Việt Nam rice exports face uncertain Q1
Thursday, April 26,2018AsemconnectVietnam - Viet Nam’s rice exports faced an unpredictable first quarter this year, increasing in January, declining in February and recovering in March, according to the Ministry of Agriculture and Rural Development.
The country’s overall rice exports in the first quarter of this year increased by 15.5 per cent compared to the same period in 2017. The average rice export price in the first quarter of the current year rose by 14.2 per cent year-on-year to $501 per tonne, reported cafef.vn.
The rice export price was higher against most export markets during the same period last year, with the highest price reaching $834.5 per tonne for rice exported to Chile, a year-on-year increase of 114 per cent. However, rice exports to this market fell sharply by 95 per cent in volume and 90 per cent in year-on-year value.
China has remained the largest export market for Vietnamese rice, accounting for 27.7 per cent of total volume during the first quarter of the current year.
Viet Nam’s rice exports to Bangladesh increased 89 times in volume and 59 times in value. A similar but smaller-scale trend occurred in rice exports to Turkey, Iraq, Malaysia and France.
According to experts, Viet Nam will have greater opportunities when the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) comes into effect, helping rice exporters increase exports to countries that joined the agreement and demand high quality and food safety standards, such as Japan, Australia and New Zealand.
Viet Nam’s structure for exporting rice products has shifted to reducing middle and lower quality rice products while increasing high quality rice products annually.
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