However, thanks to the activeness of enterprises, Vietnam’s rice export has had positive changes. Figures by the General Department of Vietnam Customs showed that in the first five months of this year, firms exported 2.76 million tons of rice, worth US$1.18 billion, a drop of 6.3 percent in volume and 20.4 percent in value compared to the same period last year. Mr. Phan Van Chinh, head of the Agency of Foreign Trade under the Ministry of Industry and Trade, said that the country’s rice export faced several disadvantages as there was no large enough contract to lead the market. Medium to large traditional markets of Vietnamese rice all cut rice exports due to various reasons. China had a large amount of rice inventory and even competed with other rice exporters, including Vietnam, by exporting old rice to African countries. Indonesia became subdued during the year of election while Bangladesh recovered rice production after suffering flooding. As a result, it is forecasted … [Read more...] about Vietnamese rice exporters look for new markets
Vietnamese rice exports
Good signals for Vietnamese rice exports
(VEN) - Vietnam has achieved impressive rice export results this year. Domestic companies have won bids to export rice to various markets. The number of government rice trade contracts has decreased while more commercial contracts have been signed. Rice exporters have gradually shifted the focus of their attention from quantity to quality. Changes in the structure of export products have increased the value of Vietnamese rice in the global market Increased value Ministry of Industry and Trade (MoIT) data show that Vietnam exported 5.7 million tonnes of rice worth US$2.86 billion in the first 11 months of 2018, up 16.8 percent in value compared with the same period last year. These results put rice on top of the list of agro-forestry-fishery products in terms of export value growth. In the first 10 months of 2018, Vietnamese rice was exported at prices averaging US$504 per tonne, up 12.3 percent compared with the same period last year. The structure of export rice … [Read more...] about Good signals for Vietnamese rice exports
Seminar discusses expanding Vietnamese rice exports
Illustrative photo (Source: VNA) Long An (VNA) – A seminar on expanding Vietnamese rice exports took place in the Mekong Delta province of Long An on December 21 within the framework of the third Vietnamese rice festival. Participants discussed market structures and measures to develop trademarks and affirm the position of Vietnamese rice on the international stage. Tran Quoc Toan – deputy head of the Ministry of Industry and Trade’s Department of Import-Export – said Vietnam is now the world’s third largest rice exporter, accounting for 15 percent of the global market share. Its rice has been shipped to 150 countries and territories worldwide. In the first 11 months of this year, total rice exports hit 5.64 million tonnes, worth 2.83 billion USD. According to Toan, Vietnam is facing fierce competition from other exporters in terms of technological application. Meanwhile, importers are diversifying supplies and demanding higher quality. He called … [Read more...] about Seminar discusses expanding Vietnamese rice exports
Vietnamese rice exports see constant growth
The Vietnamese rice sector has made strides and achieved positive results over the past few years, with annual rice exports accounting for approximately 15% of the total volume of global rice exports. However, the brands of Vietnamese rice are not yet known by the majority of foreign consumers. The Vietnamese rice sector will attempt to increase the volume of fragrant rice, specialty rice and Japonica rice The Ministry of Industry and Trade held the 10th World Rice Conference in Hanoi on October 10-12, in a bid to raise the value of Vietnamese rice. The conference attracted a large number of international speakers, leading global rice companies and financial consultants in the field. Vietnamese rice is present in 150 countries and territories worldwide The production and export of rice have played a crucial role in the socio-economic development of Vietnam, particularly in recent years, said Deputy Minister of Industry and Trade Do Thang Hai, at the opening ceremony of the World … [Read more...] about Vietnamese rice exports see constant growth
Vietnamese rice exports hit three year high
With good export growth in the early months of 2018, the total export volume of Vietnamese rice reached its highest level in three years. However, it is forecast that rice exports will likely face difficulties in the remaining months of the year. Total export volume of Vietnamese rice reached its highest level in three years According to the Vietnam Food Association (VFA), Vietnam exported over 4.88 million tonnes of rice as of September 11, 2018, the highest level for the same period over the past three years. In particular, the nine-month export volume also surpassed the total export volume of the whole of 2016 at 4.86 million tonnes. The statistics released by the Ministry of Agriculture and Rural Development (MARD) also show that Vietnam exported 4.4 million tonnes of rice in the first eight months of this year, up 6.8 pct over the same period in 2017. However, rice exports are predicted to encounter challenges in the last quarter of this year as Vietnamese rice exports … [Read more...] about Vietnamese rice exports hit three year high
Vietnamese rice exports to Malaysia soar over last five months
Rice inventory for export of the Dong Thap food company (Photo: VNA) Kuala Lumpur (VNA) – Vietnam shipped close to 122.4 million USD worth of rice products to Malaysia in the first five months of 2018, surging 177 percent from the same period last year. The sharp growth pushed rice to fourth place among the top five Vietnamese exports to Malaysia between January and May. These exports, whose revenue all exceeded 100 million USD, included phones and their component parts; computers, electronic devices and components; steel and iron products; and glass products. Talking to the Vietnam News Agency on the morning of July 3, Vietnamese Trade Counsellor to Malaysia Pham Quoc Anh said the increase of Vietnamese rice exports is a result of the decrease in rice supply from other countries to Malaysia. Vietnamese firms took the opportunity to boost shipments of aromatic and glutinous rice, in which Vietnam has a price advantage, he added. He said improved rice trade promotion … [Read more...] about Vietnamese rice exports to Malaysia soar over last five months
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
Wide door for Vietnamese rice export
According to the General Department of Vietnam Customs, rice export grew 23.8 percent in volume to over 2.2 million tons, earning 1.11 billion USD, up 39.7 percent in value in the first four months of this year, a high figure over the past five years. It was partly attributable to Vietnam’s winning of rice export contracts, including 141,000 tons in January and 300,000 tons in April to Indonesia, which will be delivered from May - July. During May, a number of export contracts from the private sector are expected to be signed with hundreds of thousands of tons in volume. Photo: VOV In early May, Vietnam won another contract of shipping 130,000 tons of rice to the Philippines. Apart from traditional markets, new markets such as Bangladesh, Turkey and Iraq also posted Vietnamese rice import growth, increasing from 11to 91 times in volume and from 16 to 61 times in value. During May, a number of export contracts from the private sector are expected to be signed … [Read more...] about Wide door for Vietnamese rice export
Vietnamese rice exporters facing fierce competition this year
Vietnam’s rice exporters are facing tough price competition in foreign markets this year due to large inventories and low demand. Vietnamese rice exporters compelled to lower prices to boost sales Truong Thanh Phong, Chairman of the Vietnam Food Association (VFA) said at a recent meeting in HCM City that, due to a lack of big contracts and the drop in rice prices on the world market, Vietnam’s rice export revenues fell sharply in the first quarter compared to the same period last year. “The country’s rice export prices in January decreased by between USD20 and USD30 per tonne compared from last December. This is due to lower demand and price competition,” Phong said. Export prices of 5% broken rice fell to to only USD395 per tonne, USD40-50 per tonne lower than prices fetched by rice produced in India and Pakistan, he noted. According to him, Vietnam’s major rice export markets include China, Indonesia, the Philippines and African … [Read more...] about Vietnamese rice exporters facing fierce competition this year
Vietnamese rice earns high export in 2017
NDO – Vietnam's rice export recorded a good year in 2017 as export volume reached 6 million tonnes, thanks to an increased demand on the world market.According to experts, Vietnamese rice has expanded its export market towards high quality. However, in order to achieve the export target of 4.5-5 million tonnes per year during 2017-2020, there is still much work to be done.According to the Ministry of Agriculture and Rural Development (MARD), last year the country exported about 6 million tonnes of rice, valued at US$2.66 billion, up 22.4% in volume and 23.2% in value over the same period in 2016.MARD Deputy Minister Ha Cong Tuan affirmed that the result is a great success. In early 2017, experts predicted that the year would be difficult for rice export due to a range of challenges from unresolved issues in the rice markets to the negative effects of climate change on rice production. Therefore, the goal set by the rice sector in 2017 was to export only 5 million tonnes, but by … [Read more...] about Vietnamese rice earns high export in 2017