Space for development in ASEAN rice exports: Vietnam

Hanoi (Vietnam Information/AsiaNews): According to the Ministry of Business and Trade (MoIT), ASEAN’s 700 million current market has a ton in widespread with Vietnam in terms of tradition, practices and choices, and there is nonetheless place for advancement. exports, together with Vietnamese rice, the country’s main export.

To solution questions connected to the import and export of rice in the ASEAN market place, the trade facilitation department of the ministry held a operating assembly with Vietnamese exporters in southern An Giang province, a big rice producer in Vietnam, on Thursday (May 5).

In accordance to the ministry, the Philippines is Vietnam’s premier rice buyer in 2021, with purchases of 2.45 million tonnes and a turnover of US$1.25 billion.

On regular, the cost of Vietnamese rice transported to the Philippines was US$509 for each ton, a 12 months-on-yr raise of 10.7% and a price tag raise of 7.1%.

Exports to the Philippines by yourself accounted for 38 % of the country’s complete once-a-year rice exports.

In the 1st quarter of 2022, the Philippines remained Vietnam’s premier purchaser of rice, accounting for 48% of the country’s overall rice exports of in excess of 672,000 tonnes at an typical of US$462.8 for every ton and a complete of US$311 million.

Moreover the Philippines, Malaysia, Singapore, Indonesia and Brunei are also the most important customers of Vietnamese rice amid ASEAN countries.

Phạm Thế Cường, Vietnam’s trade counselor in Indonesia, reported that Vietnamese rice is incredibly well known in traditional markets and supermarkets in Indonesia. Competition involving Vietnamese and Thai makes is fierce.

In 2020, Indonesia imported about the similar quantity from both of those international locations.

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Rice exports to Malaysia increased in January 2022. Vietnam exported approximately 35,000 tonnes of rice value US$16.07 million to Malaysia in January, a 104 percent increase in quantity and a 67.5 % increase in turnover as opposed with the exact time period very last year.

Vietnam’s rice exports to ASEAN international locations are primarily low-excellent rice.

The ministry explained it will be complicated to compete with economical models from India, Myanmar and Pakistan in the upcoming as Vietnam steadily shifts to creating increased-high quality rice, which now accounts for 80 per cent of the country’s total production.

As a final result, Vietnamese rice charges have been growing considering that 2020. Prices are envisioned to continue on their upward development as the country proceeds to emphasis on generating significant-good quality rice, in particular right after setting an export focus on of just beneath 4 million tonnes per annum by 2030.

To reach the earlier mentioned goals, marketplace specialists and policymakers named on rice producers to perform a comprehensive critique of key markets which include the ASEAN marketplace, the European Union and the United States to locate a stability among supply and desire of rice in Vietnam.

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