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More growth opportunities for rice exports

25/01/2021

According to the Import-Export Department, the Ministry of Industry and Trade, as of January 18, 2021, the list of traders granted certificates of eligibility for rice export business has increased to 205 traders.

In particular, Can Tho has the largest number of rice traders in the country with 43 businesses. Next is Ho Chi Minh City with 38 businesses; Long An 25 businesses; An Giang 20 businesses; Dong Thap 18 businesses; Hanoi and Tien Giang 8 businesses; Nghe An 7 businesses; Kien Giang and Vinh Long 6 businesses, etc.

Previously, on August 15, 2018, the Government issued Decree No. 107/2018/ND-CP on rice export business, effective from October 1, 2018, replacing Decree No. 109/2010/ND-CP. Also on October 1, 2018, the Ministry of Industry and Trade issued Circular No. 30/2018/TT-BCT detailing a number of articles of Decree No. 107/2018/ND-CP.

Decree No. 107/2018/ND-CP and Circular No. 30/2018/TT-BCT have many new points showing innovative thinking in the management of the Government and the Ministry of Industry and Trade on rice export business.

After more than one year of implementing Decree No. 107/2018/ND-CP with new reforms and thinking, the Ministry of Industry and Trade has granted 47 more certificates of eligibility for rice export business, increasing the number of rice exporters to 182 traders. As of January 21, 2021, the number of traders granted the Certificate of eligibility for rice export business was 205 traders.

Rice is considered as one of the items that achieved impressive results in 2020 with a turnover exceeding USD 3 billion, an increase of 9.3% compared to 2019. In early 2021, Trung An Hi-tech Agriculture JSC successfully exported  1,600 tons of rice to Malaysia and Singapore. This is a positive signal right after Vietnam signed the Regional Comprehensive Economic Partnership (RCEP) in mid-November 2020.

Entering 2021, Vietnam's rice export price is always at high level, about USD 503/ton. The Vietnam Food Association forecasts that exports in 2021 will reach over 6 million tons.

According to the Vietnam Food Association, the forecast for Vietnam's rice exports in the first quarter of 2021 is still good when Vietnam's main export markets such as the Philippines, Africa, etc. continue to sign contracts to buy rice from Vietnam. The Asian rice market started to heat up again when a series of very potential customers are urgently buying, including China, Bangladesh, the Philippines.

 

Kylie Nguyen

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