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Export prices soar
As one of Vietnam's leading rice exporters, Loc Tien is one of the enterprises that maintains a large number of high value-added orders to the world's major markets
.
At the recent 2022 annual general meeting of Lutian Group Co.
, Ltd.
, Mr.
Philip Rosler, a member of the board of directors of Lutian Group and former German Deputy Chancellor, said that Lutian's rice has reached the standards of the most demanding market in the world a long time ago.
, and is very popular in the EU
.
.
At the recent 2022 annual general meeting of Lutian Group Co.
, Ltd.
, Mr.
Philip Rosler, a member of the board of directors of Lutian Group and former German Deputy Chancellor, said that Lutian's rice has reached the standards of the most demanding market in the world a long time ago.
, and is very popular in the EU
.
Another rice exporter, Zhong An Company, has been rushing to complete an order of 15,000 tons of rice for the South Korean market these days, with the delivery time being extended to June 2022
.
Fan Taiping, general manager of Zhongan High-Tech Agriculture Co.
, Ltd.
shared that this is 100% broken rice, which is used as raw material for beer production.
It is imported from South Korea and its price is US$369/ton (FOB price), which is higher than the export price of similar rice from the Vietnam Food Association.
31 US dollars / ton higher
.
.
Fan Taiping, general manager of Zhongan High-Tech Agriculture Co.
, Ltd.
shared that this is 100% broken rice, which is used as raw material for beer production.
It is imported from South Korea and its price is US$369/ton (FOB price), which is higher than the export price of similar rice from the Vietnam Food Association.
31 US dollars / ton higher
.
Under the trend of increasing the demand for rice imports in the world after the pandemic, many other Vietnamese rice exporters besides Zhong An are also working hard to promote the export of this project
.
Statistics from the Ministry of Industry and Trade show that in the first quarter of 2022, rice was one of the commodities with the largest export volume, with an export volume of 1.
48 million tons, equivalent to US$715 million, a year-on-year increase of 24%, and a year-on-year increase of 10.
5% in export value
.
.
Statistics from the Ministry of Industry and Trade show that in the first quarter of 2022, rice was one of the commodities with the largest export volume, with an export volume of 1.
48 million tons, equivalent to US$715 million, a year-on-year increase of 24%, and a year-on-year increase of 10.
5% in export value
.
Statistics from the Vietnam Food Association show that in the world market, the price of Vietnamese rice still maintains a leading position among rice exporters
.
Specifically, in the first week of April 2022, the export price of 5% broken rice rose by US$12-15/ton from the beginning of the year, and rose by about US$10/ton from the beginning of March, and its price was US$415/ton, the highest in the past three months.
price
.
The Thai rice is currently trading at $408-412 per ton
.
This is the highest price in the past 4 months
.
.
Specifically, in the first week of April 2022, the export price of 5% broken rice rose by US$12-15/ton from the beginning of the year, and rose by about US$10/ton from the beginning of March, and its price was US$415/ton, the highest in the past three months.
price
.
The Thai rice is currently trading at $408-412 per ton
.
This is the highest price in the past 4 months
.
The Ministry of Industry and Trade explained that efforts to shift the structure of rice exports from low-end products to high-end products are one of the reasons for the rapid increase in the value of rice exports
.
At present, many places in Vietnam are paying attention to the variety structure
.
More and more specialty and fragrant rice varieties are being grown, helping to affirm Vietnamese rice brands in many "picky" markets
.
This explains why the price of Vietnamese rice is higher than some traditional exporting countries, but the world consumers still choose to sign contracts to import Vietnamese rice
.
.
At present, many places in Vietnam are paying attention to the variety structure
.
More and more specialty and fragrant rice varieties are being grown, helping to affirm Vietnamese rice brands in many "picky" markets
.
This explains why the price of Vietnamese rice is higher than some traditional exporting countries, but the world consumers still choose to sign contracts to import Vietnamese rice
.
In the Nordic region, for example, Europe is not entirely self-sufficient in rice, according to Vietnam, which also serves as the Nordic Market Trade Office in Sweden
.
About 60% of the demand is met by regional production, bringing the region's milled rice import demand to 1.
8 million tonnes
.
The EU Agriculture Outlook 2020-2030 forecasts an increase in demand for imported rice by 2030
.
Imports will increase by about 250,000 tons over the next decade
.
This is also the reason why Vietnam's rice exports to the Nordic market have maintained a good growth in the past period of time
.
.
About 60% of the demand is met by regional production, bringing the region's milled rice import demand to 1.
8 million tonnes
.
The EU Agriculture Outlook 2020-2030 forecasts an increase in demand for imported rice by 2030
.
Imports will increase by about 250,000 tons over the next decade
.
This is also the reason why Vietnam's rice exports to the Nordic market have maintained a good growth in the past period of time
.
On the commercial side, in 2021, Lu Tian Group exported 4,170 tons of high-quality rice from specialized growing areas to the EU, including the first batch of rice exported under the Vietnam-EU Free Trade Agreement (EVFTA)
.
With this, in addition to methodically investing in the material sector, the Lutian Group is also effectively maintaining contacts with partners in Europe
.
Loc Tien Group believes that in 2022 Vietnam's high-quality rice will be more available in the EU and Australian markets
.
.
With this, in addition to methodically investing in the material sector, the Lutian Group is also effectively maintaining contacts with partners in Europe
.
Loc Tien Group believes that in 2022 Vietnam's high-quality rice will be more available in the EU and Australian markets
.
Continue to focus on maintaining rice quality
In recent years, Vietnamese fragrant rice and specialty rice such as ST24, ST25, and Jasmine have entered many large markets such as the European Union, helping to increase export turnover
.
In 2022, Vietnam is expected to export at least 60,000 tons of rice to the EU market, especially to traditional markets such as Germany, Italy, and Poland
.
.
In 2022, Vietnam is expected to export at least 60,000 tons of rice to the EU market, especially to traditional markets such as Germany, Italy, and Poland
.
Convinced of the goal of gradually reducing production and increasing the value of rice exports, Vietnam's Ministry of Agriculture and Rural Development recently approved the "Vietnam Rice Industry Structural Adjustment Project to 2025 and 2030"
.
Accordingly, Vietnam will restructure its structure towards enhancing value and promoting sustainable development
.
The rice industry is also geared towards the goal of improving the quality and value of Vietnamese rice
.
Since then, the formation and upgrading of industrial value chains will help adapt to climate change, increase farmers' incomes, and meet consumer demand for high-quality rice
.
.
Accordingly, Vietnam will restructure its structure towards enhancing value and promoting sustainable development
.
The rice industry is also geared towards the goal of improving the quality and value of Vietnamese rice
.
Since then, the formation and upgrading of industrial value chains will help adapt to climate change, increase farmers' incomes, and meet consumer demand for high-quality rice
.
On the other hand, according to experts, in addition to improving rice varieties and quality according to taste, increasing the value of rice exports in a sustainable way also requires branding
.
The same quality rice but with a good brand name can sell for 10%-20% higher price
.
.
The same quality rice but with a good brand name can sell for 10%-20% higher price
.
From the perspective of the Ministry of Industry and Trade, in the coming period, the Ministry of Industry and Trade will continue to support enterprises to provide market information, promote exports, use the commitments in the signed free trade agreements and global value chains to find new markets, diversify market and increase the value of exported rice
.
.
On the corporate side, Mr.
Philip Rosler shared that although Lutian Group's rice exports were relatively smooth, the rice products did not have their own brands, but were distributed in the host countries under the names of partners
.
Therefore, Lutian Group is working hard to export Lutian 28, Jasmine, Vibigaba, Mekong vitality and other products to the EU market under the Lutian brand, helping Lutian rice not only increase its turnover, but also affirm its quality status in this market.
.
(Finish)
Philip Rosler shared that although Lutian Group's rice exports were relatively smooth, the rice products did not have their own brands, but were distributed in the host countries under the names of partners
.
Therefore, Lutian Group is working hard to export Lutian 28, Jasmine, Vibigaba, Mekong vitality and other products to the EU market under the Lutian brand, helping Lutian rice not only increase its turnover, but also affirm its quality status in this market.
.
(Finish)
