Vietnam exports nearly 5 million tonnes of rice in the first nine months of 2018 (Source: VNA) China remained the largest importer of Vietnamese rice, accounting for 23.2 percent of the total, according to the Agro Processing and Market Development Authority under the Ministry of Agriculture and Rural Development. The price of the grain during January-August was averaged at USD504 per tonne, a year-on-year rise of 14.6 percent. Markets posting surges in the price included Indonesia, Iraq, the Philippines and Malaysia. Analysts predicted that the domestic rice market would thrive in the fourth quarter of this year thanks to increasing demand from such importers as the Philippines, the Republic of Korea (RoK), Nigeria and Egypt. Egypt has recently agreed to import 1 million tonnes of white rice from Vietnam in the next three to four months after it reduced some the area for the cultivation of the grain due to a lack of water. Typhoon Mangkhut, which hit the Philippines in mid-September, … [Read more...] about Vietnam pockets USD2.5 billion from rice exports in nine months
Rice exporters in vietnam
Vietnam pockets 2.5 billion USD from rice exports in nine months
Vietnam exports nearly 5 million tonnes of rice in the first nine months of 2018 (Source: VNA) Hanoi (VNA) – Vietnam shipped nearly 5 million tonnes of rice abroad in the first nine months of this year, earning 2.5 billion USD, up 8.5 percent in volume and 23.2 percent in value year-on-year, statistics show. China remained the largest importer of Vietnamese rice, accounting for 23.2 percent of the total, according to the Agro Processing and Market Development Authority under the Ministry of Agriculture and Rural Development. The price of the grain during January-August was averaged at 504 USD per tonne, a year-on-year rise of 14.6 percent. Markets posting surges in the price included Indonesia, Iraq, the Philippines and Malaysia. Analysts predicted that the domestic rice market would thrive in the fourth quarter of this year thanks to increasing demand from such importers as the Philippines, the Republic of Korea (RoK), Nigeria and Egypt. Egypt has recently agreed to import … [Read more...] about Vietnam pockets 2.5 billion USD from rice exports in nine months
Optimistic outlook forecast for rice exports in Q4 of 2018: report
Optimistic outlook forecast for rice exports in Q4 of 2018: reportThe Saigon Times Daily Rice is packaged for export at a plant of Trung An Hi-Tech Farming JSC in Can Tho City - PHOTO: VNA HCMC – Vietnam’s rice export prospects in the fourth quarter of this year are forecast to be bright after a four-month decline triggered by low demand, according to news website Vietnamplus. Rice export stagnation According to a report by the Ministry of Agriculture and Rural Development, the country exported some 441,000 tons of rice, worth US$209 million, last month, taking the total in the January-August period to 4.4 million tons, worth US$2.2 billion, up by 6.8% in volume and 22.1% in value year-on-year. The average rice export price between January and July was US$507 per ton, up by 14.8% against the year-ago period. Overall, rice exports in the first eight months of the year maintained their growth tempo compared with the same period last year. However, the demand for … [Read more...] about Optimistic outlook forecast for rice exports in Q4 of 2018: report
Bright prospect predicted for rice exports in Q4
Vietnamese rice exports are expected to revive in the last quarter of the year. (Photo: VNA) HCM City (VNA) – Vietnamese rice exports are expected to revive in the last quarter of the year following four months of stagnation, boosted by new purchase demand in some markets. Tough seas for Vietnamese rice In the first eight months of the year, Vietnam earned 2.2 billion USD from exporting 4.4 million tonnes of rice, a year-on-year surge of 22.1 percent in value and 6.8 percent in volume. Despite the robust growth in the period, rice exporters said that rice market has been stagnant since the end of May as demand for Vietnamese rice declined in such traditional markets as China, Indonesia and the Philippines during Quarter II and Quarter III. Thai rice, which was sold at low price, really worried Vietnamese exporters. Not many rice consumption contracts were signed during the period as Vietnamese rice became less competitive. According to Nguyen Van Don, director of Viet Hung … [Read more...] about Bright prospect predicted for rice exports in Q4
Rice exports rely too much on government policy: expert
Government policies encouragethe production of low-quality rice at the expense of high-quality riceproducers, affecting the country’s competitiveness, according to oneexpert. Dr. Alan Phan, a well-knownoverseas Vietnamese fund manager, said, “The government focuses onproducing low-quality rice for export to China, leaving the countrystruggling to find new market as demand from China falls." Dr. Alan Phan says the government meddles too much in the rice export markets Currently, Vietnam is facingfierce competition to find markets for rice exports as Thailand opens upits rice store with a capacity of 20 million tonnes and the country maysell its rice at prices much lower than Vietnam’s. This would obviouslyaffect Vietnam’s rice export market, especially in the major market ofChina.Several other countries in the world have also boosted rice exports, addition to the competition. Vietnamese workers packaging rice for export “The … [Read more...] about Rice exports rely too much on government policy: expert
Rice exports beat low expectations in 2017
According to the Ministry of Industry and Trade, the level of rice exports in December was estimated at around 400,000 to 450,000 tonnes, bringing the total export volume for the entire year to 5.9 to 6 million tonnes, over 1 million tonnes higher than last year’s figure. A recent update from the General Department of Customs showed that as of 15th December, the level of rice exports reached 5.66 million tonnes, worth around US$2.6 billion. This figure represents a rise of 20.9% in volume and 23.8% in value over the same period last year. In 2016, the level of rice exports was only 4.9 million tonnes, worth US$2.2 billion. After disappointing results in 2016, the sector has set a modest target to export 5 million tonnes of rice in 2017, due to an anticipated decline in demand and changes to the rice import policies of destination markets. However, the demand for rice in many markets, such as China, Malaysia, the Philippines and the Republic of Korea, increased significantly … [Read more...] about Rice exports beat low expectations in 2017
Rice exports exceed 2017 targets
Contrary to forecasts earlier this year that rice exports would face a host of difficulties, figures from the Ministry of Industry and Commerce (MoIT) show that exports have actually exceeded targets. Volume passes annual target in November, in a year when rice exports were widely expected to struggle Rice exports in the first eleven months of 2017 reached 5.52 million tons worth $2.49 billion, up 24.1 per cent and 24.9 per cent, respectively, year-on-year.Exports are expected to total 400,000-450,000 tons in December, bringing the total volume for 2017 to 5.9-6 million tons, an increase of 1.1-1.2 million tons compared to 2016.2017 is therefore considered a successful year for the rice sector, given the export target was set at 5 million tons at the beginning of the year. The market was expected to face difficulties stemming from many importing countries turning to self-sufficiency. Many of Vietnam’s major markets in Southeast Asia are gradually changing their rice import … [Read more...] about Rice exports exceed 2017 targets
Economists say Vietnam focuses too much on rice exporting
VietNamNet Bridge - Vietnam is still gathering strength on rice production, taking pride as the biggest rice exporter in the world. Hoang Ngoc Phong, deputy director of the Economic Development Consultancy Center, said the Mekong Delta makes up 18 percent of GDP with 90 percent of rice exports, 60 percent of seafood and 70 percent of fruit exports. However, the delta now has to pay the penalty for massive exploitation and poor development plans.Phong stressed that it is necessary to find a new direction for the delta development by changing the agricultural production model. … [Read more...] about Economists say Vietnam focuses too much on rice exporting
Vietnam Shines Thanks To Rice Export
Vietnam Shines Thanks To Rice ExportBy Nguyen Dinh BichVietnam’s rice export is the first impressive achievement of the country’s reform, on both external and internal fronts. If shortcomings are eradicated, the results reaped will be all the more astounding.Before APEC Hanoi took place and Vietnam joined the World Trade Organization, Raymond F. Burghardt, former U.S. ambassador to Vietnam, said that it was remarkable for Vietnam to turn from a rice importer 20-25 years earlier into one of the world’s leading rice exporters. This shift occurs when the global market for rice is extremely volatile and food security becomes a pressing concern.Figures from the U.S. Department of Agriculture (USDA) show that global rice output per capita has increased rather slowly, from 50kg half a century ago to only 66kg at present. The figures for wheat are 77kg and 95kg, which are remarkably higher.This being the case, countries will cling to whatever rice they can produce and only … [Read more...] about Vietnam Shines Thanks To Rice Export
Rice falls after Vietnam secures Philippines contract
Rice falls after Vietnam secures Philippines contractTrung Chanh CAN THO - Prices of rice and paddy (unhusked rice) on the domestic market have skidded against late last month though Vietnam won a government-to-government contract to provide the Philippines with 150,000 tons of 25% broken rice at a tender on August 31. Rice and low-grade paddy IR 50404 have dipped by VND200 per kilo against late August to VND6,000-6,100 per kilo and VND4,200-4,300 per kilo, respectively. Nguyen Thanh Phong, director of Tien Giang-based Van Loi Company, said the volume of rice which Vietnam will sell to the Philippines is much lower than expected, and that exporters have stocked up on large volumes of rice. “The rice volume which companies can sell at the moment is far higher than that Vietnam will deliver to the Philippines in September and October. Therefore, the falls in paddy and rice prices are inevitable,” he said. Ngo Ngoc Yen, director of Yen Ngoc rice firm in HCMC, shared … [Read more...] about Rice falls after Vietnam secures Philippines contract