Vietnam exports nearly 1 billion USD of rice

Rice exporters are accelerating with orders to export rice to many major markets after the impact of COVID-19.

After being allowed to export rice by the Prime Minister again from January 1.5, many businesses have promoted export contracts and found partners.

In recent months, Phuoc Thanh 4 Company tried to buy a large amount of Winter-Spring rice for processing because of the increasing demand for rice imports. While, the quality of this crop is quite good, customers prefer, many units are planning to buy Summer-Autumn rice at the beginning of the season.

"My company currently has about 10,000 tons of rice. Recently, we also signed a contract of 3,000 tons with partners. Many potential customers are also looking to buy rice from the Company," said Nguyen Van Thanh, Director of Phuoc Thanh 4 Production and Trading Company Limited shared.

The price of rice in the world market is extremely vibrant, sometimes skyrocketing to a 7-year high. Compared to domestic prices, rice prices also peaked in the past two years. The demand for purchasing reserve rice has increased, so businesses have the opportunity to expand the export market.

The average export price of rice in 4 months reached US $ 470.2 / ton, up 9.9% over the same period in 2019. In the past 4 months, the Philippines continued to be the largest rice consumption market of Vietnam, accounting for 40.5% of total export turnover, reaching 902,061 tons, equivalent to US $ 401 million, up 10.8 in volume and up 25.2% in turnover. According to Mr. Nguyen Van Nhut, Director of Hoang Nhat Joint Stock Company, Can Tho City, the Company exports many contracts to Asia, Europe and the US ...

In the first 4 months, Vietnam exported 2.1 million tons of rice, earning US $ 991 million, up approximately 10% of turnover and price. Currently, businesses continue to sign many new export contracts. In addition, the increase in purchase of domestic reserve rice is also helping the rice market become more active.

Rice exports to China became the second largest market of Vietnamese rice. Specifically, the rice export for 4 months reached 274,000 tons, valued at US $ 158 million, up 131% in volume and 172% in turnover. Next is Malaysia market with 220,172 tons, equivalent to 90.7 million USD, up 5.4% in volume, up 10.8% in turnover.

Source: https://nhipcaudautu.vn/kinh-doanh/viet-nam-xuat-khau-gao-gan-1-ti-usd-3335043/