Vietnamese rice value highest on the planet

“Particularly, the Philippines’ discount of rice import tax from 35% to fifteen% has helped companies on this nation to boldly enhance imports in comparison with earlier than. In the meantime, in our nation, the summer-autumn crop is about to finish and we’re getting ready for the fall-winter crop. Each of those crops are usually not the primary manufacturing crops of the yr, so the output is just not massive,” mentioned Mr. Don.

Mr. Nguyen Viet Anh – Common Director of Phuong Dong Meals Firm Restricted – mentioned that the demand for rice available in the market has at all times been excessive in current instances, and the fluctuation in rice costs is as a result of affect of seasonality. Just lately, Vietnamese enterprises received bids for giant volumes of products however have been keen to supply low costs as a result of the rice provide was bought and saved from the start of the yr, when Vietnam was in the primary crop season.

Right now, when provide is restricted whereas international locations are accelerating imports to arrange for the dry season subsequent yr, rice costs are pushed up. Mr. Viet Anh predicts that Vietnam’s rice exports will probably proceed to be secure, and costs will enhance till the tip of this yr if India has not but lifted the ban on rice exports to stabilize home meals safety.

Mr. Nguyen Ngoc Nam – Chairman of the Vietnam Meals Affiliation – assessed that import demand from conventional clients of Vietnamese rice such because the Philippines, Indonesia, Ghana, Malaysia, Singapore… continues to stay excessive. Together with that, rice exporting enterprises are additionally actively increasing to new markets such because the Center East, Africa, South America, Japan, Korea…

Statistics from the affiliation present that previously 7 months, Vietnam has exported over 5.1 million tons of rice, with a turnover of three.2 billion USD, a rise of 25% in quantity and 5.8% in worth in comparison with the identical interval final yr.

Vietnam’s common rice export value is presently very excessive. At one level, Vietnam’s rice export value to Brunei reached 959 USD/ton, to the US it reached 868 USD/ton, to the Netherlands it reached 857 USD/ton, to Ukraine it reached 847 USD/ton, to Iraq it reached 836 USD/ton, to Turkey it reached 831 USD/ton…

With the growing import momentum of companions, Mr. Nam mentioned that Vietnam’s rice export this yr might attain about 8 million tons, incomes greater than 5 billion USD – a brand new report for the trade.

Xuan Phong