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Vietnamese rice is massively purchased by many countries

Vietnamese rice is massively purchased by many countries

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According to the latest data from the Vietnam Food Association, the picture of rice exports in October had many changes in terms of import rankings when China – the second largest importer of Vietnamese rice for many years, fell down. Ranked 6th. Meanwhile, emerging countries such as Indonesia, Ivory Coast, Ghana, Malaysia continuously change rankings, surpassing China and are in the top 5 in terms of market share.

Accordingly, in October – Indonesia imported more than 144,600 tons of rice from Vietnam – ranking second after the Philippines. Next is Ivory Coast – this market previously only imported 1,000-3,000 tons of rice from Vietnam, in October it increased to nearly 62,000 tons, equivalent to a value of 37.2 million USD.

Similarly, Ghana and Malaysia, in October also increased import output 5-6 times compared to February, to 46,470 tons and 40,728 tons respectively – rising to the top 5 countries leading Vietnamese rice imports. Compared to September, the rice import output of these countries in October increased by 20-30%.

Vietnamese rice is massively purchased by many countries
Top 6 Countries importing Vietnamese Rice.

According to export businesses, the above countries increased their purchases of Vietnamese rice due to a sharp decrease in world supply. In the domestic market, the rice supply of these countries is also affected by natural disasters and drought. Therefore, to ensure prices and reserve supplies, they have stepped up importing rice from Vietnam.

Indonesia currently needs about 1.5 million tons of rice for national reserves from now until the end of the year. Acting Indonesian Minister of Agriculture, Mr. Arief Prasetyo Adi, announced that Vietnam and Thailand will be the two main rice suppliers for this purchase.

Preum Bulog (the agency designated by the Indonesian Government as a rice importer) said that all necessary licenses for importing 1.5 million tons of rice have been issued by the relevant authorities of this country and the Imports have been carried out since the end of October this year.

Ivory Coast, Ghana’s rice production in the past 2 years has not been enough. In particular, these countries in the West African region are always in a state of natural disasters, crop failures, political instability or epidemics.

Because of increased purchasing in large quantities, Vietnam’s export rice price is the highest in the world and has remained at 653 USD per ton for nearly a month, 75 USD more expensive than Thai products.

Vietnamese rice is massively purchased by many countries
In addition to export supply, Vietnam still has to ensure domestic food security.

In the domestic market, domestic rice prices continue to reach record highs. In particular, in the North, rice prices increased very sharply. Specifically, Dai Thom from large domestic companies costs 21,000 VND/kg, an increase of 1,000 VND (5%) compared to last month and an increase of 3,000 VND (16%) compared to the same period last year.

Rice purchased by Loc Troi Group stores and ST21 and ST24 varieties from small and medium enterprises also increased by 500 VND/kg compared to a month ago. With Long An Jasmine Fragrant, the price per kg is 21,000 VND, Go Cong 22,000 VND, both increased by 1,500 VND.

A report from the Ministry of Agriculture and Rural Development said that this year’s rice output will reach 43 – 43.4 million tons, an increase of about 650,000 – 700,000 tons compared to 2022. In addition to export supply, Vietnam still has to ensure food security. domestic food.

As of October 25, the Fall-Winter crop has about 400,000 hectares left unharvested, equivalent to nearly 2.2 million tons of rice that will be harvested from now until the end of December. For the Winter-Spring crop of 2023 – 2024, it is expected to plant nearly 3 million hectares, down 10,000 hectares compared to the previous crop. However, output is expected to increase compared to the same period in 2022, reaching over 20 million tons. Thanks to farmers increasingly having advanced care techniques and choosing varieties with good yields suitable for the climate.

Emilia Chaney
Emilia Chaneyhttps://agrisearch.net
My name is Emilia Chaney. I'm a social girl from Romania with a big smile and 3 passions: Agriculture, Travel and Social Media. I try to make this blog practical, full of great advice and inspiring ideas.

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