Today: 21/10/2020 09:34:34 (GMT+7)

Vietnam’s rice export revenue up 18.9% in first five months

Vietnam exported a total of 2.9 million tonnes of rice in the first five months of 2020, bringing in US$1.41 billion, an increase of 5.1% in volume and 18.9% in value.

According to the Ministry of Industry and Trade (MOIT), Vietnam is seeing plenty of opportunities to outstrip Thailand in rice exports this year thanks to more competitive prices and a strong rally in shipment volume after the removal of the export quota.

Vietnam, rice export revenue, first five months, plenty of opportunities, rice exports,  more competitive prices, shipment volume

Vietnamese rice prices in May averaged at US$527 per tonne.

During the first four months of 2020, the Philippines was the largest buyer of Vietnamese rice, purchasing 902,100 tonnes for US$401.3 million, up 11.4% in volume and 26% in value.

Vietnam also saw substantial increases in rice shipments to China, Indonesia, Taiwan (China) and Ghana, but exports to the Ivory Coast fell sharply by 44.5%.

As Vietnam fully resumed rice exports from May 1, prices of the Vietnamese grain during the month rose to the highest level for years, reaching an average of US$527 per tonne, up 5.6% from the previous month and 21.4% compared to a year earlier.

Vietnamese rice prices in the first five months of 2020 averaged at US$485 per tonne, up 13% compared with the same period of last year.

Rice exports expected at over 6 million tonnes
Rice exports is expected to reach over six million tonnes in 2020.
Vietnam’s rice exports increase 27 percent in first two months of 2020
Vietnam exported 890,000 tonnes of rice worth 420 million USD in the first two months of 2020, a year-on-year increase of 27 percent and 32.6 percent and in terms of volume and value, respectively, according to the Ministry of Agriculture and Rural Development.
Vietnam sees rice export growth in January
Vietnam exported 560,000 tonnes of rice in January 2020, earning 270.3 million USD, an increase of 12 percent in volume and 39 percent in value month-on-month, according to the General Department of Customs.
Nearly 190 rice traders certified as eligible for rice exports
The Ministry of Industry and Trade has granted 47 certificates of eligibility to rice export businesses over the past year, lifting the number of rice exporters to 182 traders.
Rice exports bring home 2.24 billion USD in nine months
Vietnam shipped abroad 586,000 tonnes of rice in September for 251 million USD, pushing the total rice export volume and value in the first nine months of this year to 5.2 million tonnes and 2.24 billion USD, respectively.

Source: NDO

Vietnam, rice export revenue, first five months, plenty of opportunities, rice exports, more competitive prices, shipment volume
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