Farmers face difficult as rice exports drop off
Rice exports for September is estimated at about 650,000 tonnes,
bringing the third quarter's total to 1.84 million tonnes, 230,000
tonnes less than planned.
Rice exports for September is estimated at about 650,000 tonnes,
bringing the third quarter's total to 1.84 million tonnes, 230,000
tonnes less than planned.
A Vietnam Food Association (VFA) report says enterprises exported 620,532 tonnes of rice last month for a FOB (free-on-board) value of 264.34 million USD, a year-on-year fall of 32.55 percent in volume and 33.09 percent in value.
With supply outstripping demand, rice exporters have faced considerable difficulties this year.
Recently, the Thai Government decided to slash its rice prices to clear its stock, affecting the rice market in Asia and posing a greater challenge for local exporters.
China has continued to be the biggest importer of Vietnamese rice this year, but there has been a slowdown ahead of the harvest season.
Demand from Africa has been stable, but there will be more critical competition among rice exporters when the prices of Thai, Indian and Pakistani rice all reduce, shortening the price gap with Vietnamese rice.
The Philippines and Indonesia will look to import rice in the remaining months of the year, but there will be fierce competition among rice suppliers to meet this demand, VFA said.
The report said that as of August 31, Vietnam had exported 4.67 million tonnes of rice for a FOB value of 2 billion USD, a reduction of 7.86 percent in volume and 10.9 percent in value from the same period last year.-VNA
A Vietnam Food Association (VFA) report says enterprises exported 620,532 tonnes of rice last month for a FOB (free-on-board) value of 264.34 million USD, a year-on-year fall of 32.55 percent in volume and 33.09 percent in value.
With supply outstripping demand, rice exporters have faced considerable difficulties this year.
Recently, the Thai Government decided to slash its rice prices to clear its stock, affecting the rice market in Asia and posing a greater challenge for local exporters.
China has continued to be the biggest importer of Vietnamese rice this year, but there has been a slowdown ahead of the harvest season.
Demand from Africa has been stable, but there will be more critical competition among rice exporters when the prices of Thai, Indian and Pakistani rice all reduce, shortening the price gap with Vietnamese rice.
The Philippines and Indonesia will look to import rice in the remaining months of the year, but there will be fierce competition among rice suppliers to meet this demand, VFA said.
The report said that as of August 31, Vietnam had exported 4.67 million tonnes of rice for a FOB value of 2 billion USD, a reduction of 7.86 percent in volume and 10.9 percent in value from the same period last year.-VNA
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