By Hung Le  June 25, 2019 | 08:55 am GMT+7 Grains are seen on assembly line of a rice processing factory in Vietnam's southern Mekong Delta city of Can Tho. Photo by Reuters/Kham. Vietnam’s rice exports fell 6.3 percent in volume and 20.4 percent in value in the first five months of 2019 compared to the same period last year. The Ministry of Industry and Trade (MoIT) said at a conference in Ho Chi Minh City on Monday that the country exported a total of 2.76 million tons of rice worth around $1.18 billion in the first five months. Apart from the Philippines, Vietnam's exports to its main markets like China, Indonesia and Bangladesh fell during this period. Vietnam exported only 239,000 tons of rice to these three markets, compared to 1.44 million tons in the same period last year, a six-fold drop. This situation is expected to drag on until the end of the year, as a result of various reasons including high levels of rice inventory from China’s … [Read more...] about Rice exports shrink in first five months
Biggest rice exporter
Vietnam still faces rice export difficulties
Vietnam's rice export industry is trying to find new customers as exports to China, the country’s biggest customer, dropped. Vietnam still faces rice export difficulties The problem was discussed at the review conference about rice export in the first half of 2019 held by the Ministry of Industry and Trade. Deputy Minister Tran Quoc Khanh said many unfavourable international developments for the local rice export industry had occurred. In the first five months, Vietnam only exported 239,000 tonnes of rice to three major markets including China, Indonesia and Bangladesh, a decrease of 83% compared to the same period last year. The exports firms had to find other customers and successfully exported 2.76 million tonnes of rice. However, it is forecasted that the industry will have to face many difficulties in the next 16 months. Statistics from the Export and Import Department showed that in the first five months, Vietnam only exported 223,078 to China which worth USD111.3m, … [Read more...] about Vietnam still faces rice export difficulties
Rice exports slump, food association seeks government help
In the first two months of the year, Vietnam exported 788,000 tons of the grain worth worth $355 million, down 4.9 percent and 17.5 percent year-on-year, respectively, according to the Ministry of Industry and Trade. Rice exports to China, Vietnam’s biggest buyer, went down; and in a double blow for exporters, prices also fell sharply. Currently export prices are at VND4,300 - 5,000 ($0.19 - $0.22) per kilogram depending on the variety, VND800 - 1,000 lower than a year ago. Rice export values plunged 17.5 percent in January and February. The ministry said importing countries were sourcing their rice from more suppliers, and the resultant competition has pushed prices down. Besides, many countries have been seeking to increase rice production, increasing global supply, making it a buyers’ market. At a recent conference on rice production held in the Mekong Delta province of Dong Thap, the association called on the State Bank of Vietnam to provide credit to help businesses … [Read more...] about Rice exports slump, food association seeks government help
2018 rice exports: Successful innovation
(VEN) - Rice has dropped from first to second place in the government’s priority farm produce exports due to the crop rotation policy. However, despite initial difficulties, rice exports have achieved breakthroughs in terms of structure and price and they are still a key, sustainable export. Innovation and growth Vietnam produced 43.9 million tonnes of rice in 2018, up 1.2 million tonnes from 2017. Since the government issued Decree 107/2018/ND-CP to facilitate rice exports, Vietnam’s rice industry has made positive changes in restructuring, improving rice quality by introducing new, high quality varieties and increasing mechanization in production, preservation and refinement. While Vietnamese rice export prices have improved, the country’s rice export structure has changed to 51 percent white rice, 32 percent aromatic and jasmine rice, 12 percent glutinous rice and 5 percent Japanese Japonica rice. In 2018, Vietnam exported 6.13 million tonnes of rice (up six … [Read more...] about 2018 rice exports: Successful innovation
Rice exporters told to meet Chinese quality requirements as shipments slump
To sustain their rice exports to China, a large buyer, Vietnamese firms need to focus on meeting food safety and traceability requirements and carry on official instead of border trade, according to experts. According to the Department of Agro-product Processing and Market Development, Viet Nam’s rice exports were estimated at 3.9 million tonnes worth nearly US$2 billion over the first seven months of the year, a year-on-year increase of 12.2 per cent and 29.2 per cent. China continued to be the biggest importer of Vietnamese rice, accounting for 26.8 per cent, followed by Indonesia (18.2 per cent) and the Philippines (10.4 per cent). But exports to China were down 27.7 per cent in volume and 14.6 per cent in value from the same period last year. A total of 891,000 tonnes were shipped, with sticky rice accounting for a large share. In July China raised import tariffs on rice from ASEAN member countries, including to 50 per cent on sticky rice from the earlier 5 per cent. As a … [Read more...] about Rice exporters told to meet Chinese quality requirements as shipments slump