Ghana becomes Vietnam's largest rice export market in September
Ghana became Vietnam’s largest rice buyer in September, accounting for nearly 22% of total exports after the Philippines temporarily suspended imports.
Vietnam exported 6.83 million tonnes of rice in the first nine months, earning US$3.49 billion, down 2.05% in volume and 19.98% in value year-on-year.
In September alone, the country shipped 466,800 tonnes of rice worth over US$232.38 million, down sharply by 43.27% in volume and 54.73% in value compared to the same period last year.
Following Ghana, Côte d’Ivoire and Malaysia were the second- and third-largest importers of Vietnamese rice, with market shares of over 21% and nearly 10%, respectively.
In early August, the Philippine government announced a two-month suspension of rice imports from September 1 amidst falling domestic rice prices. However, market analysts predict that overall exports will remain robust thanks to growing demand in other regions.
In 60 days, the Philippines, one of Vietnam’s main buyers, will review the situation before deciding whether to reopen imports, giving Vietnam ample time to adjust the export pace.
Despite a temporary halt in rice import from the Philippines, Vietnam’s export is expected to exceed 8.2 million tonnes for the whole year, bolstered by rising shipments to such markets as Bangladesh, China, and South Africa.
Vietnam’s rice exports set to surpass 8.2 million tonnes
Despite a temporary halt in rice import from the Philippines, Vietnam’s rice exports are expected to exceed 8.2 million tonnes for the whole year, bolstered by rising shipments to such markets as Bangladesh, China, and South Africa.
