Vietnam: Many huge rice export orders poured in, but the profit was not worth much

Published 2022년 3월 11일

Tridge summary

The rice export market is experiencing a favorable first half of the year due to increased global attention to food reserves caused by the Russia-Ukraine conflict and the exploitation of free trade agreement advantages by Vietnamese enterprises. However, rising costs are posing a challenge to rice companies, with high shipping freight and production costs cutting into profits and potentially reducing the competitiveness of Vietnamese rice in export markets. Experts suggest that rice exporters should consider delivery methods when negotiating prices to mitigate these costs.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Many exporters believe that the rice export market in the first two months of this year is more favorable compared to the same period last year due to the armed conflict between Russia and Ukraine, making people in many countries continue to pay more attention to food reserves. , Ho Chi Minh City Law Newspaper. Besides, Vietnamese enterprises continue to effectively exploit the advantages from the free trade agreement. At the same time, fragrant rice products that are exempt from tax of 30,000 tons also create an impetus for rice exports. Mr. Pham Thai Binh, General Director of Trung An High-Tech Agriculture Joint Stock Company, said that the company had recently exported more than 11,000 tons of rice to South Korea. In addition, the company also exports many consignments of fragrant rice to Europe and the Middle East. Similarly, Loc Troi Group exported more than 4,500 tons of rice worth more than 3 million USD earlier this year. Including fragrant rice, white rice, brown rice and ...

Source: Vietnambiz