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Rice exports in the first 9 months to key markets recorded good growth

15/10/2020

Rice exports to most markets in the first nine months of this year increased in turnover over the same period in 2019.

According to preliminary statistics of the General Department of Customs, in the first 9 months of 2020, the country's rice export volume reached nearly 4.99 million tons (decreased  by 1.4% compared to the same period in 2019), earning nearly USD 2.45 billion (increased by 11.1%), average price reached USD 490.7/ton (an increase of 12.7%).

In September 2020 alone, 385,429 tons of rice were exported, equivalent to USD 195.8 million, the average price of USD 508 USD/ton, decreased by 36% in both volume and turnover compared to August 2020 but increased by 1.1% in price.

In September 2020, rice exports to most markets decreased compared to August 2020, but exports still increased strongly in some markets such as: Indonesia increased 96% in volume, increased 91% in turnover, reaching 10,994 tons, equivalent to USD 5.55 million; Ukraine increased 120% in volume, increased 83% in turnover, reaching 262 tons, equivalent to USD 0.15 million.

Accumulated in the first nine months of 2020, the Philippines still ranks first in Vietnam's rice consumption market, accounting for 36.3% of the country's total rice export volume and accounting for 34.5% of total rice export turnover, reaching 1.81 million tons, equivalent to USD 843.48 million, the average price is USD 466/ton, decreased by 3.9% in volume, but increased by 9.2% in turnover and increased by 13.6% in price over the same period in 2019.

Followed by the Chinese market which accounts for nearly 11.6% of the total volume and accounts for 13.8% of the total turnover, with 576,597 tons, equivalent to USD 338.28 million, the average price of USD 568.7/ton, an increase of 48.7% in volume, an increase of 75.4% in turnover and an increase of 18% in price over the same period in 2019.

Exports to Ghana market reached 412,112 tons, equivalent to USD 217.41 million, at price of USD 527.6/ton, increased both in volume, price and turnover with the increases of 41.7%, 8% and 53% respectively over the same period, accounting for nearly 9% of the total rice export volume and turnover of the country.

In general, rice exports to most markets in the first nine months of this year increased in turnover over the same period in 2019, of which exports increased highly in some markets such as: Indonesia increased by 157% in volume and 220% in turnover, reaching 75,937 tons, equivalent to USD 41.76 million; Spain also increased 107% in volume and 143% in turnover, reaching 1,371 tons, equivalent to USD 0.75 million; France increased 113% in volume and 118% in turnover, reaching 2,803 tons, equivalent to USD 1.65 million.

On the contrary, rice exports plummeted in markets such as: Brunei decreased by nearly 96% in both volume and turnover, Algeria by 96% in volume and 94% in turnover; Bangladesh decreased 89% in volume and 84.4% in turnover.

 

Kylie Nguyen

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