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Vietnam Today

Vietnam earns $1.1 billion from rice export in 4 months

Released at: 14:13, 05/05/2018

Vietnam earns $1.1 billion from rice export in 4 months

Photo from tapchìtaichinh.vn

China remains the biggest importer of Vietnamese rice with 29.1 per cent of the rice market share.

by Van Chi

Vietnam earned $1.1 billion from exporting 2.16 million tons of rice in the first four months of 2018. This marks an increase of 35.7 per cent in value and 21.7 per cent in volume, the Vietnam News Agency reported.

China still remains the biggest importer of Vietnamese rice. It has 29.1 per cent of the rice market share, according to the Ministry of Agriculture and Rural Development.

The average export price for rice showed a year-on-year rise of 15 per cent and has reached $501 per ton, thanks to its improved quality.

High-quality rice made up 81 per cent of the rice export volume, the ministry said, forecasting that the world’s rice market will see a decrease in supply and an increase in demand in the future.

In 2018, Vietnam is forecast to ship 6.5 million tons of rice abroad, which is 700,000 tons more than 2017’s shipments.

According to Vietnam’s Rice Market Development Strategy for 2017 to 2020 with a vision to 2030, one of the country’s goals is to gradually reduce volume but increase value.

Vietnamese rice is now exported to over 130 markets worldwide.

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