Vietnam Rice Export Declines in Key Markets | Early-Year Market Update – Cam Rice

Rice exports in early 2021 decreased in output and turnover, however, the price of rice in the country is increasing due to demand for consumption along with the trend of increasing world prices.

According to the General Department of Customs, the amount of rice exported in the first month of 2021 is estimated at 347,774 tons, equivalent to 191.88 million USD (down 36.4% in volume and 34.2% in turnover compared to December / 2020). Rice export prices in January 2021 averaged $ 551.7 / ton, up 3.4% over December 2020 and 15.4% over January 2020.

The largest rice consumption market of Vietnam, the Philippines in the first month of 2021, fell sharply by 38% in both volume and turnover compared to December 2020, accounting for 48% of the total rice export volume and turnover of country. However, rice export prices to the Philippines increased slightly by 2%, reaching an average of 537.9 USD / ton.

China is the second rice consumption market of Vietnam, reaching 57,849 tons, worth 30.13 million USD, down 1.2% in volume and 3.9% in turnover, accounting for 16% of the total volume and total rice export turnover of the country.

Although the export turnover decreased in the first month of 2021, there are still many optimistic assessments about rice exports this year, the world market price of rice is also tending to increase.

In the world, India's 5% rice price tends to increase slightly steadily in the month from 384 USD / ton to 388 USD / ton at the end of the month. Thai rice prices also increased but with a higher margin from 513 USD / ton at the beginning of the month to 523 USD / ton at the end of the month.

In the domestic market, prices of paddy and rice in the Mekong Delta provinces increased in January.

According to the assessment in provinces such as Hau Giang, Can Tho, Dong Thap ... the yield of the winter-spring crop this year will reach a high level. On the other hand, the rice export market has many advantages, so the rice price has also increased significantly over the same period.

The Vietnam Food Association (VFA) forecasts that rice exports in 2021 will still maintain an optimistic signal in terms of both output and price. Currently, the main export markets of Vietnam such as the Philippines, Africa ... continue to sign contracts to buy rice from Vietnam and rice prices are at very positive levels./.

Source: https://vov.vn/kinh-te/xuat-khau-gao-sang-cac-thi-truong-chinh-sut-giam-trong-thang-dau-nam-838381.vov