Rice exports reach new levels

Vietnamese rice exports totalled more than 928,000 tonnes in August, a year-on-year surge of more than 33 percent, according to Truong Thanh Phong, chairman of the Vietnam Food Association (VFA).

Speaking at a meeting in HCM City on September 7, Phong said the figure was the highest level ever recorded for Vietnamese rice exports.

“It was up in August by more than 22 percent against July,” he said.

The record volume brought Vietnam a free-on-board (FOB) export value of nearly 399 million USD, up 23 percent compared to July and 18 percent rise against August last year.

In the first eight months of the year, total rice exports reached 5.1 million tonnes, a drop of 4 per cent compared with the same period last month.

The export volume was worth more than 2.2 billion USD, a year-on-year decline of 10 per cent.

According to the VFA, export volume and value this year fell slightly due to the slowdown in export activities during the first quarter.

However, the VFA said prices significantly increased in August, especially from the middle of the month.

The average price for the entire month was 443 USD per tonne.

“The price has risen by 40-45 USD per tonne compared with the beginning of August because of the limited supply after the harvest of the summer-autumn crop,” the VFA said.

With such figures, the target to export 7 million tonnes will likely be met, and if favourable conditions continue, Vietnamese companies will continue to increase their rice exports, according to Phong.

In September, rice export value is expected to be 800,000 tonnes, according to the VFA.

China surprisingly became the biggest importer, with import value of 1.4 million tonnes in eight months.

The Ministry of Agriculture and Rural Development said that during this period export value and volume to China saw year-on-year surges of 4.4 times and 5.2 times, respectively.

Explaining China’s surge in imports, the VFA explained that rice prices in China were now higher than those of Vietnamese rice./.

Source: VNA

 

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