Vietnamese rice export price surges in first half

VOV.VN - Vietnam exported approximately 3.03 million tonnes of rice worth US$1.65 billion during the first half of the year with the average rice export price increasing 11.7% to roughly US$544.4 per tonne, according to the General Department of Vietnam Customs.

The figures represented a fall of 14% in volume and 4% in value compared to the same period last year. 

The Ministry of Agriculture and Rural Development revealed that the country enjoys several advantages in terms of exporting rice due to the complicated nature of the COVID-19 pandemic making the demand for food in several countries rise sharply.

A representative of Trung An Hi-tech Agriculture Joint Stock Company noted that Vietnamese rice has seen bright prospects in terms of exports to demanding markets, such as the EU market, especially since the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA) in August last year.

The representative emphasized that the company has successfully exported several consignments to Germany, the Netherlands, and the UK.

Since the beginning of the year, the Philippines continues to be the biggest consumer of Vietnamese rice, with export volume reaching over 1.09 million tonnes worth US$579.83 million, marking a fall of 20.6% in volume and 8.6% in turnover.

However, the average export price rose 15% to US$530.5 per tonne compared to the first half of 2020, thereby accounting for 36% of the country’s total rice export volume and turnover.

China made up the second largest importer of local rice with 580,942 tonnes worth US$308.68 million, an increase of 26.9% in volume and up 12.5% ​​in turnover, while the average export price decreased by 11.4% to US$531.4 per tonne against the same period from last year.

Moreover, Ghana came third with 327,551 tonnes worth US$191.3 million, up 32% in volume and 51% in value, with the export price increasing by 14.6% to reach US$584 per tonne.

Most notably, rice exports to Malaysia during the first half of the year plummeted compared to the same period from last year.

Elsewhere, Vietnamese rice exports also witnessed significant export growth in the Bangladeshi market with a rise of 11.181% in volume and 14.1% in turnover.

Last year saw the country ship 6.15 million tonnes of rice worth roughly US$3.07 billion, down 3.5% in volume, but up 9.3% in export value compared to 2019.

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