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Vietnam’s rice exports drop in Q1

Vietnam exported an estimated 1.28 million tonnes of rice in the first three months of the year, earning 570 million USD, down 18 percent in volume and 17.3 percent in value compared to the same period last year.
Vietnam’s rice exports drop in Q1 ảnh 1Illustrative photo (Photo: tienphong.vn)
 

Hanoi (VNA) - Vietnam exported an estimated 1.28 million tonnes ofrice in the first three months of the year, earning 570 million USD, down 18percent in volume and 17.3 percent in value compared to the same period lastyear.


The figures were released last week by the Ministry of Agriculture and RuralDevelopment.

China remains Vietnam’s largest rice importer, with a market share of 36 percent,followed by the Philippines with nearly 25 percent market share.

The export drops were strongest in Ghana, Hong Kong and Malaysia.

Currently, the price of Vietnam’s 5-percent broken rice ranges from 350 USD to 355USD per tonne, down 5 USD against last week (according to FOB prices at SaigonPort). This decreasing price is due to a larger winter-spring crop.

At the beginning of this year, the Ministry of Industry and Trade repealedregulations limiting rice exporters because they were considered detrimental tothe growth of the rice export sector.

The ministry expects to create a healthy market for enterprises investing inrice production and trade, and to ease farmers’ difficulties by boostinghigh-quality rice exports.-VNA

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