Rice export value up nearly 19%

VGP – Viet Nam gained US$1.41 billion from exporting 2.9 million tons of rice in Jan-May period, up 5.1% and 18.9% in terms of volume and value against the same period last year, according to the Ministry of Agriculture and Rural Development.

June 06, 2020 5:55 PM GMT+7

In the first four months of 2020, the Philippines was the largest importer of Viet Nam’s rice, accounting for 40.5%, with 902,100 tons, worth US$401.3 million, year-on-year increases of 11.4% and 26% in terms of volume and value.

In addition, rice exports to other markets also remarkably increased such as China and Indonesia (2.7-fold increase), Chinese Taipei (up 67.9%) and Ghana (up 39.3%).

Rice exports have rocketed right after the Government allowed resuming rice exports since May 1. In May, the price of Vietnamese rice set a new record with the average price of US$527 per ton, up 5.6% compared to April and up 21.4% against in 2019.

The price of Viet Nam’s exported rice in the first five months rose 13% in comparison with the same period last year, reaching US$485 per ton.

The Ministry of Industry and Trade forecasted that Viet Nam has many opportunities to overcome Thailand in rice exports this year thanks to its competitive prices and sharply increases in export turnover.

By Thuy Dung