Vietnam likely to achieve rice export target this year
Vietnam is expected to achieve its export target of 6.3 million tonnes of rice worth 3.2 billion USD this year due to high global demand and an increase in export prices.
Hanoi (VNA) – Vietnam is expected to achieve itsexport target of 6.3 million tonnes of rice worth 3.2 billion USD this year dueto high global demand and an increase in export prices.
Statistics from the General Department of Vietnam Customs, the country exported593,600 tonnes of rice in September, worth over 293.1 million USD, increases of19 percent in volume and 20.5 percent in value compared to last year’s figures.
Vietnam shipped abroad 4.57 million tonnes of rice worth over 2.41 billion USDduring the nine-month period, a drop of 8.3 percent in volume and 1.2percent in value year-on-year.
“The rice export has been resumed since September despite the fact that socialdistancing has still being applied in many southern provinces and cities,” said Nguyen Quang Toan, General Director of the Agro Processing and MarketDevelopment Authority under the Ministry of Agriculture and Rural Development.
Nguyen Thanh Phong, Director of Van Loi Company, attributed the increase in theVietnamese rice export prices to the fact that the Government has boosted itspurchase for national reserves, along with the rising demand in the globalmarket since the beginning of September.
Other insiders also expressed their optimism as rice foreign importers allowthe resumption of rice trading once the COVID-19 pandemic is put under control.
Some major rice exporters are predicted to increase their rice imports in thelast months of this year and the first half of 2022, they said.
The export prices of Vietnam’s five-percent broken rice has soared to thehighest level over the past three months, according to Vietnam FoodAssociation.
The country’s five-percent broken rice is currently sold at between 433 USD and437 USD per tonne, surpass those from other competitors such as Thailand, Indiaand Pakistan.
Specifically, the prices of Vietnamese rice were 49 USD, 68USD and 55 USDhigher than that of Thailand, India and Pakistan, respectively.
In mid-August, the export price of Vietnam’s five-percent broken rice was offeredat 393-307 USD, 8 USD lower than Thai product./.
In order to take advantage of FTAs and increase the Vietnamese rice export market share at more competitive prices, the Ministry of Industry and Trade will continue to coordinate with ministries, branches and the Vietnam Food Association to help businesses effectively implement the deals and make the most of markets such as the Republic of Korea and the EU.
Vietnamese rice exporters have been urged to play a more active role in utilising free trade agreements (FTAs) to which Vietnam is a party to boost falling exports.
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Farmers harvest spring-winter rice crop. (Photo:VNA) 
