Illustrative image (Source: VNA) Statistics from the General Department of Vietnam Customsshowed that Vietnam enjoyed growth in rice exports in three consecutivemonths, with month-on-month rises of 19 percent in volume and 20.5 percent invalue recorded in September.
Compared to the same period last year, rice exports inSeptember rose 54.5 percent in volume to 593,624 tonnes with value of 293.15million USD.
In the January-September period, Vietnam shipped abroad 4.57million tonnes of rice, earning 2.42 billion USD, down 8.3 percent in volume and1.2 percent in value. However, the price of Vietnamese rice rose 7.8 percent inthe period.
Experts attributed the drops to impacts of COVID-19 to theharvesting and transport of rice in the Mekong Delta region – a major ricebowl of Vietnam. However, they predicted that rice sector will recover fastwhen the pandemic is controlled.
According to the Vietnam Food Association (VFA), Vietnam is anticipating a great chance to increase exports when a fall is forecast in other rice supplysources such as India and Thailand while the global demand is rising.
Securities firm Mirae Asset Vietnam held that the EU-VietnamFree Trade Agreement (EVFTA), which has become effective since August 2020, ishelping to boost Vietnamese rice exports to the European market.
At the same time, the US Department of Agriculture predictedthat global rice consumption in the 2021-2022 crop will rise 1.8 percent yearon year, which is coupled with a rise in rice prices.
Thanks to higher prices, Vietnamese rice exporters are expected to enjoy good growth in profits./.
VNA
