Vietnam exports nearly 3.5 million tonnes of rice in six months
|
The opening five months of the year saw the Philippines top the list of consumers of Vietnamese rice, purchasing 1.3 million tonnes for US$598.6 million, annual increases of 23% in volume and over 42% in value.
Moreover, strong growth was also recorded in other markets such as Senegal, with an 18.3-fold increase, Indonesia, up 2.9 times, and China, with a 2.3-fold rise. Indeed, the average export price of rice during the five-month period stood at US$485 per tonne, a rise of 13% on-year.
The Philippines retained its leading position as the prime consumer of Vietnamese white rice, accounting for 63.6%, followed by Malaysia with 12.6%, and Ghana with 2.9%.
In relation to the global market, Thailand’s rice export price in June saw a slight increase compared to May, causing Thai rice to become less competitive when compared to other major exporters such as India and Vietnam.
According to the Agrotrade, there are plenty of bright prospects for Vietnamese rice exports ahead once the impending European Union-Vietnam Free Trade Agreement (EVFTA) comes into force in August this year
In line with the commitments set out within the EVFTA, the EU will give the country a quota of 80,000 tonnes of rice per year, with the tax rate for rice being slashed to 0% over the course of the next three to five years following the reduction roadmap.
Related News
Goods trading, being seen from Lang Son border gate
13:45 | 28/11/2024 Customs
Vietnam’s exports to the Philippines surge nearly 24% over 10 months
09:19 | 01/12/2024 Import-Export
7 key export groups bring in US$234.5 billion
13:54 | 28/11/2024 Import-Export
Latest News
Virtual booths open new doors for Vietnamese farm produce in China
19:08 | 01/12/2024 Import-Export
How will seafood exports to the US be affected after the US election?
09:17 | 01/12/2024 Import-Export
Vietnam’s auto industry solidifies its place in the global market
15:09 | 30/11/2024 Import-Export
Top 10 reputable logistics companies in 2024 announced
15:07 | 30/11/2024 Import-Export
More News
Exporting via e-commerce: Hesitation leads to missed opportunities
11:09 | 30/11/2024 Import-Export
The way for Vietnamese goods in the e-commerce race
11:08 | 30/11/2024 Import-Export
Coffee exports set to hit 5.6 billion USD in 2024
15:34 | 29/11/2024 Import-Export
Hai Duong exports grapefruit to EU
15:31 | 29/11/2024 Import-Export
Commodity group expects to hit import turnover of US$100 billion
11:07 | 29/11/2024 Import-Export
US businesses increase shrimp imports ahead of tax hike
11:05 | 29/11/2024 Import-Export
Ample room for Vietnam-Bulgaria economic, trade cooperation
14:04 | 28/11/2024 Import-Export
Peru’s mega-port to open opportunities for Vietnam's import-export, logistics
14:02 | 28/11/2024 Import-Export
Import turnover of iron and steel hits billions of dollars
13:52 | 28/11/2024 Import-Export
Your care
Virtual booths open new doors for Vietnamese farm produce in China
19:08 | 01/12/2024 Import-Export
Vietnam’s exports to the Philippines surge nearly 24% over 10 months
09:19 | 01/12/2024 Import-Export
How will seafood exports to the US be affected after the US election?
09:17 | 01/12/2024 Import-Export
Vietnam’s auto industry solidifies its place in the global market
15:09 | 30/11/2024 Import-Export
Top 10 reputable logistics companies in 2024 announced
15:07 | 30/11/2024 Import-Export