09/10/2018 10:37 GMT+7 Email Print Like 0

Vietnamese rice top quality on the international market

Vietnamese rice exports have never experienced a rise quite like that just seen in the first nine months of 2018. Notably, high quality rice accounted for 80 percent of all rice exported, helping to lift the average export price to more than 500 USD per tonne, surpassing Thailand and an unprecedented move in the sector’s exporting history.

Rice exports topped nearly 5 million tons in the first nine months, earning 2.5 billion USD, up 8.5% in volume and 23.2% in value year-on-year.
 
The price of the grain during January-August was averaged at 504 USD per ton, a year-on-year rise of 14.6%. Markets reporting price surges included Indonesia, Iraq, the Philippines and Malaysia.

To become a regular rice supplier for world famous supermarket chains such as Walmart and Cosco, the rice sector had to overcome numerous barriers in order to meet the strict requirements on rice quality.
 
Analysts predicted that the domestic rice market would thrive in the fourth quarter thanks to increasing demand from the Philippines, the Republic of Korea (RoK), Nigeria and Egypt, while the supply from other rice exporting countries remains limited.
 
In order to take advantage of this opportunity, local  rice enterprises should increase effective productivity, promoting the brand  of Vietnamese rice on the international market, while keeping in line with increasing value through quality.
VNA/VNP