Philippines is Vietnam’s second largest rice importer
(VOV) -The Philippines is now the second largest importer of Vietnamese rice, accounting for 21.03% of the nation’s rice exports during the first six months of the year, the Ministry of Agriculture and Rural Development (MARD) reports.
Vietnam shipped a total of 687,150 tonnes of rice to the Philippines valued at US$310 million during the six month period, up 134.1% in volume and 135.9% in value compared to the same period last year.
China is still the main market for Vietnamese rice comprising 39.11% of the nation’s export market share during the first half of 2014.
The average price of rice for the six months hovered around US$452 per tonne, a year-on-year increase of 2.4%.
Total rice exports for the first seven months of 2014 are estimated at 3.86 million tonnes worth US$1.75 billion, down 7.9% in volume and 4.8% in value over the same period last year.