VOV.VN - Sri Lanka and the Philippines have opened more international bids to import rice. This is an opportunity for Vietnamese businesses to win the bids and ship their rice immediately in this November.
Exports over the first nine months of the year have risen by 9.3%, hitting a six-year high.
Businesses in the Mekong Delta city of Can Tho have enjoyed good export growth, with sharp rises in shipments of rice and aquatic products which make up more than 70% of local total export value.
VOV.VN - Rice exports rose high by 19.8% in volume to 3.96 million tons and 17.5% in value to US$1.75 billion in the first eight months of this year against the same period last year, according to the Ministry of Agriculture and Rural Development.
Exports of glutinous rice to China, Vietnam’s biggest rice importer, are stagnating, despite overseas shipments of the commodity soaring 34% in the first half of 2017.
VOV.VN - The Chinese government on Thursday, July 20, 2017 signed a new trade agreement with the US approving the opening of its market to allow the import of American rice for the first time ever.
VOV.VN - Global rice trade has been projected to increase 1% to 42.3 million metric tons in 2018, the third highest on record and the second consecutive year of expanded trade, according to the US Department of Agriculture.
Vinafood 1 and Vinafood 2 want to be exclusive bidders for government-to-government (G2G) rice export contracts, but analysts warn of the dangers of a monopoly.
Vietnam exported more than 14,700 tonnes of rice worth US$5.56 million in the first five months of this year to Russia, a year-on-year increase of 707% in volume and 662.6% in value, according to statistics from the General Department of Vietnam Customs.
The price of Vietnamese export rice has hit a three-year high thanks to the rising import demands and the restricted supply source.
Despite rapid growth for years, the rice sector of Vietnam is hamstrung by policies that reduce its competitiveness. Amidst this situation, strong actions are needed to broaden markets and increase rice exports.
State credit institutions will offer enterprises developing national agricultural products 70 per cent of investment capital support, said the Ministry of Planning and Investment (MPI).
Vietnam exported an estimated 1.84 million tons of the grain in the first four months of this year, down nearly 9% from a year ago and the lowest volume for the same period in nine years, the government said.
Indonesia, the world's fourth most populous country and a major buyer of Vietnamese rice, has not returned to Vietnam for new purchases this year, while its overall 2017 rice imports are forecast to halve to around 500,000 tons thanks to better domestic production, according to industry reports.
Vietnam's first-quarter rice exports have fallen to a two-year low, but the outlook remains positive as shipments to China, its biggest buyer, are forecast to grow this year, traders and industry reports said.
Vietnam exported an estimated 1.28 million tonnes of rice in the first three months of the year, earning US$570 million, down 18% in volume and 17.3% in value compared to the same period last year.
Vietnam, the second largest rice exporter in the world, is facing big challenges.
Falling demand and overseas competition are expected to bite into Vietnam's rice exports.
Rice exporters complain they have to satisfy many requirements and pay under-the-table money to obtain a license to export rice.
The export value of agricultural, forestry and fishery products is estimated to see a year-on-year increase of 1.4% to US$4.3 billion in the first two months of 2017.