Vietnams rice exports on sharp fall
Vietnam has seen a sharp decline in rice exports, so it will be a challenge for the country to reach the set target of exporting 5 million tonnes of rice this year.
Vietnam exported 1.28 million tonnes of rice in the first quarter of 2017
According to the Ministry of Agriculture and Rural Development, Vietnam exported 1.28 million tonnes of rice in the first quarter of 2017 worth a total value of USD570 million, down 18% and 17.3% on-year respectively.
In the three-month phase, China remained the biggest rice importer of Vietnam, accounting for 36% of the country’s total rice exports during the period. It was followed by the Philippines with 25%. Meanwhile, rice exports to the country’s traditional importers such as Ghana, Hong Kong and Malaysia have seen a remarkable decline.
The Vietnam Food Association said that Vietnam has faced strong competition from Thailand and India, the world's largest rice exporters which had announced to clear their state stockpile. Thailand and India have been expanding their rice exports to many markets such as China, North Africa, South Asia and West Asia.
Huynh Minh Tue, General Secretary of (VFA), said that Thailand has set a rice export goal of 10 million tonnes of rice in 2017, compared to 9.88 million in 2016.
Besides inter-government contracts, Thailand exports rice through private traders who have their own outlets. Meanwhile, Vietnam mainly depends on inter-government contracts for rice export. Vietnam Northern Food Corporation 1 and Vietnam Northern Food Corporation 2 take the main responsibility for rice distribution.
Vietnam exported 4.8 million tonnes of rice in 2016, down nearly 2 million tonnes against 2015, failing to meet the year target of 5.4 million tonnes.
Experts said that another key factor is that Vietnam has long been focused on quantity rather than quality, which has actually backfired in terms of the country’s rice exports.
Vietnamese rice exporters are also faced with a potential ban from the United States after a series of pesticide residue scandals.
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