According to the agriculture ministry’s market development department, the outlook for the rice sector is quite positive for the second half of 2023 as rice output in many countries in Asia face the risk of falling due to El Nino, which will increase rice demand and prices on the international market.

Vietnam's rice export outlook is positive in the second half of 2023.

The department said Vietnam exported 4.27 million tonnes of rice worth 2.3 billion in the first six months of 2023, up 22.2% in volume and 34.7% in value.

The average price during the period was 539 USD per tonne, up 10.2% from a year ago.

The Philippines is currently Vietnam’s largest rice importer while exports of the grain to China have also witnessed sizeable growth since their opening after the Covid-19 pandemic, according to Bui Thi Thanh Tam from the Vietnam Food Association.

Indonesia has also resumed importing rice, helping Vietnam’s rice exports to the Southeast Asian country soar by 1.498%.

The outlook for the second half is positive as major rice importers such as China, the Philippines and Malaysia are still buying large quantities. Indonesia is planning to launch a call for bids for a supply of 300,000 tonnes in the next few days and more calls are expected in the coming months.

The demand for rice could witness a slight rise due to the limited supply of other grains, while demanding markets such as Europe, Australia and the Republic of Korea are creating an opportunity for Vietnam’s high-quality rice.

Positive outlook for Vietnam’s rice exports

Vietnam’s rice exports witnessed decent growth in the first five months of 2023 in both established and new markets. It is forecast that rice export will continue growing in the coming months thanks to strong demand while global inventories have fallen to record lows.

Phuc Hoa early ripening lychees enjoy high selling price

(BGO) – According to Chairman of Phuc Hoa commune People’s Committee in Tan Yen district (Bac Giang province) Ngo Van Tiep, some lychee gardens in the commune now can be harvested. Thanks to early ripening time and good quality, Phuc Hoa lychee has been ordered by many traders and customers.

Rice exports surge 54.5% in first four months

Vietnam earned 1.56 billion USD from shipping 2.95 million tonnes of rice abroad in the first four months of this year, increases of 54.5% and 43.6%, respectively, year-on-year.

Stable price of star apple fruit benefits farmers in Hop Duc commune

(BGO) – Recently, farmers in Hop Duc commune, Tan Yen district (Bac Giang province) has harvested star apple fruits. With stable selling price of 30,000 VND (1.28 USD) per kg, the growers can earn over 300 million VND per hectare.

Vietnam exports more than 1.85 million tonnes of rice in Q1

Vietnam exported more than 1.85 million tonnes of rice, worth 981.4 million USD, in the first quarter of this year, up 23.4% in quantity and 34.3% in value year on year.

Rice export prices on the rise

Vietnam’s rice export prices grew 9.2% year on year to $532 per tonne in the first quarter of 2023, said the General Department of Vietnam Customs.

Source: NDO