Vietnam exported nearly 3.5 million tons of rice in 6 months (Photo: VGP)

This latest statistics represent an increase of 4.4% in volume and up 17.9% in value compared with the same period last year, according to the Agrotrade under the Ministry of Agriculture and Rural Development.

Specifically, the export volume of rice in June is about 409,000 tons with a value of USD 207 million. This brought the total volume and value of rice export in the first six months to nearly 3.5 million tons and USD 1.71 billion, according to Vietnam Biz. 

The Philippines ranked first in the rice export market of Vietnam with 39.9% market share. The volume reached 1.3 million tons and USD 598.6 million, increased by 23% in volume and 42.4% in value over the same period in 2019.

Philippines ranked first in the rice export market of Vietnam (Photo: Ho Chi Minh City Law)

The markets with the largest increase in rice export value are Senegal 18.3 times, Indonesia 2.9 times and China 2.3 times. In contrast, the market with the largest drop in rice export value was Hong Kong with a 38.6% decrease. The average export price of rice reached US $ 485.1/ton, up 13% over the same period in 2019.

Regarding export categories, white rice export value accounts for 38% of total turnover; jasmine rice and fragrant rice account for 38%; sticky rice accounts for 19.6%; japonica rice and Japanese rice account for 4.2%.

Vietnam’s largest export markets for white rice are the Philippines with US$ 399 million, accounting for 63.6%, Malaysia with US$ 78.9 million, accounting for 12.6% and Ghana with US$ 18.4 million, accounting for 2.9%.

With EVFTA, there are bright prospects for Vietnamese rice export (Photo: Investment News)

In the world market, in June, Thai rice export price increased slightly compared to May due to the rise in baht exchange rate and the supply shortage. The rising price made Thai rice less competitive than other major export countries such as India and Vietnam, informed Binh Duong News. 

Meanwhile, Indian rice export fell slightly due to a fall in the rupee exchange rate and the slow down demand from foreign partners. 

The Agrotrade said that there are a lot of bright prospects for Vietnamese rice export ahead once the European Union – Vietnam Free Trade Agreement (EVFTA) comes into effect in August this year. 

In line with the commitments coming along with the EVFTA, the EU will give Vietnam a quota of 80,000 tons of rice per year, with the tax rate slashed to 0% over the next three to five years following the reduction roadmap, VOV reported.