The Philippines, China, Indonesia, and Taiwan increased their imports of Vietnamese rice, in which markets nearly tripled over the same period.
A report by the Vietnam Agricultural Product Processing and Market Development Department shows that the export volume of rice in the first 5 months of 2020 reached 2.9 million tons and 1.41 billion USD, up 5.1% in volume and increased by 18.9% in value over the same period in 2019.
For the first four months of 2020, the Philippines is Vietnam’s leading rice export market, accounting for 40.5% with 902,100 tons and, worth US$401.3 million, up 11.4% in volume and 26. % in value over the same period in 2019. There are also other markets with strong growth, including China and Indonesia (up 2.7 times), Taiwan (up 67.9%) and Gana (up 39.3 times). %).
The average export price of rice in the first 4 months of 2020 reached $470.2 a ton, up 10% over the same period in 2019. Particularly, Vietnam’s 5% broken rice exports rose to a high of 450. –460 USD a ton.
In the world market, the price of Indian rice exports reached the highest level in a recent year due to strong demand from African and Asian countries. Thai rice prices have fallen over the past month as new supplies have been replenished and drought hardships have eased, while facing stiff competition from cheaper suppliers from India and Vietnam.
In the domestic market, the price of rice and rice in the Mekong Delta changed from stable to slightly increased in the past month. From May 1, the Government has allowed rice exports to return to normal through international border gates (road, railway, sea, waterway, air). The price of rice in the Mekong Delta increased by 200 VND to 5,500-6,900 VND per kg (depending on type).