Business

Rice exports up but prices down in seven months

Vietnam exported roughly 4.08 million tonnes of rice in the first seven months of 2022 to earn over 1.99 billion USD, up 17.3% and 6%, respectively, against the same period last year, customs data shows.
Rice exports up but prices down in seven months ảnh 1Despite a hike on export turnover, the average export price drops 9.6% in the first seven months of 2022. Illustration. (Photo: VNA)
Hanoi (VNA) – Vietnam exported roughly 4.08million tonnes of rice in the first seven months of 2022 to earn over 1.99billion USD, up 17.3% and 6%, respectively, against the same period last year,customs data shows.

Despite a hike on export turnover, the average export pricedropped 9.6% during the period to 488.9 USD per tonne. It is likely that riceprices will not increase in the coming time as a result of low demand andabundant supply from major exporters.

Generally, the market is currently weak, with low purchasingpower, said Nguyen Van Don, Director of Viet Hung Co., Ltd, a food exporterbased in the Mekong Delta province of Tien Giang. Since the start of this year,Vietnam mostly exported to the Philippines while shipments to China declinedsignificantly.

Exports to other markets, though stable, remained small, hecontinued, so the rice market will probably stay stagnant until the end of thesummer-fall crop.

Inventory of importers are rising so it is unlikely thatprices would improve, said Do Ha Nam, Vice President of the Vietnam FoodAssociation (VFA). Meanwhile, bumper harvest is forcing exporters to boostsales, he added.

According to VFA, 5% broken rice fetched 393 USDper tonne and the 25% broken rice, 378 USD per tonne on August 17. The priceswere lower than those of Thailand, but higher than India’s and Pakistan’s.

The Philippines was biggest buyer of Vietnam's rice, accounting for48.6% of total export volume and 46.6% of total value in the seven-month period. It imported 1.98 milliontonnes of rice, worth nearly 924.9 million USD, from Vietnam, up 67% and 40%,respectively, year-on-year.

It was followed by China that made up over 11.4% of the totalvolume and 12.2% of the total revenue. Exports to the neighbouring country slid28% year-on-year in both volume and value.

Nam anticipated that Vietnam will ship abroad some 2 milliontonnes of rice in the remaining months to raise total export volume of theentire year to over 6 million tonnes, worth about 3 billion USD./.

VNA
#rice exports #export price #abundant supply #low demand #rising inventory #Vietnam #Vietnam News #Vietnam Plus #Vietnam News Agency
Follow VietnamPlus

Related News

Vietnam’s rice export turnover up 10.5 percent in Q1

Vietnam’s rice export turnover up 10.5 percent in Q1

Vietnam exported 1.14 million tonnes of rice worth 715 million USD in the first quarter of 2022, up 24 percent in volume and 10.5 percent in value year-on-year, according to the Ministry of Agriculture and Rural Development.
Vietnam aims to boost rice export to ASEAN

Vietnam aims to boost rice export to ASEAN

The Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade (MoIT) will coordinate with Vietnam’s trade offices in member countries of the Association of Southeast Asian Nations (ASEAN) to organise a consulting session on rice exports.
Vietnamese rice access choosy markets

Vietnamese rice access choosy markets

Vietnam has become one of the leading rice producing and exporting countries in the world. However, this item is usually imported raw, then distributed under the brand of the importers. Some domestic agricultural enterprises have pooled resources to build high-quality rice production chain, successfully penetrating choosing markets, and helping leverage the prestige of Vietnamese rice on the global market.

See more

An electric vehicle charging station in Hanoi. (Photo: VNA)

Automakers race toward fierce competition as sector shifts gears

According to the latest figures from the Department of Customs, Vietnam imported 16,343 cars in October. Although this represents a 5.5% drop from the previous month, total imports over the first ten months reached 171,364 units, up 20% year on year. Import turnover neared 4 billion USD, the highest level in the past three years.

The year 2025 has seen the coffee industry form an ecosystem of responsible production, stretching from raw-material regions to processing stages, helping lay the foundation for sustainable growth in the years ahead. (Photo: VNA)

Coffee exports likely to exceed 8 billion USD this year

The Ministry of Agriculture and Environment reported that Vietnam sold 1.3 million tonnes of coffee overseas for 7.41 billion USD between January and October, up 61.8% year-on-year and marking the highest annual value increase to date. The average export price reached 5,653 USD per tonne, a surge of 42.5% from the same period last year. Several markets posted outstanding growth, particularly Mexico, where export value jumped by 34.7 times.

Aero K operates the Cheongju (CJJ) - Cam Ranh (CXR) route from November 2025 (Photo: VOV)

Another Korean airline opens direct route to Nha Trang

Aero K said that Nha Trang is its second destination in Vietnam after central Da Nang city. The airline has been steadily expanding routes to Japan, Taiwan (China), and Southeast Asian countries, increasing its international flights for the RoK’s central region.

Ambassador Nguyen Minh Nguyet (second from left) and representatives of associations and diplomatic corps in Sofia. (Photo: published VNA)

Vietnamese companies join Interfood & Drink 2025 in Bulgaria

The Vietnamese booth features a range of signature products including coffee, tea, fruit juices, traditional confectionery and natural functional foods that match the growing demand in Southeast Europe for healthy, natural and traceable products.

Minister Counsellor Pham Quang Huy, Deputy Head of Vietnam’s Permanent Mission to Geneva (R) and Andrey Eydlin of the St. Gallen Endowment, at the working session (Photo: VNA)

Swiss endowment supports Vietnam in trade defence capacity building

Minister Counsellor Pham Quang Huy, Deputy Head of Vietnam’s Permanent Mission to Geneva, has chaired a working session on the Global Trade Alert (GTA) tool with representatives from the Trade Remedies Authority of Vietnam (TRAV) under the Ministry of Industry and Trade and Andrey Eydlin of the St. Gallen Endowment.

Participants at the forum. (Photo: VNA)

Vietnam moves to tap “silver economy” as ageing accelerates

At a national forum on the silver economy in Vietnam on November 14, Politburo member and Director of the Ho Chi Minh National Academy of Politics Nguyen Xuan Thang said the country must shift from viewing ageing as a welfare burden to recognising older people as an economic asset.

Participants at the official technical negotiation session between Vietnam and US (Photo: VNA)

Vietnam, US conclude 5th round of reciprocal trade agreement talks

In the closing session, representatives from the Office of the US Trade Representative (USTR) and the Vietnamese negotiating team stated that the talks yielded positive results, laying a favourable foundation for the early conclusion of the Vietnam – US Reciprocal Trade Agreement.

At a ceremony to announce the cooperation agreement between VIPTAM Group, Inlog and partners (Photo: VNA)

New social-commerce model targets 50 billion USD in Vietnam–US trade

VIPTAM Technology Group JSC (VIPTAM Group) has officially established long-term strategic trade partnerships with major international brands, introducing a new model to promote bilateral trade between Vietnam and the US through VDONE Network, a multimedia social platform developed by the group.

Seafood section with a wide range of products. (Illustrative photo: VNA)

Processed seafood industry seeks stronger foothold in domestic market

As seafood exports face growing challenges from the global economic slowdown, technical barriers in importing markets, and rising input costs, developing the domestic market is increasingly seen as a strategic direction to stabilise production, maintain supply chains, and reduce dependence on external markets.

Party General Secretary To Lam (R) receives China’s Luxshare-ICT Group Vice Chairman Wang Laisheng in Hanoi on November 15. (Photo: VNA)

Party Chief receives Vice Chairman of China’s Luxshare-ICT Group

Party General Secretary To Lam affirmed that the Party and State consistently welcome foreign enterprises to invest and succeed in Vietnam, pledging equal treatment for all investors and continued efforts to improve the business environment towards greater fairness, transparency and convenience.