Sharp rise in rice exports

Vietnam’s rice exports are estimated to have reached 3.56 million tons valued at US$1.81 billion during the first half of this year, up 25% in volume and 42% in value against the same period last year, according to the latest statistics from the Ministry of Agriculture and Rural Development.

Up to the end of May, China was the largest importer of Vietnamese rice with 30% of the market share, after buying up 844,100 tons worth US$499.4 million, trailed by Indonesia with 18.7% of the market share (596,000 tons worth US$280 million).

In June, the export price of 5% broken rice was US$450 per ton, higher than that of India (US$410) and Thailand (US$435).

The price per ton of rice saw a drop in most export countries in June compared to previous month due to a decline in demand from major markets such as Indonesia, the Philippines, Africa and Bangladesh. In addition, the domestic supplies in these countries rose rapidly, pushing export prices and the prices of paddy down in the domestic market.

For instance, the average price of paddy (IR50404) in the Mekong Delta region reached just VND5,200 per kilo and that of Jasmine was VND5,800 per kilo, VND100-200 per kilo lower than the previous month.

By the end of June 25, Mekong Delta provinces began harvesting their summer-autumn crops. It is forecast that the price of paddy will soon see a slight fall.

According to the Ministry of Agriculture and Rural Development, Vietnam is aiming to export around 6.5 million tons of rice this year, with most of it being high-quality rice.