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news, such as a significant increase in the value of rice exports and rice export prices exceeding the price of rice in Thailand.
This year is expected to be another record year
for Vietnamese rice.
Good news received from rice exports
As one of Vietnam's famous rice exporters, Chungan High-Tech Agricultural Joint Stock Company has won the bid to export rice
in a row.
Fan Taiping, general manager of the company, shared that the company signed new orders
in a row.
Recently, the company just won a bid to export 20,000 tons of rice to South Korea, worth more than $9 million, and expects to export
it in early 2023.
This is not the first time Chung-an has won a bid to export rice to South Korea, which has a relatively high contract value
.
in a row.
Fan Taiping, general manager of the company, shared that the company signed new orders
in a row.
Recently, the company just won a bid to export 20,000 tons of rice to South Korea, worth more than $9 million, and expects to export
it in early 2023.
This is not the first time Chung-an has won a bid to export rice to South Korea, which has a relatively high contract value
.
Not only Chungan but also many rice exporters have ushered in many advantages
.
According to the General Administration of Customs, Vietnam's rice exports reached 713,546 tons in October 2022, with an export value of US$341.
064 million, an increase of 22.
3% and 23.
9%
respectively in export volume and export value compared to September 2022.
October 2022 became the highest month
for rice exports in the history of Vietnam's rice industry.
.
According to the General Administration of Customs, Vietnam's rice exports reached 713,546 tons in October 2022, with an export value of US$341.
064 million, an increase of 22.
3% and 23.
9%
respectively in export volume and export value compared to September 2022.
October 2022 became the highest month
for rice exports in the history of Vietnam's rice industry.
The Philippines and China alone account for 57.
47%
of the country's total rice exports.
The export to the Philippines was 2.
739 million tons, accounting for 45.
02%, with a value of US$1.
266 billion, with export volume and export value increasing by 30.
84% and 18.
39% respectively year-on-year
.
Exports to China were 757,575 tons, accounting for 12.
45%, with a value of $382.
676125 million
.
47%
of the country's total rice exports.
The export to the Philippines was 2.
739 million tons, accounting for 45.
02%, with a value of US$1.
266 billion, with export volume and export value increasing by 30.
84% and 18.
39% respectively year-on-year
.
Exports to China were 757,575 tons, accounting for 12.
45%, with a value of $382.
676125 million
.
By the end of the first 10 months of 2022, Vietnam had exported 6.
1 million tons of rice, earning US$3 billion
.
It is worth mentioning that the average export price of Vietnamese rice ranks first in the world, much higher than Thailand (the country with the second average rice price in the world) of 23 US dollars / ton
.
1 million tons of rice, earning US$3 billion
.
It is worth mentioning that the average export price of Vietnamese rice ranks first in the world, much higher than Thailand (the country with the second average rice price in the world) of 23 US dollars / ton
.
Among them, the Philippines and China, the two markets, account for 57.
47%
of the country's total rice exports.
The export to the Philippines was 2.
739 million tons, accounting for 45.
02%, with a value of US$1.
266 billion, with export volume and export value increasing by 30.
84% and 18.
39% respectively year-on-year
.
Exports to China were 757,575 tons, accounting for 12.
45%, with a value of $382.
676125 million
.
47%
of the country's total rice exports.
The export to the Philippines was 2.
739 million tons, accounting for 45.
02%, with a value of US$1.
266 billion, with export volume and export value increasing by 30.
84% and 18.
39% respectively year-on-year
.
Exports to China were 757,575 tons, accounting for 12.
45%, with a value of $382.
676125 million
.
Exports to demanding markets also showed high growth
.
In the first 10 months of this year, rice exports to the US market increased by 84.
8%; The EU market increased by 82.
2%.
.
In the first 10 months of this year, rice exports to the US market increased by 84.
8%; The EU market increased by 82.
2%.
According to the Vietnam Food Association (VFA), Vietnam's rice exports are gaining a foothold in the EU market nearly two years after the implementation of the Vietnam-EU Free Trade Agreement (EVFTA
).
).
Fragrant rice, ST24, ST25, Jasmine and other high-quality rice are popular among the people of the region
.
After EVFTA came into effect, the EU gave Vietnam an annual export quota of 80,000 tons of rice at a tax rate of 0%.
.
After EVFTA came into effect, the EU gave Vietnam an annual export quota of 80,000 tons of rice at a tax rate of 0%.
However, in 2021, Vietnam's exports of fragrant rice to the EU will reach nearly 38,000 tons
.
Vietnam is expected to export at least 60,000 tons of rice to the EU market in 2022
.
.
Vietnam is expected to export at least 60,000 tons of rice to the EU market in 2022
.
According to experts, since October 2022, there has been an unexpected movement in the world rice market, with India, which accounts for 40% of global rice exports, issuing rice export restrictions.
At the same time, India also imposes a 20% export tax
on white and brown rice products, which account for 60% of India's total rice exports.
At the same time, India also imposes a 20% export tax
on white and brown rice products, which account for 60% of India's total rice exports.
Against the backdrop of increased global rice demand, this move by India opens the door
for Vietnamese rice exports.
At the same time, the efforts of enterprises to diversify the variety of exported rice are also the driving force
behind Vietnam's rice exports.
for Vietnamese rice exports.
At the same time, the efforts of enterprises to diversify the variety of exported rice are also the driving force
behind Vietnam's rice exports.
Record export prices
In addition to high export volumes, rice exports have also increased
significantly.
According to the Vietnam Food Association, the price of 5% broken rice in Vietnam was US$425-430 per tonne in October, the highest level
since November last year.
This price is $48-51/mt higher than similar rice in India and US$18-23/mt
higher than similar rice in Thailand.
significantly.
According to the Vietnam Food Association, the price of 5% broken rice in Vietnam was US$425-430 per tonne in October, the highest level
since November last year.
This price is $48-51/mt higher than similar rice in India and US$18-23/mt
higher than similar rice in Thailand.
Meanwhile, Thailand's 5% broken rice price fell by US$28/mt, from US$435/mt to US$407/mt, the lowest level
since the end of July 2022.
since the end of July 2022.
Phan Van You, marketing director of Vrice Co.
, Ltd.
, said that Vietnam's rice export prices have continued to rise, and the current price of 5% broken rice has remained at 440-450 US dollars / ton.
The price increase was due to high demand for international imports in the final months of the year, while supplies were limited
by bad weather in some rice-growing countries.
, Ltd.
, said that Vietnam's rice export prices have continued to rise, and the current price of 5% broken rice has remained at 440-450 US dollars / ton.
The price increase was due to high demand for international imports in the final months of the year, while supplies were limited
by bad weather in some rice-growing countries.
Judging from the fact that more than 6 million tons have been exported in the first 10 months of this year, at least 600,000 tons will be exported each month for the remaining two months of this year, and it is expected to export 7.
2 million to 7.
3 million tons of rice
this year.
2 million to 7.
3 million tons of rice
this year.
In recent years, the price of rice in Vietnam has been higher than that of Thailand
many times.
It has become the norm
for Vietnamese rice to sell for more than Thai rice.
Vietnamese rice developed later to Thailand, but many new rice varieties are being developed to improve production processes
.
At the same time, Vietnamese rice is more and more popular with consumers because it is fresher than Thai rice of the same kind
.
many times.
It has become the norm
for Vietnamese rice to sell for more than Thai rice.
Vietnamese rice developed later to Thailand, but many new rice varieties are being developed to improve production processes
.
At the same time, Vietnamese rice is more and more popular with consumers because it is fresher than Thai rice of the same kind
.
The increase in the average export price of Vietnamese rice is also due to the recent shift in Vietnamese rice exports to the market share
of fragrant rice and high-quality rice.
of fragrant rice and high-quality rice.
Vietnam Food Association said that Vietnamese fragrant rice and high-quality rice are produced from other rice varieties such as Tai Xiang 8, OM 5451, OM 18, etc.
, which are rice varieties
that cannot be replaced by any rice exporting country.
These are rice varieties that meet market demand and are highly competitive
with fragrant rice from Thailand and Cambodia.
, which are rice varieties
that cannot be replaced by any rice exporting country.
These are rice varieties that meet market demand and are highly competitive
with fragrant rice from Thailand and Cambodia.
Vietnam's Ministry of Agriculture and Rural Development has predicted that without weather anomalies and epidemics, Vietnam will have enough 6.
5 million to 6.
7 million tons of rice for export, which is expected to reach about
3.
2 billion to 3.
3 billion US dollars this year.
However, judging from the fact that more than 6 million tons have been exported in the first 10 months of this year, at least 600,000 tons will be exported each month for the remaining two months of this year, and it is expected to export 7.
2 million to 7.
3 million tons of rice
this year.
This is still a positive result for Vietnamese rice, exceeding the 2021 figure (6.
2 million tons of exports and $3.
3 billion in foreign exchange).
(End)
5 million to 6.
7 million tons of rice for export, which is expected to reach about
3.
2 billion to 3.
3 billion US dollars this year.
However, judging from the fact that more than 6 million tons have been exported in the first 10 months of this year, at least 600,000 tons will be exported each month for the remaining two months of this year, and it is expected to export 7.
2 million to 7.
3 million tons of rice
this year.
This is still a positive result for Vietnamese rice, exceeding the 2021 figure (6.
2 million tons of exports and $3.
3 billion in foreign exchange).
(End)
