Global Rice News

Vietnam Rice Export Surpasses 2.1 Million Tons in Q1 2019

In the first quarter of 2019, Vietnam experienced a significant increase in rice exports, with over 2.1 million tons exported, marking a 42% year-on-year increase in value. As reported by VnExpress, the Ministry of Agriculture and Rural Development disclosed that the country earned a total of 1.4 billion U.S. dollars from rice exports during this period.

Notably, Vietnam’s biggest market for rice was the Philippines, accounting for 38% of the total market share. Other key importers included Indonesia, China, Ghana, Malaysia, and Singapore. This highlights the strong demand for Vietnamese rice across various regions.

To maintain this positive trend, the Ministry of Agriculture and Rural Development has encouraged domestic rice exporters to diversify their markets and improve the quality of their products. By doing so, they aim to enhance the competitiveness of Vietnamese rice in the global market.

Currently, Vietnam’s 5% broken rice export price stands at 576 dollars per ton, which is 12% lower compared to the beginning of the year. Despite this decrease, it is still lower than the prices offered by competitors in Thailand and Pakistan. Traders predict that prices will rise again once the ongoing winter-spring harvest, the largest of the year, concludes in the coming weeks.

Looking ahead, Vietnam has set a target of achieving a rice export value of 5 billion dollars by 2024. With the country’s track record of success in the rice export industry, this goal seems achievable. In 2018, Vietnam exported a record-breaking 8.13 million tons of rice, earning 4.7 billion dollars.

Overall, the future of Vietnam’s rice export industry looks promising. With a diverse range of buyers and a focus on quality improvement, the country is well-positioned to further expand its presence in the global rice market.

Source: [Xinhua News Agency](https://english.news.cn){: target=”_blank” rel=”nofollow”}