Rice exports fell in both volume and value terms in the first half of this year, the Vietnam Food Association has said.
Exporters shipped 3.4 million tonnes for a free-on-board (FOB) value of1.5 billion USD, a reduction of 15.1 percent in value and 12.7 percentin quantity.
Speaking at a meeting held in Ho Chi MinhCityon July 5 to review rice exports in the first half and draw up plansfor the second, Pham Van Bay, the VFA's deputy chairman, said theaverage price was 458.9 USD per tonne, a year-on-year decrease of 13.03USD.
China was the largest buyer, followed by Africa and the Philippines , he said.
High-grade rice accounted for nearly half of the shipments – a 52.6percent increase – as Vietnam took advantage of the higher prices ofThai rice to boost its own exports, he said.
India 'sresumption of export and the entry of Myanmar into the low-gradevariety market shrunk the market share of Vietnamese low-grade rice,since they both offered low prices.
VFA chairman TruongThanh Phong said since export of low-grade rice is set to become harder,authorities should persuade farmers to reduce cropping of thesevarieties.
Bay said both the Food and AgricultureOrganisation and the US Department of Agriculture have forecast globaloutput to outstrip demand this year.
"With the fierce competition that will bring, prices are unlikely to harden during the rest of the year," he said.
India will continue to sell at low prices to reduce its large stockpile, he said.
Because of its higher prices, Thailand has accumulated a largeinventory, and there will be pressure on the country to liquidate it, hesaid.
Deputy Minister of Industry and Trade Nguyen ThanhBien said if Thailand slashes prices to boost exports, it will be abig hurdle for Vietnam 's rice exports.
He urged the association to keep a close eye on global developments and its members informed.
He urged exporters to promote the Vietnamese rice brand in the global market.
Delegates at the meeting agreed that China will continue to be akey export market for the rest of this year, but warned that there willbe payment risks attached to that market.
They hailed the setting up of a trade promotion centre in China , saying it will help resolve issues related to export.
The Republic of Korea and Japan are promising markets forVietnamese rice said, Le Tuan, director of the Vinh Long Import-ExportJoint Stock Company.
But they set the quality bar very high, he said.
So, to find new markets for Vietnamese rice, enterprises should workwith farmers to produce rice that meet the two nations requirements, headded.
Vietnam targets exports of 2.3 million tonnes in the third quarter, including 800,000 tonnes this month.-VNA
Exporters shipped 3.4 million tonnes for a free-on-board (FOB) value of1.5 billion USD, a reduction of 15.1 percent in value and 12.7 percentin quantity.
Speaking at a meeting held in Ho Chi MinhCityon July 5 to review rice exports in the first half and draw up plansfor the second, Pham Van Bay, the VFA's deputy chairman, said theaverage price was 458.9 USD per tonne, a year-on-year decrease of 13.03USD.
China was the largest buyer, followed by Africa and the Philippines , he said.
High-grade rice accounted for nearly half of the shipments – a 52.6percent increase – as Vietnam took advantage of the higher prices ofThai rice to boost its own exports, he said.
India 'sresumption of export and the entry of Myanmar into the low-gradevariety market shrunk the market share of Vietnamese low-grade rice,since they both offered low prices.
VFA chairman TruongThanh Phong said since export of low-grade rice is set to become harder,authorities should persuade farmers to reduce cropping of thesevarieties.
Bay said both the Food and AgricultureOrganisation and the US Department of Agriculture have forecast globaloutput to outstrip demand this year.
"With the fierce competition that will bring, prices are unlikely to harden during the rest of the year," he said.
India will continue to sell at low prices to reduce its large stockpile, he said.
Because of its higher prices, Thailand has accumulated a largeinventory, and there will be pressure on the country to liquidate it, hesaid.
Deputy Minister of Industry and Trade Nguyen ThanhBien said if Thailand slashes prices to boost exports, it will be abig hurdle for Vietnam 's rice exports.
He urged the association to keep a close eye on global developments and its members informed.
He urged exporters to promote the Vietnamese rice brand in the global market.
Delegates at the meeting agreed that China will continue to be akey export market for the rest of this year, but warned that there willbe payment risks attached to that market.
They hailed the setting up of a trade promotion centre in China , saying it will help resolve issues related to export.
The Republic of Korea and Japan are promising markets forVietnamese rice said, Le Tuan, director of the Vinh Long Import-ExportJoint Stock Company.
But they set the quality bar very high, he said.
So, to find new markets for Vietnamese rice, enterprises should workwith farmers to produce rice that meet the two nations requirements, headded.
Vietnam targets exports of 2.3 million tonnes in the third quarter, including 800,000 tonnes this month.-VNA
