Rice exports bring in nearly 4 billion USD in 8 months

According to the General Statistics Office, in August, Vietnam exported 863,000 tons of rice, worth 510 million USD. In the past 8 months, Vietnam exported about 6.15 million tons of rice, worth nearly 3.85 billion USD, up nearly 6% in volume compared to the same period last year, but the value increased by 22%.

Vietnam's rice import markets are still traditional markets such as the Philippines, Indonesia, Malaysia and China. Of which, rice exports to the Philippines reached 2.8 million tons, bringing in more than 1.7 million USD, compared to the same period in 2023, up 19.7% in volume and 39.7% in value, accounting for more than 54.3% of the country's total rice exports.

Along with that, businesses are actively expanding to new markets such as the Middle East, South America, Japan, and Korea.

Regarding the average export price, according to data from the Vietnam Food Association updated on September 11, the export price of 5% broken rice from Vietnam reached 567 USD/ton, 2 USD/ton higher than the same type of rice from Thailand and 32 USD/ton higher than rice from Pakistan.

On September 11, the average export price of 5% broken rice reached 567 USD/ton (Photo: VGP).

Similarly, the average export price of 25% broken rice from Vietnam reached 533 USD/ton, 15 USD/ton higher than Thailand and 30 USD/ton higher than Pakistani rice.

Regarding the domestic rice market, in early September, the average price of 5% broken rice was 13,536 VND/kg; 25% broken rice was 13,233 VND/kg; and grade 1 white rice was 14,437 VND/kg.

The retail price of this item tends to increase. On the morning of September 12, at a rice shop on Khuc Thua Du Street (Hanoi), Ms. Ngoc, the shop owner, said that before the news of super typhoon Yagi, the price of rice from the dealer increased by 100-300 VND/kg per day.

"Production facilities reported an increase. However, purchasing power in the retail market is moderate, so I only increased retail prices relatively. Compared to the beginning of last week, the price increased by about 1,000-1,500 VND/kg," she said.

To support rice exports, the Import-Export Department (Ministry of Industry and Trade) said it has been implementing trade activities, promoting Vietnamese rice products and brands, and trade promotion activities to effectively exploit advantages from free trade agreements (FTAs).

At the same time, implement activities to promote Vietnamese rice, especially high-quality rice with high added value, to penetrate demanding and niche markets.

In addition, the Import-Export Department also guided the Vietnam Food Association and rice export traders to improve their capacity to negotiate, sign and implement export contracts, update the rice export situation and support traders to handle problems when necessary.

Source: https://dantri.com.vn/kinh-doanh/xuat-khau-gao-mang-ve-gan-4-ty-usd-trong-8-thang-20240912204435102.htm