Vietnam’s rice export sector is seeing lower prices because of falling demand from major markets like China and the Philippines. illustrative image The rice prices in the spring-winter crop in the Mekong Delta dropped by VND300 to VND600 per kilo, to VND5,400 (23 US cents) to VND6,500 per kilo. The prices of high-quality rice in Bac Lieu Province have dropped by VND5,100 to VND4,700 per kilo. In the first two months, the amount of exported rice reached 837,000 tonnes, an increase of 1.1% compared to the same period last year. However, the value decreased by 10.4% to USD364m. The rice prices in January stayed at USD446 per tonne, decreased by 8.2% compared to the previous year. Rice prices continue to fall because major markets like China and the Philippines haven't announced any import plans for 2019. Nguyen Quoc Toan, head of Department of Farm Produce Processing and Market Development, said, "The Philippines and Indonesia already imported a huge amount of rice last year … [Read more...] about Rice exports see dropping prices due to declining demand
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Vietnam’s rice exports hit 5.2 million tons in ten months
China remained the leading importer of Vietnamese rice with a growth rate of 24 percent. Strong rises were also seen in many other markets, such as Indonesia, Iraq, the Philippines, and Malaysia. Average rice prices in the first nine months of 2018 reached USD 503 per ton, up 13.7 percent year-on-year. The highest price was recorded for Jasmine rice with USD 575 per ton, followed by Japonica with 526 USD per ton. Photo for illustration The export of medium- and high-quality rice increased, while that of low quality types reduced, now accounting for just 2 percent of the total export volume. On October 18 this year, the Philippines closed its bidding and decided to buy 47,000 tons of rice, including 28,000 tons from Vietnam. The same day, Egypt invited bids for 25,000 tons of rice in 2018. Meanwhile, within the framework of the 10th World Rice Conference in Hanoi, many contracts were signed, including a USD 2.5 million contract signed between the Hanoi Trade Joint … [Read more...] about Vietnam’s rice exports hit 5.2 million tons in ten months
Vietnam’s rice exports hit 5.2 million tonnes in ten months
Rice products of the Tan Long company (Photo: VNA) Hanoi (VNA) – Vietnam shipped abroad 264,000 tonnes of rice in October this year for 136 million USD, pushing the total figures so far this year to 5.2 million tonnes worth 2.6 billion USD, up 1.7 and 14.1 percent year-on-year. China remained the leading importer of Vietnamese rice with a growth rate of 24 percent. Strong rises were also seen in many other markets, such as Indonesia, Iraq, the Philippines, and Malaysia. Average rice prices in the first nine months of 2018 reached 503 USD per tonne, up 13.7 percent year-on-year. The highest price was recorded for Jasmine rice with 575 USD per tonne, followed by Japonica with 526 USD per tonne. The export of medium- and high-quality rice increased, while that of low quality types reduced, now accounting for just 2 percent of the total export volume. [Video: Vietnamese rice now top quality on the international market] On October 18 this year, the Philippines closed its bidding … [Read more...] about Vietnam’s rice exports hit 5.2 million tonnes in ten months
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20th edition of Vietfish expo opens in HCM City The country’s premier fisheries expo, the Viet Nam Fisheries International Exhibition, returns to HCM City 30 per cent larger than when it debuted in 2008.The event, hosted by the Viet Nam Association of Seafood Exporters and Producers (VASEP), opened on August 22 at the Sai Gon Exhibition and Convention Centre in District 7.In its 20th edition this year, the annual event, with the theme “Asia’s Home of Seafood”, has attracted 233 exhibitors from 14 countries and territories.The organisers said the exhibition this year has been expanded by nearly 200sq.m from last year with 7 per cent more exhibitors.Vietnamese companies are once more showing off their potential as leading fisheries exporters.Some 66 per cent of the exhibitors are domestic, organisers said.Of the participants, 55 per cent are in aquaculture and services while the remaining 45 per cent sell machinery and equipment, chemicals, … [Read more...] about BUSINESS NEWS IN BRIEF 24/8
Vietnam’s rice exports jump in first six months
Rice export revenue is expected to hit $40 billion this year as prices of Vietnamese rice exceeded their Thai and Indian peers. According to the Ministry, in June 2018, prices of rice in Thailand and India went down. However, in June, the export price of Vietnam’s five percent broken rice was US$450 per ton, higher than that of India with $410 and Thailand $435. The Vietnam Food Association and the Ministry of Industry and Trade said that in the middle of May, prices of Vietnam’s five percent broken rice hit $458-462 per ton and it was the highest prices within four past years. The Ministry of Industry and Trade explained the fall in rice prices of Thailand and India because there was a decline in demand from their traditional markets and the supplies exceeded the demand in its major markets while prices of India’s rice exports went down because of poor consumption in Africa and Bangladesh. For instance, the average price of paddy (IR50404) in the Mekong Delta … [Read more...] about Vietnam’s rice exports jump in first six months