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Export prices of Vietnamese rice up nearly 10%

Updated: 23:34, 06/03/2023
The export prices of Vietnamese rice in the first two months of 2022 rose by 9.8% year-on-year to 528.5 USD/tonne, according to the Ministry of Agriculture and Rural Development (MARD).

Vietnam exported 789,000 tonnes of the grain in the reviewed period, earning 417 million USD, down 18.8% in volume and 10.8% in value compared to the same period last year.

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The Philippines is the largest importer of the food from Vietnam in January with over 129,000 tonnes worth 64.55 million USD, accounting for 34.6% of Vietnam’s total export.

Vietnam recorded the highest increase price for rice exported to Taiwan (China) in January, with a surge of 54.6% year-on-year.

It is forecast to have favourable conditions for rice exports in 2023 as many countries such as the US and China, and those in Europe, are being affected by climate change and drought, which cause a shortage of rice supply.

Moreover, India - one of the largest rice exporters in the world, imposes a ban on broken rice exports and a 20-percent tax rate on white rice varieties.

Vietnam aims to export between 6.5 – 7 million tonnes of rice in 2023.

Its export is predicted to increase again as the demand in traditional markets such as Indonesia and Bangladesh has risen, and China – one of the largest importers of Vietnamese farm produce, has opened the market after the Covid-19 pandemic.

Vietnamese agricultural products enjoy bustling export to China
The reopening of China’s border on January 8 is of significance to Vietnamese exporters, as Vietnamese agricultural products have posted bustling export to this billion-people market.
Removing import-export challenges
(BGO) – Bac Ninh Customs Department (BNCD) currently conducts state management over customs in three provinces of Bac Ninh, Bac Giang and Thai Nguyen. To grasp the specific export-import, the BNCD official visited the businesses to discuss and share the difficulties with them.
Various solutions applied to boost export turnover in Bac Giang
(BGO) – Bac Giang province targets to earn over 27 billion USD of export turnover in 2023, increasing 19 percent year on year.
Expectations for fruit and vegetable export growth
Fruits and vegetables are one of seven categories of agricultural products with export turnover of more than 3 billion USD in 2022. It is forecast that fruits and vegetables will continue to enjoy many export advantages in 2023, with export turnover expected to exceed the 3.34 billion USD recorded in 2022 to reach 4 billion USD this year.
Vietnam urged to ensure exports to Asian, African markets in 2023
Vietnamese exporters need to ensure their capacity and maintain existing export markets, typically Asian and African outlets, amid many challenges in 2023, a senior trade official has said.

Source: VNA

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