The prices of Vietnamese rice increased strongly in many foreign markets in the first half of this year, according to statistics from the General Department of Vietnam Customs.
Hanoi (VNA) – The prices of Vietnamese rice increased s𒅌trongly in many foreign markets in the first half of this year, according to statistics from the General Department of Vietnam Customs.
The average rice export price went up by over 18% over the same period last year. The grain was sold at 959 USD per tonne in Brunei, 868 USD in the US, 857 USD in the Netherlands, 847 USD in Ukraine, 836 USD in Iraq, and 831 USD in Turkey.
Most notably, in the first quarter, Vietnam's rice exports to France increased dramatically to 18,200 tonnes worth 19.1 million USD.
During the period, Vietnam shipped 46,000 tonnes to the European Union (EU), earning 41.4 million USD, an increase of nearly 118% over the same period last year.
The Vietnam Trade Office in the EU said Vietnam's specialty fragrant rice varieties such as ST25, ST24, Nang Hoa, and OM are favoured in the market thanks to their standout quality, leading to their high prices there.
In the first three months of this year, Vietnam also exported up to 135,300 tonnes of rice to the American market, with a turnover of 94.5 million USD, up 299% year-on-year.
In the first half, Vietnam's rice exports reached 4.7 million tonnes, a rise of 10.4% year-over-year, and its export turnover reached nearly 3 billion USD, up 32%./.
The prices of Vietnamese rice in the international market rose by 3-8 USD per tonne last week, helping Vietnam return to the top position in export rice prices, according to the Vietnam Food Association (VFA).
Vietnam’s rice output is expected to reach 43 million tonnes in 2024, which is able to ensure domestic consumption and export demand of more than 8 million tonnes, according to the Ministry of Agriculture and Rural Development.
Vietnam’s rice export has been shifting significantly toward high-quality and speciality products rather than quantity, with an annual stable turnover from 6.2 to 6.3 million tonnes in 2019-23, chairman of Vietnam Food Association Nguyen Ngoc Nam said at the Rice News Convention in the central city on March 6.
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