Rice price surges 18 pct
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Vietnam’s rice price in the first two months surged 18.2 percent year-on-year to $547.9 per ton, but with lower volume in most markets.
Total volume fell 29.4 percent to over 656,000 tons, according to Vietnam Customs.
The Philippines remained the largest importer but with volume down 28 percent year-on-year to 256,000 tons.
Other markets that saw volumes drop by double-digits include Malaysia (–75 percent), the United Arab Emirates (–56 percent) and E.U. (–23 percent).
China claimed second place with a 140-percent increase to 159,200 tons.
Strong rises in volume were seen in Taiwan, up 80 percent, and France, up 47 percent.
Vietnam’s rice exports grew by 9.3 percent last year to $3.07 billion, according to the Ministry of Industry and Trade.
Questions & Answers
Q.Which country is now the second largest importer of Vietnamese rice?
Which country is now the second largest importer of Vietnamese rice?
China has taken second place, increasing its import volume by 140 percent. This represents a significant shift compared to other major markets which saw considerable declines in their import volumes.
Q.What was the overall trend for Vietnam's rice export volume in the first two months?
What was the overall trend for Vietnam's rice export volume in the first two months?
Overall export volume fell by 29.4 percent during the first two months, totalling just over 656,000 tons. This occurred despite a substantial increase in the price per ton.
Q.Did the Philippines import more or less Vietnamese rice this year?
Did the Philippines import more or less Vietnamese rice this year?
The Philippines, despite remaining the largest importer, decreased its volume by 28 percent year-on-year. This meant it imported 256,000 tons of Vietnamese rice in the first two months.
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