Vietnam: Rice exports shift towards reducing quantity and increasing quality

Published 2021년 7월 20일

Tridge summary

Vietnam's rice exports in June decreased by 30.4% from the previous month and 3.1% from June 2020, totaling 436.1 thousand tons. From January to June, exports reached 3.02 million tons, valued at 1.6 billion USD, marking a 14% decrease in volume and a 4% decrease in value year-over-year. Despite the decline, Vietnam remains the world's second-largest rice exporter. The country has seen a shift towards high-value-added rice, with fragrant rice exports increasing by 6.2% in the first half of 2021. However, the decline in other rice commodities, especially white rice, has offset this increase. Exports to the Philippines and Malaysia have decreased, while exports to China and other countries have increased due to domestic supply issues. The US Department of Agriculture has lowered its forecast for Vietnam's rice exports in 2021 to 6.1 million tons, citing uncompetitive prices, and increased its forecast for imports to 800,000 tons.

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Original content

According to data from the General Department of Customs, Vietnam's rice exports in June reached 436.1 thousand tons, down 30.4% over the previous month and down 3.1% compared to June 2020. Generally, in the first 6 months of the year, our country's rice exports reached 3.02 million tons, worth 1.6 billion USD, down 14% in volume and 4% in value over the same period last year. Despite the decrease, Vietnam still ranks second in global rice exports because Thailand - the world's third largest rice exporter only exported 2.2 million tons of rice with a value of 1.38 billion USD in the first half. this year, down 21% in volume and 28.1% in value over the same period in 2020. According to President of the Thai Rice Exporters Association (TREA) Charoen Laothammathat, compared to the target set for the whole year. 2021 is 6 million tons with a value of 5 billion USD, Thailand can only export 5.7 million tons of rice this year. The strengthening Thai baht and drought have made Thai rice ...

Source: Vietnambiz