The world buys a lot, but Vietnamese rice benefits little

Published Mar 11, 2022

Tridge summary

Vietnam has experienced a significant increase in rice exports in the first two months of 2022, with a 39% rise in volume and a 22% increase in value compared to the same period last year. This surge is attributed to the armed conflict between Russia and Ukraine, which has heightened global awareness of food reserves, the recovery of rice import markets, and the exploitation of free trade agreement advantages by Vietnam to export to the EU. However, rising transportation costs and high production inputs are posing a threat to the profitability of rice exports. Experts recommend that exporters should consider delivery methods to minimize logistics costs and ensure competitiveness in the market.

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

Original content

Vietnam's rice exports in the first months of 2022 increased sharply in volume and value over the same period last year. Although orders increase, prices are good, but transportation costs, loading and unloading ... increase, causing exporters to earn little profit. Countries increase purchases of Vietnamese rice Many exporters believe that the rice export market in the first two months of this year is more favorable than the same period last year. The reason: The armed conflict between Russia and Ukraine makes people in many countries continue to pay more attention to food reserves. Besides, many rice import markets have recovered, and many supply chains that were once broken are being reconnected. In particular, Vietnam continues to effectively exploit the advantages from the free trade agreement to boost rice exports to the EU. The quality of Vietnamese rice has changed in the eyes of importers, plus fragrant rice is exempt from tax of 30,000 tons, creating better competitive ...

Source: Vietstock