ton last week – the lowest level since February 2020. Compared with the same time last year with the average price of 485 USD/ton, the current export price is nearly 100 USD/ton lower.
Popular Jasmine rice from Vietnam suppliers
One of Vietnam’s most important industries is rice export. As a result, there are many reliable jasmine rice exporters in Vietnam.
Sunrise Ins Group – a supplier of Jasmine rice from Vietnam
Sunrise Ins Group, which was founded in 2012, has developed a large distribution network in both the domestic and international markets. Sunrise Ins Group’s major product is Jasmine rice from Vietnam. In addition, the company sells a variety of rice varieties, including ST rice, KDM rice, Japonica rice, and medium-grain rice.
Foodcosa – Ho Chi Minh City Food Joint Stock Company
Foodcosa constantly strives to become one of the leading rice import and export companies in Vietnam. Currently, the company brings famous and quality rice products such as Jasmine rice from Vietnam, Huong Lua, Dong Xanh, which has built a solid trust in the hearts of domestic and foreign consumers. Foodcosa has contributed greatly to the introduction and promotion of specialty rice and premium rice along with the unique cuisine of Vietnam to the world.
K-Agriculture Factory – one of the leading Jasmine rice from Vietnam suppliers
K-Agriculture Factory is one of the top rice factories for those looking to buy Jasmine rice from Vietnam in bulk. With over 25 years of experience, K-Agriculture Factory is a reliable exporter with customers in Dubai, China, the United States, and other countries. They are pleased with the high quality of Jasmine rice from Vietnam and K-expert Agriculture’s services. K-Agriculture Factory teamed up with the Ministry of Industry and Trade in 2020 to launch a nationwide project aimed at bringing the best Vietnamese agricultural products to the worldwide market.
If you are interested in K-Agriculture’s products, feel free to contact us via:
Viet Hung Company – a distributor of Jasmine rice from Vietnam
Viet Hung Company currently has 3 finished rice processing factories, 1 20,000 tons rice mill and 5 specialized barges. Viet Hung has gradually quickly affirmed its name and brand in the domestic rice market as well as the export market with quality Jasmine rice from Vietnam that meets international standards and shipping services.
Loc Troi Group – an exporter of Jasmine rice from Vietnam
Loc Troi Group has become a pioneer in selling the best Jasmine rice from Vietnam in the 28 years since its founding. Many Loc Troi Group products, such as Jasmine rice from Vietnam, are now sold in more than 40 countries. To improve rice quality, the company uses innovative technologies in rice processing and collaborates with farmers to develop rice-growing abilities while also protecting the environment.
Jasmine rice from Vietnam, with several advantages, easily conquers picky customers and becomes a leading product in the rice market.