China increased Vietnam's rice imports by 2.7 times

In the first 4 months of 2020, the Philippines still ranked first in the rice export market of Vietnam. Notably, China increased rice imports from Vietnam, 2.7 times.

Department of Agricultural Product Processing and Market Development (Ministry of Agriculture and Rural Development) said that as of May 15, rice export volume was 2.6 million tons, valued at 1.2 billion USD, up 5.3% in volume and 18.6% in value over the same period in 2019.

Generally, the export volume of rice in May 2020 is estimated at 789,000 tons with a value of 415 million USD, bringing the total volume and value of rice exports in the first 5 months of 2020 to nearly 2.9 million tons and 1.41 billion USD, an increase of more than 5% in volume and an increase of nearly 19% in value over the same period in 2019.

In the first 4 months of 2020, the Philippines still ranked first in Vietnam's rice export market with 40.5% of the market share, the volume reached 902,100 tons, worth US $ 401.3 million, up 11.4%. in volume terms and up 26% in value over the same period in 2019.

In addition, the Chinese market also increased rice imports from Vietnam, 2.7 times higher than the same period in 2019, Taiwan increased by nearly 68% and Gana increased by 39.3%.

The average export price of rice in the first 4 months of 2020 reached US $ 470.2 / ton, up 10% over the same period in 2019.

Regarding export categories, in the first four months of 2020, the value of white rice exports accounted for 42.7% of total turnover; jasmine rice and fragrant rice account for 35.2%; sticky rice accounted for 16.5%; japonica rice and Japanese rice accounted for 5.4%.

In particular, China is Vietnam's largest glutinous rice export market with 152.4 million USD, accounting for 68.7%, Philippines with 23.9 million USD, accounting for 10.8% and Malaysia with 14.8 million. USD, accounting for 6.7%.

Vietnam's largest export markets for white rice are the Philippines with 288.4 million USD, accounting for 62.4%, Malaysia with 63.2 million USD, accounting for 13.7% and Ghana with 13.3 million USD, accounting for 2.9%.

With jasmine rice and fragrant rice, the largest export market is the Philippines with 156.3 million USD, accounting for 37.4%, Ghana with 52.0 million USD, accounting for 12.4% and Gabon with 42.9 million USD, accounting for 10.2%.

The good news is, Vietnam's rice export price has increased significantly, reaching the highest level in the past 1 year, reaching 450 - 460 USD / ton.

Meanwhile, Thai rice prices have dropped in the past month due to the newly added supplies and drought constraints, while facing fierce competition from cheaper Indian suppliers. and Vietnam.

Demand for Thai rice has not changed much in recent weeks, but the country's rice exporters expect Filipino customers to be interested in Thai rice when prices fall, despite strong competition from Vietnamese rice.

Currently, standard 5% broken rice of Thailand is listed at 480 - 505 USD / ton, down from early May listed at 557 USD / ton. 5% broken rice of India increased from 378 - 383 USD / ton to 385 - 389 USD / ton.

According to the Department of Processing and Market Development of Agricultural Products compared to the previous month, logistics activities in major producing countries such as India and Vietnam are gradually recovering from the COVID-19 epidemic, helping to supply rice to the market. World market is more improved.

Source: https://vietnambiz.vn/trung-quoc-tang-nhap-khau-gao-viet-gap-27-lan-2020060417261298.htm

China increased Vietnam's rice imports by 2.7 times

China increased Vietnam's rice imports by 2.7 times

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