According to the Ministry of Agriculture and Rural Development, Vietnam rice export turnover in the first 4 months of 2018 reached 1.092 million tons, up 22.3% in volume and 38.3% in value y-o-y. This is the third consecutive year that Vietnam rice exports have gained such sharp growth. Expanded markets and improved quality of rice are what contribute to the growth of rice. Notably, since the beginning of the year, Vietnam has won contracts to export rice to major markets.
Since the end of 2017, Vietnam’s the average rice export price has always been 50 - 100 USD higher than that of opponents such as: Thailand, Pakistan, India.
Vietnam wins contract to supply 130,000 tons of rice to Philippines
According to the National Food Authority (NFA) - Phillippines, Vietnam has just won a bid to supply 130,000 tonnes of rice to this country. Accordingly, out of a total of 250,000 tonnes of rice offered by the Philippines, Vietnam will supply 130,000 tonnes and the remaining 120,000 tonnes will be provided by Thai businesses.
Vietnam will supply 50,000 tonnes of 15% broken rice to the Philippines at $ 526.5 per ton and 80,000 tonnes of 25% broken rice at $ 517.5 per tonne. In addition, the NFA will open a new bidding on May 22.
Vietnam wins contract to supply 300,000 tons of rice to Indonesia
The kind of rice that Indonesia requires is 15% broken rice, delivery time is from May to July 2018. Since the beginning of 2018, Indonesia has imported from Vietnam over 440,000 tons of rice.
Besides Indonesia and the Philippines, China and Iraq are also main export markets of Vietnam rice. With this positive growth, the Vietnam Food Association predicts that in 2018, the rice export turnover will reach about 6.5 million tons.