Vietnamese rice still selling well in global market on increasing demand
VOV.VN - Several regional countries such as Indonesia and the Philippines have recently moved to increase their imports of Vietnamese rice, opening up bright prospects ahead for the global and Vietnamese rice markets during the last months of the year, according to insiders.
Specifically, Indonesia recently invited bids for 500,000 tonnes of rice, including 300,000 tonnes in rice supplies from Vietnam, Thailand, and Myanmar, and 200,000 tonnes from Pakistan. The winning bidder is expected to deliver their shipment to Indonesia before December 25.
Due to the continued purchase, Indonesia has surpassed China as the second largest importer of Vietnamese rice. The past nine months of the year saw Indonesia import 871,000 tonnes of rice from Vietnam, representing a 16–fold rise compared to the same period last year.
As the largest importer of Vietnamese rice, the Philippines also placed export orders again after the Philippine Government removed the ceiling placed on domestic rice prices.
Vietnamese rice exports to the Philippines in the nine-month period reached 2.4 million tonnes worth US$1.5 billion, up nearly 20% in turnover against last year’s corresponding period.
China, which is among Vietnam’s top three rice importers, also increased its purchases of sticky rice and ST 24 and 25 rice in October. The rice export volume to the northern neighbour during the nine-month period surged by 35% year on year to over 850,000 tonnes.
Aside from these major markets, Vietnamese rice exports to Ghana, Turkey, and Chile also skyrocketed by 46% or more year on year, showing no signs of decreasing throughout the reviewed period.
A representative of an export firm in the Mekong Delta province of An Giang pointed out that Indonesia's opening of a bid package for rice in October will help both the global and Vietnamese markets grow rapidly ahead in the remainder of the year.
Sharing this perspective, the director of an export enterprise in Dong Thap province revealed that Vietnamese rice is dominating the global market in terms of output and delivery time, hoping Vietnamese businesses would win Indonesia’s bidding contracts.
On October 9, the price of 5% broken rice of Vietnam hovered between US$600 and US$613 per tonne, while fragrant rice was traded at US$640 and US$650 that are US$30 and US$65 per tonne higher than those of Thai and Pakistani rice.
