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ST24 and ST25 rice products attract the attention of consumers in the US and China

01/11/2021

In the first 9 months of this year, Vietnam exported nearly 44,000 tons of ST24 rice and 3,102 tons of ST25 rice to the world market, a breakthrough growth of 9-10 times compared to the same period last year.

The total export turnover of these two types of rice in the past nine months amounted to USD 33.4 million. In which, ST24 rice reached USD 30.4 million, an increase of 8.8 times over the same period; ST25 rice reached nearly USD 3 million, an increase of nearly 10 times.

Vietnam's specialty rice exports still enjoyed strong growth in the context that Vietnam's total rice exports in the first nine months of the year decreased by 8.3% in volume and 1.2% in value over the same period last year.

Currently, ST24 rice is very attractive to customers in China, while ST25 is mainly exported to the US.

Specifically, the US accounted for 91% of Vietnam's total export volume of ST25 rice with about 2,800 tons, an increase of 843% over the same period last year.

Notably, if last year ST25 rice was only exported to two markets, the US and Macau, this year it has been expanded to 11 markets around the world.

In addition to the US market, ST25 rice is starting to penetrate a number of other difficult markets such as Germany, Russia, Belgium, Canada, France, Australia, the UK, etc. Export prices to these markets fluctuate on average from USD 870 – 1,378/ton.

Meanwhile, ST24 rice is also exported to 14 different markets around the world. In which, China accounted for nearly 90% of the market share with 38,909 tons, a galloping increase of more than 30 times compared to the nine months of last year. However, the price of ST24 rice exported to this market was 12.9% lower than the same period last year, averaging USD 692/ton.

Malaysia is also a potential market for Vietnam's ST24 rice with a volume of 3,358 tons, an increase of 371%. Besides, ST24 rice is also exported to Hong Kong, Ghana, Germany, etc.

The fact that Vietnam's ST24 and ST25 rice is constantly in the top at the world's best rice contest has attracted the attention of consumers, especially importers from the US, China and the EU.

Especially, even though it has just begun to appear on the market recently, Vietnam's ST24 and ST25 rice are being highly appreciated by importers for both quality and price.

 

Kylie Nguyen

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