Tan Long's rice processing plant (Photo: VNA)Hanoi (VNA) – Vietnam’s Tan Long Grouphas won three contracts to sell 50,000 tonnes of Japonica rice to KoreaAgro-Fisheries & Food Trade Corp of the Republic of Korea, 70 percent ofthe bidding volume.
Tan Long has entered the rice export market inrecent years.
Its rice processing plant is located in Lap Vodistrict in the Mekong Delta province of Dong Thap with capacity of 180,000 –200,000 tonnes of rice per year.
The company’s traditional markets are thePhilippines, Indonesia and Malaysia.
Recently, it has been able to access theRepublic of Korea – a choosy market with strict regulations on quality and dateof delivery.
Japonica is a high-quality round grain variety,which has been cultivated in the Mekong Delta for the past 10 years.
Since late 2016, Tan Long Group has won bids toprovide this kind of rice to the RoK.
In 2017, the group won two contracts to export morethan 41,000 tonnes of rice to the market.
The outcomes were attributed to the company’sefforts to build a rice production chain in the Mekong Delta – the rice bowl ofVietnam.
It aims to connect farmers with rice processingplants to expand the production of high-quality rice for exports by applyingnew modern technology.
Vietnam earned 1.1 billion USD from exporting2.16 million tonnes of rice in the first four months of 2018, up 35.7 percentin value and 21.7 percent in volume.
China remained the biggest rice importer of Vietnamwith 29.1 percent of the rice market share, according to the Ministry ofAgriculture and Rural Development.
Average export price for rice showed ayear-on-year rise of 15 percent to touch 501 USD per tonne, thanks largely to improvedquality.
High-quality rice comprised up to 81 percent ofrice export volume, the ministry said, forecasting the world’s rice market willsee a decrease in supply and increase in demand in the near future.
In 2018, Vietnam is forecast to ship 6.5 milliontonnes of rice abroad, up 700,000 tonnes compared to 2017.
According to Vietnam’s Rice Market DevelopmentStrategy, one of the country’s goals is to gradually reduce the riceexport volume but increase the value of exported rice.
Vietnamese rice is now exported to more than 130markets worldwide.-VNA
VNA
