Export prices of Vietnamese rice up nearly 10 per cent

Tuesday, Mar 07, 2023 13:55

Workers pack rice at Vinh Phat Co Ltd's factory in An Giang Province. — VNA/VNS Photo Vu Sinh

The export prices of Vietnamese rice in the first two months of 2023 rose by 9.8 per cent year-on-year to US$528.5 per tonne, according to the Ministry of Agriculture and Rural Development (MARD).

Viet Nam exported 789,000 tonnes of the grain in the reviewed period, earning $417 million, down 18.8 per cent in volume and 10.8 per cent in value compared to the same period last year.

The Philippines is the largest importer in January with over 129,000 tonnes worth $64.55 million, accounting for 34.6 per cent of Viet Nam’s total export.

Viet Nam recorded the highest increase in price for rice exported to Taiwan (China) in January, with a surge of 54.6 per cent year-on-year.

Favourable conditions are forecast for rice exports in 2023 as many countries such as the US and China, and those in Europe, are being affected by climate change and drought, which cause a shortage of rice supply.

Moreover, India – one of the largest rice exporters in the world – imposes a ban on broken rice exports and a 20-per cent tax rate on white rice varieties.

Viet Nam aims to export between 6.5-7 million tonnes of rice in 2023.

Its exports are predicted to increase again as the demand in traditional markets such as Indonesia and Bangladesh has risen, and China – one of the largest importers of Vietnamese farm produce, has opened its market after the COVID-19 pandemic. — VNS

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