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Vietnam rice exports surge in January-April

Vietnam rice exports surge in January-April

Thursday, June 08, 2023, 10:29 GMT+7
Vietnam rice exports surge in January-April
Stevedores load bags of rice onto a barge in Vietnam. Photo: C. Quoc / Tuoi Tre

Vietnam exported 2.95 million metric tons of rice worth a combined US$1.55 billion in January-April, up 43.6 percent in volume and 54.4 percent in value over the same period last year, according to the Ministry of Industry and Trade.

The ministry has sent the prime minister a review of the country’s rice exports during the first quarter and forecasts for outbound rice sales for the rest of the year.

In April, the prices of 5-percent broken rice from Vietnam were quoted at US$483-487 per tonne, up roughly $35 month on month but lower than Thai broken rice exports by $5-10 per tonne.

The prices of Vietnamese fragrant rice, such as Jasmine, fetched $553-557 per tonne, improving some $10 versus March.

The export prices of Vietnamese rice in the first quarter remained stable, during which the price of 5-percent broken rice was higher than the grain from any other country, including Thailand and India, two top global rice exporters.

Vietnam reported substantial growth in rice shipments to its traditional markets during the same period.

It shipped 221,800 metric tons of rice to the Philippines, up nearly 55 percent year on year and 162,900 metric tons to neighboring China, an increase of 118 percent.

The country also witnessed a 25-fold year-on-year increase in rice exports to Chile, equal to 4,600 metric tons, and a 30-percent rise in the Singaporean market, equivalent to 6,400 metric tons.

The ministry revealed that the outbound sales of Vietnamese rice, particularly fragrant rice, in EU markets also rose, demonstrating that its quality is on the rise and able to meet the requirements of demanding markets.

The ministry estimated that Vietnam would export 3.85 million metric tons of rice in the first half of the year and some 6.6 million in the other half.

Regarding solutions to obstacles facing the rice export activities, the ministry suggested that competent agencies raise local rice traders’ awareness about free trade agreements, especially those related to traceability and phytosanitation.

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Hong Ngan - Ngoc An / Tuoi Tre News

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