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In 2018 Vietnam's rice exports and prices both rose sharply

  • Author:Agnes
  • Release on:2018-07-31

In 2018, Vietnam's rice exports and prices both rose sharply

In the first six months of 2018, China continued to rank first in Vietnam's rice imports with a market share of 26.8%.

This is followed by Indonesia with a market share of 18.2% and a market share of 10.4% in the Philippines.
According to market analysis, the Agricultural Products Processing and Market Development Department predicts that Vietnamese rice exports will show positive signs from the Philippines market in the second half of 2018, and it is estimated that 500,000 tons of rice will be imported.

India's rice export prices may be higher than competitors such as Vietnam or Thailand announced by the Indian government, raising farmers' rice prices to 13% from the same period last year.

Start with the current crop. As Iraq is cutting rice cultivation to cope with water shortages, Iraq’s import demand will increase in the coming months.

In addition, African countries still need to import rice to meet growing domestic demand. These are all opportunities for Vietnamese rice exports.

However, as the largest market is China's increased import tariffs and enhanced quality control, the rice sector will face many difficulties in increasing exports.

At the same time, due to rising US dollar prices, export prices have risen, rice prices have not reached high levels, and summer supplies in Vietnam and Thailand have also risen.

Therefore, enterprises should focus on promoting the quality control of exported rice and seeking new export markets.