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Many positive signs for rice exports

12/10/2021

Although many southern provinces and cities still implement social distancing according to Directive 16/CT-TTg, rice export activities in September have had many positive signals compared to August 2021.

According to statistics from the Ministry of Industry and Trade, in September, the country successfully exported 530,000 tons of rice, worth USD 261 million; while in August 2021, rice exports only reached 430,000 tons and were worth USD 211 million.

Accordingly, in the first nine months of 2021, the country's rice exports reached 4,516 million tons, worth USD 2.38 billion, decreased by 9.5% in volume and 2.4% in value over the same period last year.

Comments from trade experts show that rice exports in recent months have been facing difficulties due to many unfavorable factors from the COVID-19 pandemic, but together with billion-dollar industries such as furniture, seafood, vegetables, coffee, rubber, cashew nuts, etc. this is still one of Vietnam's advantages in the agricultural sector.

This result shows the efforts of enterprises in finding solutions to accelerate export activities despite the difficult situation in loading, unloading, transporting and circulating goods for customers due to traffic restrictions in many localities.

Not only that, recently the export price of Vietnam's rice has continued to improve. For example, the price of 5% broken rice for Vietnam's export has increased from USD 423 - 427/ton to USD 428 - 432/ton in the last days of September and continued to increase slightly in the first days of October. This is also the highest price in more than 2 months; Meanwhile, the price of 5% broken rice of Thailand is only USD 383-387/ton and of India is USD 368-372/ton.

Sharing from a number of rice exporters, the price of Vietnamese rice increased because orders from traditional rice importing countries were in demand again. Moreover, rice supply from India is affected due to unfavorable weather.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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