Rice exports to China drop sharply

Sketched by T.Bình

According to the General Department of Vietnam Customs, in May, the country exported 856 thousand tons of rice, decreasing 14.6% compared to the previous month.

By the end of May, the country's exports reached 4.03 million tons, up 11.2% and total turnover reached US$2.56 billion, rising by 33.6% over the same period last year.

Regarding the market, Vietnam's rice is mainly exported to the ASEAN market with 2.96 million tons, accounting for 73% of the country's total rice volume and an increase of 36% over the same period last year. In particular, exports to the Philippines reached 1.83 million tons, an increase of 19.6%; Indonesia reached 677 thousand tons, a rise of 83.4%; Malaysia reached 338 thousand tons, a growth of 82.5%.

In contrast to the high growth momentum in ASEAN markets, Vietnam's rice exports to China decreased sharply, reaching only 203 thousand tons, reducing 67.8% over the same period last year.

Regarding export prices, according to the latest information from the Vietnam Food Association, Vietnam's export price of 5% broken rice is lower than that of the world's leading rice exporting countries.

On June 14, 2024, the price of 5% broken rice in Vietnam was US$570/ton, while this figure of Thailand was US$618 and Pakistan was US$583.