Vietnam’s rice exports surge 42% in first half of 2018

Thursday, 2018-06-28 17:08:15
 Font Size:     |        Print

China remains the largest importer of Vietnamese rice.
 Font Size:     |  

NDO - Rice exports brought in US$1.81 billion for Vietnam in the first six months of 2018, up 42% over the same period last year, the Ministry of Agriculture and Rural Development has reported.

The latest data shows that Vietnam shipped 3.56 million tonnes of rice during the period, a year-on-year increase of 25%.

As of the end of May, China remained the largest importer of Vietnamese rice at a value of nearly US$500 million, followed by Indonesia which purchased 596,000 tonnes worth US$280 million.

In June, Vietnam’s 5% broken white rice averaged US$450 a tonne, still higher than the same type of rice from India and Thailand whose average prices were US$410 and US$435 a tonne respectively.

According to the agriculture ministry, Vietnam’s exported rice structure saw a noticeable shift in May, with a growing proportion of high-quality rice, accounting for nearly one third of the total export value in the month and up 53.8% against April.

The value of 15% and 25% broken white rice also rose by 57.7% in May as Vietnamese exporters were fulfilling orders placed by Indonesia and the Philippines, while Japonica and 5% broken rice fell by 11% and 41.4% respectively.

At the same time, glutinous rice exports dropped by 35.9% to US$38.6 million as a result of falling demand in China.