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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.

Increasing rice demand in many markets has increased Vietnamese rice exports from early this year, leading to a surge of rice prices in the domestic market, said Deputy Director of the MARD’s Department of Plant Cultivation Le Thanh Tung.

Vietnam’s rice exports, 27 percent increase, first two months,  year-on-year increase, domestic market

Rice is harvested in Tan An commune of Tan Hiep district, the Mekong Delta province of Kien Giang.

During the first two months, the price of rice purchased at enterprises’ warehouses was 5,400-6,400 VND per kilo, 1,000 VND more than rice purchased at fields.

In the first two months this year, the price of 5 percent broken rice for export on the domestic market increased to 380 USD per tonne, a high since December 2018.

Vietnam is expected to export 6.7 million tonnes of rice in 2020.

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Source: VNA

Vietnam’s rice exports, 27 percent increase, first two months, year-on-year increase, domestic market
 
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