Vietnam: Rice exports decrease due to excessive redirection?

Published 2021년 5월 17일

Tridge summary

In April, Vietnam's rice exports experienced a significant increase of 31.7%, reaching 700,000 tons and generating $362 million in revenue, primarily due to a suspension of exports last year. Despite this, the total rice exports in the first four months of the year saw a decrease of 10.8%, with a value of $1.01 billion, as the average export price of rice fell by 6.2% to $518 per ton. This decline is largely attributed to a decrease in white rice exports to the Asian market, with the export of higher-priced fragrant and sticky rice increasing. However, the shift to higher-priced rice varieties has led to a surplus, and the export of sticky rice to China needs to be reconsidered. Additionally, the export prices of sticky and fragrant rice in Vietnam are lower than international standards, indicating room for improvement. The article highlights the need for strategic adjustments in rice export strategies to meet market demands and improve export values.

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

Original content

According to the General Statistics Office, the amount of rice exported in April reached 700,000 tons, up 31.7% over the same period, with a turnover of 362 million USD and up 36.6%. Accumulated four months of rice exports reached 1.89 million tons, down 10.8% over the same period, export turnover was $1.01 billion and down 1.2%. The average export price of rice in April was only $518/ton, down 6.2% from the record of $552/ton in January and only up 3.8% over the same period. The reason that rice exports in April accelerated over the same period last year was because this time last year, the export was temporarily suspended. However, that sudden increase was not enough to "save" export volume in the first four months of the year, which is most likely due to the shift to production and export of fragrant rice and sticky rice for high value. than white rice, although it is the right direction, it seems to have been a bit overdone. Statistics of the US Department of Agriculture ...

Source: Vietstock