The figures are the result of changes in the right direction, aiming to gradually reduce the volume but still stabilize and increase the value of Vietnamese rice. Minister of Industry and Trade Tran Tuan Anh said with huge competition coming from major rice exporting countries, Vietnam has proven its capacity and its rice product has shown its quality. The country’s exported rice structure saw a noticeable shift. White rice exports account for 51% of the total export revenue, while Jasmine and aromatic rice account for 32%, followed by glutinous rice and Japonica rice with 12% and 5%, respectively. Notably, low-quality rice accounts for only over 2% of the total export volume. Last year, witnessed the continuous increase of paddy rice and dried rice, therefore, the income of rice growers has increased, creating a driving force for them to participate deeper in the production chains and linkages with enterprises. In recent years, Viet Nam’s rice industry has paid more … [Read more...] about VN gains $3.15 billion from rice export in 2018
Rice exporters in vietnam
Vietnam pockets USD2.5 billion from rice exports in nine months
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
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 increase in value, volume
(VEN) - According to the Ministry of Industry and Trade, rice exports in the first five months of 2018 increased significantly. High prices Rice exports reached 452,000 tonnes for a value of US$347 million in May, bringing total volume and value in the first five months of the year to 2.66 million tonnes and US$1.45 billion, an increase of 13.9 percent in volume and 40 percent in value compared to a year ago. Nguyen Thi Mai Linh from the Ministry of Industry and Trade’s Agency of Foreign Trade attributed the export growth to two factors. She said demand for rice imports had grown in some markets in recent months, while growers were increasingly shifting to high-quality rice that now comprises up to 80 percent of rice export volume. Rice prices were higher against most export markets, with the highest reaching $US834.5 per tonne in Chile, followed by Belgium with US$660 per tonne, Australia with US$653.7 per tonne, Ghana with US$606.2 per tonne, the US with US$601.4 per … [Read more...] about Rice exports increase in value, volume
Vietnam’s rice exports jump in first six months
Rice export revenue is expected to hit $40 billion this year as prices of Vietnamese rice exceeded their Thai and Indian peers. According to the Ministry, in June 2018, prices of rice in Thailand and India went down. However, in June, the export price of Vietnam’s five percent broken rice was US$450 per ton, higher than that of India with $410 and Thailand $435. The Vietnam Food Association and the Ministry of Industry and Trade said that in the middle of May, prices of Vietnam’s five percent broken rice hit $458-462 per ton and it was the highest prices within four past years. The Ministry of Industry and Trade explained the fall in rice prices of Thailand and India because there was a decline in demand from their traditional markets and the supplies exceeded the demand in its major markets while prices of India’s rice exports went down because of poor consumption in Africa and Bangladesh. For instance, the average price of paddy (IR50404) in the Mekong Delta … [Read more...] about Vietnam’s rice exports jump in first six months
Vietnam rice exports notch volatile in Q1
Workers at Trung An Hi-Tech Farming JSC pack rice for export (Photo: VNA) Hanoi (VNS/VNA) - Vietnam’s rice exports faced an unpredictable first quarter this year, increasing in January, declining in February and recovering in March, according to the Ministry of Agriculture and Rural Development. An estimated 524,000 tonnes of rice were exported in January, with a total value of 249 million USD, reported the Ministry of Agriculture and Rural Development, representing a 49 percent rise in volume and 51.3 percent in value compared to December 2017. After declines in February, exports rose steeply in March, jumping 93.9 percent in volume and 100 percent in value to 338.44 million USD month-on-month. The rice export price also surged in March by 3.3 percent to 513.7 USD per tonne. The country’s overall rice exports in the first quarter of this year increased by 15.5 percent compared to the same period in 2017. The average rice export price in the first quarter of the current … [Read more...] about Vietnam rice exports notch volatile in Q1
Import demand continues boosting Vietnam’s rice export
Farmers dry unhusked rice in Hong Dan district, the Mekong Delta province of Bac Lieu (Photo: VNA) Hanoi (VNA) – High rice import demand from Vietnam’s major markets in the second quarter is expected to help exporters continue good overseas shipments in the first three months of this year. Some foreign news sources reported that in late March, the State Logistics Agency of Indonesia (Bulog) signed contracts to purchase 300,000 tonnes of rice from Vietnam and 200,000 tonnes from Thailand. This is the third time Indonesia has imported rice since the beginning of 2018. Chairman of the Vietnam Food Association (VFA) Nguyen Ngoc Nam confirmed the report, saying that Bulog invited the Vietnam Northern Food Corporation and the Vietnam Southern Food Corporation to supply the rice. This contract will be carried out from April to July this year. The Philippines, another major market, is also planning to import rice in large amounts in the second quarter, the VFA said, adding … [Read more...] about Import demand continues boosting Vietnam’s rice export
Positive signs promise good year for rice export
Rice bags are loaded onto a barge for shipment (Photo: VNA) HCM City (VNA) – Many rice export contracts continuing from 2017 and Indonesia’s import order at the year’s beginning amid limited rice supply are positive signs for Vietnam’s rice exports. According to the Vietnam Food Association (VFA), more than 5.7 million tonnes of rice was shipped abroad in 2017, surpassing last year’s target. There remain some 630,000 tonnes of rice under contracts signed last year to be shipped in 2018. While the remaining unsold rice volume is small, about 100,000 tonnes, the winter-spring harvest season has yet to reach its peak, leading to limited domestic supply. This is a reason behind Vietnam’s bid to sell only 141,000 tonnes of rice to Indonesia recently. Nguyen Ngoc Nam, Acting Director General of the Vietnam Southern Food Corporation (Vinafood 2) – one of the two Vietnamese firms winning the bid for rice export to Indonesia this time, said at … [Read more...] about Positive signs promise good year for rice export