Exporters signed contracts to sell nearly 2 million tonnes of rice overseas in October, exceeding the figure of the same period last year by over 22 percent and a record volume for one month.
HCM City (VNA) – Exporters signed contracts to sell nearly 2 million tonnes of rice overseas in October, exceeding the figure of the same period last year by over 22 percent and a reco♕rd volum🌟e for one month.
The outcome is attributable to the winning of bids to sell more than 1.5 million tonnes of rice to the Philippines, Indonesia, and Cuba.
According to the Vietnam Food Association (VFA), in the last ten months, Vietnam exported over 5 million tonnes of rice, a slight decrease of 6 percent year-on-year. The export price also dropped by 24.03 USD per tonne.
Asia maintained its position as Vietnam’s biggest rice importer, despite an annual decline of 11.2 percent in the market share to 71.58 percent. Africa, Australia, and Europe showed greater demand for Vietnamese rice with higher imports recorded during the period.
The VFA anticipates 6.34 million tonnes of rice will be shipped abroad in 2015, excluding cross-border sales estimated at 1.64 million tonnes.-VNA
Vietnam will focus on Africa, West and South Asian markets to boost rice exports amidst harsh competition anticipated this year, according to the Ministry of Industry and Trade.
Vietnam’s rice export turnover to markets in Africa, West Asia and South Asia recorded considerable growth in the first quarter of this year to hit 71.3 million USD, 531 percent higher than that of the same period last year.
Vietnam earned around 875 million USD from shipping nearly 2.1 million tonnes of rice abroad in the first five months of 2015, posting year-on-year declines of 10.7 percent in volume and 13.6 percent in value, according to the Vietnam Food Association (VFA).
Vietnam earned almost 1.2 billion USD from shipping more than 2.8 million tonnes of rice to foreign markets since the outset of this year, according to the Vietnam Food Association (VFA).
Rice demand from Vietnam's traditional markets is showing signs of recovery for the next six months, according to Huynh Minh Hue, Vice Chairman of the Vietnam Food Association (VFA).
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
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Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
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Illustrative image (Source: VNA)
