Suggestions for you

Rice exports decreased in turnover, but increased sharply in prices

22/03/2021

In the first two months of 2021, the country's rice export volume reached over 656,045 tons, decreased by 16.5% in turnover but increased by 18.2% in price.

Preliminary statistics of the General Department of Customs and the Vietnam Industry and Trade Information Center (Vinanet), in the first 2 months of 2021, the country's rice export volume reached over 656,045 tons, with a turnover of nearly USD 359.46 million, average price of USD 547.9/ton.

Specifically, in the first two months of 2021, the country's rice export volume reached over 656,045 tons, a turnover of nearly USD 359.46 million, the average price reached USD 547.9/ton, a sharp decrease of 29.4% in volume, 16.5% in turnover but an increase of 18.2% in price compared to the first two months of 2020.

Particularly in February 2021, the country exported 308,472 tons of rice, equivalent to USD 167.71 million, the average price of USD 543.7/ton, decreasing in both volume, turnover and price compared to the first month of 2021, with reductions of 11.3%, 12.6% and 1.5%, respectively. Compared to February 2020, it also decreased sharply by 42% in volume, 29.6% in turnover but increased by 21.7% in price.

According to statistics, in February 2021, a number of key markets decreased sharply compared to January 2021 such as the Philippines decreased by over 49% in both volume and turnover, reaching 86,003 tons, equivalent to USD 46.25 million; Ghana decreased by 74% in volume, 70.5% in turnover, reaching 10,202 tons, equivalent to USD 6.86 million; Malaysia decreased by 63% in both volume and turnover, reaching 6,341 tons, equivalent to USD 3.59 million.

On the contrary, the main markets which increased strongly in February 2021 include: China increased by 75.2% in volume and 77.5% in turnover, reaching 101,350 tons, equivalent to USD 53.5 million; Ivory Coast increased 75.6% in volume and 51.6% in turnover, reaching 20,000 tons, equivalent to USD 10.06 million.

Although in February, exports to the Philippines decreased, but accumulated in the first two months of 2021, the Philippines still ranked first in Vietnam's rice import, accounting for 39% of the country's total rice exports and accounting for 38.3% of the total turnover, reaching over 255,874 tons, equivalent to USD 137.63 million, the average price of USD 537.9/ton, decreased by 28.3% in volume, decreased by 11% in turnover but increased 24% in price compared with the same period in 2020.

China still maintained the second position with 159,198 tons, equivalent to USD 83.63 million, the average price of USD 525.3/ton, a sharp increase of 140.4% in volume, an increase of 125.6% in turnover but a decrease of 6.2% in price compared to the same period in 2020; accounting for 24% of the total volume and total turnover.

Rice exports to the Ivory Coast market are also very noticeable with a sharp increase in both volume, turnover and price over the same period in 2020, with an increase of 28%, 63.7% and 27.8% respectively, reaching 31,387 tons, equivalent to USD 16.69 million, at price of USD 531.7/ton.

 

Kylie Nguyen

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