Having sold a huge amount globally, a Vietnamese enterprise also won a bid to supply 185,000 tons of rice to a Southeast Asian country.

According to the rice market website Ssricenews, the Indonesian National Logistics Agency (Bulog) has just announced the results of the July rice bidding with a quantity of 320,000 tons. Accordingly, Vietnamese enterprises won 7 out of 12 bidding packages, with a total quantity of 185,000 tons of rice.

Among the Vietnamese enterprises that won the bid, the Northern Food Corporation (VINAFOOD 1) won the most bids with 4 lots of 104,000 tons. There were 3 other units that won 1 lot of 27,000 tons each, including: Southern Food Corporation (VINAFOOD 2), Gia International Joint Stock Company, An Vi Import-Export Joint Stock Company. These are the units that use rice of Vietnamese origin.

In addition, Vietnam's Mekong Food Company also won the bid for 27,000 tons but used rice from Myanmar. In addition, the remaining 3 winning batches of rice also belonged to businesses from Myanmar. One unsuccessful batch will have to be re-bid.

According to information from the rice market website Ssricenews, in this bidding round, the Northern Food Corporation (Vinafood 1) offered rice prices from 567.5 - 577.5 USD/ton. The Southern Food Corporation (Vinafood 2) offered from 579.5 - 598 USD/ton. Thai and Pakistani enterprises also participated in the bidding but failed to win due to the high bid prices from 584 - 592 USD/ton.

The winning bids of Vietnamese and Myanmar enterprises this time are at the same price of 563 USD/ton. This price is equivalent to the price of Vietnamese enterprises winning the bid in May 2024.

Indonesia forecasts that its rice import demand will increase to 5.18 million tons in 2024, creating great opportunities for Vietnamese rice exporting enterprises.

The Indonesian National Logistics Agency (Bulog) recently announced the results of the July rice bidding with a quantity of 320,000 tons. Accordingly, Vietnamese enterprises won 7 out of 12 bidding packages, with a total quantity of 185,000 tons of rice. Source: rice market website Ssricenews

A recent report from the Ministry of Agriculture and Rural Development said that in July 2024, Vietnam exported nearly 500,000 tons of rice, bringing in 290 million USD. In the first 7 months of 2024, Vietnam exported 5.18 million tons of rice with a turnover of 3.27 billion USD, up 5.8% in volume and 25.1% in value over the same period in 2023. The average rice export price reached 632 USD/ton, up 18.2% over the same period last year.

In terms of market, the Philippines, Indonesia, and Malaysia are the three countries that import the most rice from Vietnam. In the first 7 months of 2024, Vietnam exported 1.98 million tons of rice to the Philippines, accounting for 38.2% of Vietnam's total rice exports.

Indonesia ranked second, with Vietnam's rice exports to this market reaching 830,000 tons. Compared to the same period in 2023, exports to this market increased by 44.6% in volume and increased sharply by 82.1% in value. The Indonesian market accounts for 16% of our country's total rice exports.

In Singapore, in the first 6 months of 2024, Vietnam remained the largest rice exporter to Singapore, accounting for 32.69% of the market share. This was achieved thanks to a sharp increase in export turnover, reaching a value of 73.40 million SGD (over 54.6 million USD), up 54.67% over the same period in 2023.

Currently, Vietnam is the country with the largest market share in Singapore for three rice groups: white rice (accounting for 48.62%); fragrant rice, milled or peeled (accounting for 69.43%) and sticky rice (78.05%).

Regarding production, the rice cultivation area reached 6.25 million hectares, up 0.2% over the same period last year; harvested 3.82 million hectares, up 1.3%; average yield was 65.6 quintals/ha, up 0.5 quintals/ha; rice output on the harvested area reached 25 million tons, up 2%.

In the first 7 months of the year, Vietnam exported 5.18 million tons of rice with a turnover of 3.27 billion USD, up 5.8% in volume and 25.1% in value over the same period in 2023.

Chairman of the Vietnam Food Association Nguyen Van Nam shared: “Vietnam's rice exports have made great strides in recent years. We have made constant efforts to improve product quality, diversify types of exported rice and expand new consumption markets. As a result, Vietnam has affirmed its position as the world's number one rice exporter.”

With impressive results in the first half of the year, businesses and experts expect Vietnam's rice exports to continue to flourish in the second half of 2024.

Currently, global food consumption and reserves remain high, while supply is tight due to the impact of economic and political instability and climate change. With the increasing demand for rice imports from many countries, especially from traditional markets for Vietnamese rice such as the Philippines, Indonesia, Malaysia and some African countries, the export price of rice will recover and continue to bring great opportunities for Vietnamese rice exporting enterprises in particular and the opportunity to develop the Vietnamese rice industry in general.

Source: https://danviet.vn/da-ban-luong-khong-lo-ra-toan-cau-doanh-nghiep-viet-con-thang-thau-cap-185000-tan-gao-cho-mot-nuoc-dong-nam-a-20240806121439525.htm