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Home > News Updates > News Headlines
News Headlines

RICE EXPORT MAY EXCEED PRESET GOAL
10/23/2017

VGP NEWS (23/10/2017)

RICE EXPORT MAY EXCEED PRESET GOAL

VGP – The Viet Nam Food Association (VFA) has decided to raise the preset exports goal of 5.2 million tons of rice  to 5.6 million following positive signals from remarkable increasing rice contracts.

The rice export performance took a different form from 2016 and early 2017 as since May, rice export rebounded with an increase in rice contracts.

The VFA reported that in the first nine months, Viet Nam shipped around 4.57 million tons of rice, up 20.8% in quantity and over 18.6% in value, equivalent to US$ 2.02 billion. China was the largest importer of Vietnamese rice.

The VFA attributed the boom in both quantity and value to better export performance to  traditional markets including China, Malaysia, the Philippines, and Bangladesh. 

Specifically, Vietnamese rice exporters shipped 150,000 tons of rice to Malaysia; 250,000 tons to Bangladesh.

In the rest of the year, China was forecast to continue to maintain high import of Vietnamese rice.

Hence, the VFA decided to raise the preset goal of rice export from 5.2 million tons to 5.6 million tons for 2017.

Earlier, the Ministry of Industry and Trade issued a plan to implement the Strategy on Viet Nam Rice Export Market Development for 2017-2020 with a vision towards 2030 with a view to gradually reducing rice export quantity but maintaining rice export value.

In addition, export and market structures will be adjusted. 

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