Source: Vtv.vn
According to the Ministry of Agriculture and Rural Development, with the increasing import momentum of partners, our country’s rice exports are expected to reach about 8 million tons this year, earning more than 5 billion USD and setting a new record for the industry.
Traditional import markets such as the Philippines, Indonesia and Malaysia will continue to maintain high demand. At the same time, businesses are actively expanding to new markets such as the Middle East, South America, Japan and South Korea. The scarcity of supply from other countries and the increasingly improved quality of Vietnamese rice are a solid foundation for achieving this goal.
Mr. Phung Duc Tien – Deputy Minister of Agriculture and Rural Development said: “Although the rice area is only 7.1 million hectares for 2.2 crops, our rice productivity is high, increasing by 1.1 quintals/ha with high-quality rice varieties, reaching 89%. With favorable farming conditions, our output will reach over 43 million tons and rice exports will be over 5 million tons as the set target”.
Earlier, on exports, the Vietnam Food Association said 5% broken rice was offered at $578 per tonne. Trading activity was thin as the market entered a long holiday for National Day, according to a trader in An Giang. Traders are also awaiting the results of a tender from Indonesia’s state procurement agency Bulog, which is expected to be announced on September 5. Last week, the agency conducted an international tender to buy about 350,000 tonnes of rice.
Meanwhile, Thai rice export prices rose to a two-month high on a stronger baht, while flooding in Bangladesh raised supply concerns. Thai 5% broken rice was quoted at $580 a tonne, up from $570 last week, a Bangkok-based trader said, as the baht strengthened.
Rice prices in Bangladesh remain high and may rise further as flooding is expected to affect production and supplies across the country.
India’s 5% broken parboiled rice was quoted at $540-$545 a tonne. A New Delhi-based dealer with a global trading firm said that a few months ago, Indian rice was significantly cheaper than other countries, but now the difference has come down to $10-$30 a tonne and buyers are looking for other options.
