Vietnam exports huge rice haul over five-month period

03-Jul-2020 Intellasia | VOV | 6:02 AM Print This Post

The country earned $1.41 billion from exporting 2.9 million tonnes of rice over the first five months of the year, a rise of 5.1 percent in volume and 18.9 percent in value compared to last year’s figures, according to statistics released by the Agro Processing Market Development Authority.

The opening four months of the year saw the Philipppines take the lead as the largest importer of Vietnamese rice, making up 40.5 percent of the overall market share with 902,100 tonnes valued at $401.3 million, an increase of 11.4 percent in volume and 26 percent in value. Moreover, the value also went up in other markets such as China and Indonesia, a 2.7-fold increase, Taiwan (China), up 67.9%, and Ghana, with a rise of 39.3%.

Indeed, the average price of rice during the first four months of the year increased on year by 10 percent to $470.2 per tonne. The price of 5 percent broken rice hit yearly highs of between $450 and $460 per tonne.

In terms of the global market, the export price of Indian rice hit its highest level in recent years thanks to strong demand from African and Asian countries. Elsewhere, the price of Thai rice plunged due to drought and fierce competition from both Indian and Vietnamese suppliers.

Within the domestic market, the price of rice in the Mekong Delta underwent a slight increase, with the Vietnamese government allowing the export of rice through international border gates, road, rail, sea, waterways, and air.

Meanwhile, the price of rice in the Mekong Delta surged by VND200 to between VND5,500 and VND6,900 per kilogram, depending on their type.


Category: Economy, Vietnam

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