Vietnam Earns US$1.98B from Rice Exports Jan-July
Vietnam is estimated to have exported 4.28 million tons of rice in the past seven months, earning US$1.98 billion, up 46.3 per cent in volume and 4.4 per cent in value against the same period last year, the government’s General Statistics Office (GSO) said July 24.
The export volume represents 85.6 per cent of the government’s rice shipment target for the year.
Analysts believe that domestic enterprises can ship six million tons of rice abroad this year as they have so far signed contracts to export 5.4 million tons. Meanwhile, top rice exporter Vinafood 2 has been in talks to sell up to 500,000 tons to the Philippines.
Export prices of Vietnamese rice have increased slightly in recent weeks thanks to higher demands from Asian and African countries.
Domestic rice exporters should boost export volume to take advantage of relatively good global prices and scarce supply, said Nguyen Dinh Bich, a rice expert at the Trade Research Institute under the Ministry of Industry and Trade at a conference in Hanoi on July 21.
“Vietnam does not have technology to preserve rice like Thailand; thus, the more rice we keep in stock, the greater the disadvantage,” Nguyen Dinh Bich said.
Vietnam currently is the world’s second largest rice exporter after Thailand. (GSO Jul Edition)
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