Business

Positive signs promise good year for rice export

Many rice export contracts continuing from 2017 and Indonesia’s import order at the year’s beginning amid limited rice supply are positive signs for Vietnam’s rice exports.
Positive signs promise good year for rice export ảnh 1Rice bags are loaded onto a barge for shipment (Photo: VNA)

HCM City (VNA) – Many rice export contracts continuingfrom 2017 and Indonesia’s import order at the year’s beginning amid limitedrice supply are positive signs for Vietnam’s rice exports.

According to the Vietnam Food Association (VFA),more than 5.7 million tonnes of rice was shipped abroad in 2017, surpassinglast year’s target. There remain some 630,000 tonnes of rice under contractssigned last year to be shipped in 2018.

While the remaining unsold rice volume is small,about 100,000 tonnes, the winter-spring harvest season has yet to reach itspeak, leading to limited domestic supply. This is a reason behind Vietnam’s bidto sell only 141,000 tonnes of rice to Indonesia recently.

Nguyen Ngoc Nam, Acting Director General of theVietnam Southern Food Corporation (Vinafood 2) – one of the two Vietnamesefirms winning the bid for rice export to Indonesia this time, said at theoutset of 2018, Indonesia suddenly invited tenders for 500,000 tonnes of riceand requested rice be delivered in February.

Eight companies from Vietnam, Thailand, Indiaand Pakistan won rice supply bids but with small volumes, 346,000 tonnes intotal. This result showed the unsold inventory of some rice exporting countriesis not abundant, he added.

[Video: Vietnam’s rice export to enjoy prosperous year in 2018]

Global rice demand is forecast to soar in 2018,and China will remain the biggest rice importer. While Indonesia resumed rice importsafter a two-year halt, the Philippines is also predicted to buy more rice. Theserosy signs are expected to give a boost to rice exporters, including Vietnam,according to the VFA.

The US Department of Agriculture forecastVietnam’s rice export volume will rise by 400,000 tonnes from 2017 to more than6 million tonnes this year, mainly thanks to higher demand in Southeast Asia.

In January, the country shipped 524,000 tonnesof rice worth 249 million USD abroad, up 56.5 percent in volume and 74.2 percentin value from a year earlier, the Ministry of Agriculture and Rural Developmentreported.-VNA
VNA
#rice export contracts #rice supply #Vientam's rice export #Vietnam Food Association #Vietnam Southern Food Corporation #Vinafood 2 #rice exporters #updated Vietnam news #Vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

Vietnam’s rice market fares well

Vietnam’s rice market fares well

Vietnam shipped abroad nearly 5.2 million tonnes of rice worth over 2.27 billion USD in the first 11 months of this year, surpassing the figure of the entire 2016 at 4.9 million tonnes.
Rice exports beat low expectations in 2017

Rice exports beat low expectations in 2017

Contrary to pessimistic forecasts earlier in 2017, after a drop in 2016, the country’s rice exports had a successful year in 2017, with some higher-than-expected figures.

See more

A road in Ho Chi Minh City. (Photo: VNA)

Ho Chi Minh City to integrate IoT into smart transport infrastructure

To promote IoT application in smart transport, the Ho Chi Minh City People's Committee Chairman has assigned the Department of Construction to lead the deployment of IoT in the construction, management, operation and maintenance of transport infrastructure. The department will also review and propose integrating IoT sensors and smart monitoring devices into transport construction, renovation and upgrading projects across the city.

Online promotion of lychee and other key agricultural and OCOP products from Bac Ninh province. (Photo: VNA)

Vietnam tightening e-commerce management

Amid the rapid expansion of online commerce, closely linked to consumption, exports, logistics, electronic payments and the digital economy, the legislation is expected to shape the sector’s sustainable future while ensuring a balance between State management, consumer rights and business interests.

At the 19th Ho Chi Minh City International Travel Expo (ITE HCMC 2025) (Photo: VNA)

ITE HCMC 2026 to connect Vietnam's tourism with the world

From its early editions in 2005-2010, which attracted around 210 exhibitors and 120 international buyers from 18 countries, ITE HCMC has grown significantly. This year's event is expected to feature more than 520 exhibitors and brands, 260 international buyers from over 40 countries and territories, and more than 21,000 pre-arranged B2B appointments.

Checking tickets before passengers board the train at Hai Phong Station. (Photo: VNA)

Vietnam-China rail link prioritised to boost trade

The Ministry of Construction said it has tasked the Vietnam Railway Authority with working alongside relevant Chinese agencies to develop detailed plans for the Hai Phong–Ha Long–Mong Cai railway, which is slated for completion in 2026.

Australian Treasurer Jim Chalmers (right) and Vietnamese Minister of Finance Ngo Van Tuan at their meeting in Sydney on August 11 (Photo: Ministry of Finance)

Vietnam, Australia strengthen all-round financial cooperation

Minister of Finance Ngo Van Tuan called on the Australian Government to continue providing official development assistance (ODA), particularly for climate-resilient infrastructure projects, share experience, and provide technical assistance in public financial management reforms.

Delegates press the button to launch the project. (Photo: VNA)

Ca Mau launches 96 million USD wind power project

The project which has a designed capacity of 50MW, will cover around 600ha of sea and land areas, with total investment estimated at 2.5 trillion VND (96 million USD). It comprises a 13km 110kV transmission line, a 63MVA step-up substation, medium-voltage underground cable systems, and wind turbines and their foundations.

A Vietnam Airlines aircraft. (Photo: VNA)

Vietnam Airlines marks 35,000th flight to Australia

Over 35 years of operations, Vietnam Airlines has operated 35,000 flights and carried 7.5 million passengers between Vietnam and Australia, reflecting steady market growth and rising demand for connectivity between the two countries.

A view of the press conference. (Photo: VNA)

2026 Banking Sector Digital Transformation to open in Hanoi

The annual event, which will be held on August 18-19, 2026, at the ICE International Exhibition Centre, 91 Tran Hung Dao Street, Hanoi, is expected to attract around 324 delegates and feature 21 booths representing credit institutions, payment intermediary service providers, and technology companies.

SME products livestreamed on the digital platform of Ca Mau Radio and Television Station.( Photo: VNA)

Digital transformation key to unlocking SME growth in Vietnam

Science, technology, innovation and digital transformation have become strategic imperatives directly linked to labour productivity, competitiveness, growth quality and the economy's self-reliance, with sci-tech application and innovation by small and medium-sized enterprises (SMEs) playing an important role.

New Zealand apples on sale at a supermarket in Vietnam (Photo: VNA)

Vietnamese consumers develop taste for Australian, New Zealand fruit

According to statistics from the Department of Customs, in the first six months of 2026, Vietnam imported 102.8 million USD worth of fruit, vegetables and flowers from Australia, up 55.7% from the same period last year. Australia's share of total imports rose from 5.5% to 6.51%, highlighting the growing position of the market as a supplier. Imports from New Zealand reached 78.04 million USD, up 20.4% year-on-year.

Semiconductor products, chips and components displayed at a ceremony to launch a national centre for semiconductor chip pilot production support in Hanoi on June 26. (Photo: VNA)

US semiconductor push offers Vietnam opportunities, policy challenges

The Vietnam-US semiconductor partnership is therefore not simply a “golden opportunity” arising from geopolitical shifts, but also a long-term test of Vietnam’s institutional reform and implementation capacity. If domestic capacity cannot keep pace, adjusting targets toward quality and execution, rather than simply expanding the number of projects, will be essential.

Workers process fruit for export at the Chanh Thu factory in Cho Lach commune, Vinh Long province. (Photo: VNA)

Vietnam works to maintain edge in key agricultural market

According to Le Hang, Deputy Secretary-General of the Vietnam Association of Seafood Exporters and Producers (VASEP), China and Hong Kong (China) remained bright spots for Vietnam’s aquatic exports in July, with revenue exceeding 267 million USD, up 24.7% year-on-year.