Vietnam earned 1.71 billion USD from exporting nearly 3.5 million tonnes of rice in the first half of this year, up 17.9 percent in value and 4.4 percent in volume year-on-year.
Hanoi (VNA) - Vietnam earned1.71 billion USD from exporting nearly 3.5 million tonnes of rice in the firsthalf of this year, up 17.9 percent in value and 4.4 percent in volumeyear-on-year.
In June alone, 409,000 tonnes of rice worth 207million USD was shipped abroad, according to the Agro Processing and MarketDevelopment Authority (Agrotrade) at the Ministry of Agriculture and RuralDevelopment.
The Philippines was the top buyer between Januaryand May, importing 1.3 million tonnes of Vietnamese rice worth 598.6 millionUSD, or 40 percent of total rice exports, up 23 percent in volume and 42percent in value from a year earlier.
During the first five months, markets to whichthe value of rice exports enjoyed the strongest year-on-year growth wereSenegal (18.3-fold), Indonesia (2.9-fold), and China (2.3-fold).
Meanwhile, rice export prices increased 13percent from the same period last year to average 485 USD per tonne.
Agrotrade said the rice sector now has even moreopportunities under the EU-Vietnam Free Trade Agreement (EVFTA), recentlyratified by the National Assembly and set to take effect in August.
Under the agreement’s terms, the EU pledges to providean annual rice quota of 80,000 tonnes to Vietnam and completely liberalisetrade in broken rice. After three to five years, tariffs on rice products willbe slashed to zero percent./.
Prime Minister Nguyen Xuan Phuc on April 28 agreed with the Ministry of Industry and Trade’s proposal to resume rice export from May 1, in accordance with Decree 107/2018/ND-CP on rice export business.
Vietnam has seen strong growth in rice exports in the first five months of this year, shipping nearly 2.9 million tonnes abroad for 1.41 billion USD, up 5.1 percent and 18.9 percent, respectively, year-on-year.
Higher rice supply in the domestic market has made the export price of Vietnam’s broken rice drop to 450 USD per tonne on June 19, the lowest level in the past two months.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
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According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
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Illustrative image (Photo: VNA) 
