Vietnamese Rice Exports In The First Quarter of 2022 Grows In Volume, Value and Price
August 19, 2022
Factory Offers
The supply of wheat and cereals in the world is scarce, so the demand for rice imports and the price of Vietnamese rice in the market is very high.
According to preliminary statistics of the overall Department of Customs, in March 2022, Vietnam exported 531,389 heaps of rice, appreciate 262.95 million USD, the common price was 494.8 USD/ton, increasing in volume, turnover and price compared to February 2022, with a rise of 13.3%, 17.7% and 3.9%, respectively. However, compared with March 2021, it decreased in both volume, turnover and price, with a corresponding decrease of 1.4%, 9.6% and 8.3%.
In recent months, the Philippines continues to be the largest import market of Vietnam, accounting for 49.89% of the country’s total Vietnamese Delicious rice exports; followed by China, Africa… Besides the traditional markets, Vietnamese rice has penetrated into large, high-value markets. In the group of rice import markets of Vietnam, the US market has the strongest growth (up 65.3% in the first half of the year).
In March 2022, Vietnamese Delicious rice exports to the most market Philippines decreased by 56% in both volume and value compared to February 2022, reaching 135,958 tons, comparable to 62.19 million USD; down 12.7% in volume, 24.5% in turnover compared to March 2021.
Vietnamese Delicious Rice exports to the Chinese
Rice exports to the Chinese market continued to extend strongly, at 114.6 percent in volume and 129.2% in turnover, reaching 96,317 tons, appreciating USD 50.03 million; but compared to March 2021, it decreased slightly (by 1.5%) in volume, down 5.3% in turnover.
For the full half-moon of 2022, the country’s rice export volume reached over 1.5 million tons, adore over 730.76 million USD, up 26% in volume, up 12.7% in turnover compared to the primary quarter in 2021, the common price reached 486.2 USD/ton, down 10.6%.
The Philippines still ranks first in Vietnam’s rice consumption, accounting for 44.7% of the full volume and 42.6% of the country’s total rice export turnover, reaching 672,136 tons, similar to USD 311.08 million, with average price of 462.8 USD/ton, increased sharply by 63.3% in volume, 41.4% in turnover but decreased by 13.4% in price compared to the primary quarter of 2021.
Followed by the Chinese market, accounting for over 11.9% of the full volume and 12.4% of the entire turnover, reaching 178,201 tons, adore 90.82 million USD, the typical price of 509.7 USD/ton, plummeted 30.5% in volume, 33.3% in turnover and 4% in price compared to the primary quarter of 2021.
The Ivory Coast market ranked third with 182,104 tons, similar to 77.18 million USD, price was at 423.8 USD/ton, a pointy increase of 107.4% in volume and 74% in turnover but a decrease of 16% in price over the identical period last year, accounting for 12.1% of the full volume and 10.6% of the overall rice export turnover of the country.
Currently, businesses are taking full advantage of the increased demand from the market to boost exports. Director of Phuoc Thanh IV Production and Trading Company Limited (Vinh Long province) Nguyen Van Thanh said that the demand for rice imports in markets is still high, especially the Philippines and China. Vietnamese rice is expanding to many markets, so businesses need to take advantage of this to increase export output.
With the goal of exporting 6.3 million tons of rice by 2022, worth $3.3 billion, many agricultural experts believe that rice exports can completely “reach the target”, even exceeding the plan proposed by the Ministry of Agriculture and Rural Development. out. To do that, businesses need to fully exploit the advantages of price, market demand and market group.
Marina Nguyen
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