10:07 | 01/11/2016 Trade
Vietnam’s rice exports are estimated to hit 4.2 million tonnes in the first ten months of this year, according to the Ministry of Agriculture and Rural Development.
Rice bags are being loaded down a ship (Photo: VNA)
Vietnam exported 368,000 tonnes of rice for US$164 million in October, bringing the total volume and value in the first ten months of this year to 4.2 million tonnes and US$1.9 billion.
The figures represented decreases of 21.2% in volume and 16.9% in value compared with the same period last year.
China remained the biggest importer of Vietnam’s rice with 35.4% of the market share. A total of 1.35 million tonnes worth US$613.8 million were shipped to the market between January-October, down 23% in volume and 13.9% in value year-on-year.
Ghana followed with 387,000 tonnes and US$189.6 million, up 41.8% in volume and 36.2% in value year-on-year.
Rice exported to several markets suffered from drastic decreases, including the Philippines, Malaysia, Singapore, and the US.
Of note is that the Philippines will open the bidding for 293,000 tonnes of rice as part of its plan to ensure food supply for next year.
In the Mekong Delta province of An Giang, the price of fresh IR50404 paddy rose by 200 VND per kg to VND4,400 (US$0.2) per kg while the price of OM 1490 and OM 2514 paddy increased to VND4,700 per kg.
In Vinh Long, the price of dried IR50404 paddy fetched VND5,000 per kg.
In Bac Lieu, the price of OM 5451 and OM 6976 paddy stands at VND 4.000-4.200 per kg; the price of dried OM 5451 paddy rose from VND5.200 to VND5.500 per kg and dried OM 4900 increased from VND5.400 to VND5.600 per kg./.