Illustrative image (Source: VNA)Hanoi (VNA) – An estimated 524,000 tonnes of rice was exported in January,bringing home 249 million USD, reported the Ministry of Agriculture and RuralDevelopment.
Thefigures represented rises of 56.5 percent in volume and 74.2 percent in valueas compared with the same month in 2017.
A sudden rise in rice export price from 390-395 USD per tonne to 420-430 USDper tonne was attributed to the growing export value of rice in the month.
Rice exporters saidthe price hike is due to prospects of deals with the Philippines and Indonesiaas the two Southeast Asian countries, which are Vietnam’s traditional riceimporters, have plans to import a large volume of rice.
The Ministry of Trade of Indonesia has recently approved the import of 500,000tonnes of rice from Thailand and Vietnam to fix the insufficient rice supplyand price hike in the domestic market. The Indonesia Logistics Bureau (BULOG)said that the country only had 950,000 tonnes in stockpile.
Earlier, theNational Food Authority of the Philippines also agreed to import 250,000 tonnesof rice and planned to open rice purchase bidding right in January. Thecountry’s rice stock is enough for use in only three days while the minimumamount must satisfy demand for 15 days.
The country shippedabroad about 5.89 million tonnes of rice worth 2.66 billion USD in 2017, a year-on-yearincreases of 22.4 percent in quality and 23.2 percent in value, the ministrysaid.
Vietnamese rice isnow exported to over 130 markets. However, experts are still calling forquality to be improved, to enhance competitiveness.
In October, theMinistry of Industry and Trade announced its rice export strategy for the 2017to 2020 period, which aims to decrease export volume but increase value.
Accordingly, thecountry’s average rice export volume was set at 4.5 to 5 million tonnes peryear to 2020, at an average value of 2.2 to 2.3 billion USD.
Between 2021 and2030, Vietnam plans to export 4 million tonnes per year on average, wortharound 2.3 USD to 2.5 billion USD. -VNA
Thefigures represented rises of 56.5 percent in volume and 74.2 percent in valueas compared with the same month in 2017.
A sudden rise in rice export price from 390-395 USD per tonne to 420-430 USDper tonne was attributed to the growing export value of rice in the month.
Rice exporters saidthe price hike is due to prospects of deals with the Philippines and Indonesiaas the two Southeast Asian countries, which are Vietnam’s traditional riceimporters, have plans to import a large volume of rice.
The Ministry of Trade of Indonesia has recently approved the import of 500,000tonnes of rice from Thailand and Vietnam to fix the insufficient rice supplyand price hike in the domestic market. The Indonesia Logistics Bureau (BULOG)said that the country only had 950,000 tonnes in stockpile.
Earlier, theNational Food Authority of the Philippines also agreed to import 250,000 tonnesof rice and planned to open rice purchase bidding right in January. Thecountry’s rice stock is enough for use in only three days while the minimumamount must satisfy demand for 15 days.
The country shippedabroad about 5.89 million tonnes of rice worth 2.66 billion USD in 2017, a year-on-yearincreases of 22.4 percent in quality and 23.2 percent in value, the ministrysaid.
Vietnamese rice isnow exported to over 130 markets. However, experts are still calling forquality to be improved, to enhance competitiveness.
In October, theMinistry of Industry and Trade announced its rice export strategy for the 2017to 2020 period, which aims to decrease export volume but increase value.
Accordingly, thecountry’s average rice export volume was set at 4.5 to 5 million tonnes peryear to 2020, at an average value of 2.2 to 2.3 billion USD.
Between 2021 and2030, Vietnam plans to export 4 million tonnes per year on average, wortharound 2.3 USD to 2.5 billion USD. -VNA
VNA
