According to the Agricultural Products Processing and Market Development Department under the Ministry of Agriculture and Rural Development, Vietnam exported 5.35 million tonnes of rice in 11 months of 2020 at a total value of US$2.64 billion. The average export price reached US$494 per tonne, up 13% over the same period last year.

The export price of Vietnamese rice has increased by US$20-30 per tonne in November compared to last month.

The rice price increase was due to the increasing demand on rice reserves of the importing countries because of the ongoing complicated developments of the Covid-19 pandemic. Meanwhile, the rice production in some rice exporting countries such as Thailand has decreased due of the impact of climate change.

Director of the Institute of Policy and Strategy for Agriculture and Rural Development Tran Cong Thang said that figures show that Vietnamese rice has seen a positive change in price and added value with its increasing quality gaining recognition from the world.

“During the time when Vietnam and other countries are being affected by Covid-19, many Vietnamese agricultural products have suffered declines in terms of the market. However, rice is one of the bright spots, especially when the export price of Vietnamese rice is relatively high in addition to the slight price increases in the domestic market, which are some good signs,” Thang noted.

However, Director of the Agricultural Products Processing and Market Development Department Nguyen Quoc Toan said that despite the positive signals Vietnam should not be subjective, and the rice cultivation should follow sustainable standards to ensure the stable consumption and export of rice.

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Source: NDO