Statistics recently released by the General Department of Vietnam Customs indicate that rice exports in the first two months of the year reached 711,759 tons, worth a total of US$311.59 million. This figure represents a drop of 14.4 per cent in volume and 23.6 per cent in value on-year.

Meanwhile, the price of rice exports in February posted US$424.4 per ton, falling by 4.9 per cent on-month and 14.6 per cent on year. The average price stood at only

US$437.8 per ton during the two-month period, plunging by 10.8 per cent on year.

The Philippines was the largest importer of Vietnamese rice products as they purchased 314,851 tons of Vietnamese rice, totaling US$125.32 million in value. These figures see respective hikes of 80.9 per cent in volume and 60.6 per cent in value on year.

Other major rice importers include the Ivory Coast, Malaysia, Hong Kong (China), China, Ghana, Singapore, Angola, and the Netherlands. 

As noted, rice exports to Angola hit a peak of 1,359 tons in the two-month period, soaring by 18.9 times in volume on-year.

Meanwhile, rice shipments to Indonesia, China, Bangladesh, and Turkey showed a slowing trend with a plunge ranging from 94 - 98 per cent in both volume and value over the reviewed period.

Vietnam’s rice products have so far penetrated 150 countries and territories around the world, including demanding ones such as the Republic of Korea, Japan, the US, and the EU.