Rice exports cross $1 bln on higher prices
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Vietnam has exported $1.01 billion worth of rice in the first four months of 2021, up 1.2 percent year-on-year, thanks to higher rice prices.
The volume of rice exports during the period dropped 11 percent year-on-year to 1.9 million tons, according to the Ministry of Industry and Trade.
However, as the average export price rose 13.4 percent year-on-year to $534 per ton, its value topped that of last year.
The Vietnam Food Association has forecast that the nation’s rice export value will continue to rise because of higher selling prices.
Vietnam plans to produce 43 million tons of paddy and targets exporting 6.5 million tons of rice this year, according to the Ministry of Agriculture and Rural Development.
The nation was the world’s second-largest rice exporter last year at 6.25 million tons.
Questions & Answers
Q.What was the total value of Vietnam's rice exports in the first four months of this year?
What was the total value of Vietnam's rice exports in the first four months of this year?
Vietnam exported rice worth $1.01 billion during the first four months of 2021. This figure represents an increase of 1.2 percent compared to the same period last year.
Q.Did the volume of rice exported also increase during this period?
Did the volume of rice exported also increase during this period?
No, the volume of rice exports actually dropped by 11 percent year-on-year, totalling 1.9 million tons. This decrease occurred despite the higher export value.
Q.Why did the export value rise if the volume of rice exported fell?
Why did the export value rise if the volume of rice exported fell?
The export value rose because the average export price increased significantly. The price per ton went up by 13.4 percent year-on-year, reaching $534.
Q.What is Vietnam's target for total rice exports this year?
What is Vietnam's target for total rice exports this year?
Vietnam aims to export 6.5 million tons of rice this year. This is part of a larger plan to produce 43 million tons of paddy overall.
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