Rice exports hit over USD2 billion

Rice export volume in August 2014 reached an estimated 584,000 tonnes, valued at USD267 million, according to the Ministry of Agriculture and Rural Development.

From the start of the year, the country exported 4.44 million tonnes of rice, worth USD2.01 billion, the ministry reported.

The average rice export price in the first seven months of the year was USD452.5 per tonne, a year-on-year rise of 3.1%. The biggest export market for Vietnamese rice during the period was China who purchased 36.18% of the total..

Sales to the Philippines saw a 2.8 fold increase in volume and a 2.83 fold rise in value over the same period last year.. The growth made the market became the second largest importer of Vietnamese rice worldwide, with a 22.99% share of the total market. The following markets were Gana (5.11%), Malaysia (4.39%) and Singapore (3.32%).

The Vietnam Food Association reported that the dry rice price in stock in the Mekong Delta was around VND5,650-5,750 per kilogramme while long-seed rice was priced at VND5,850-5,950 per kilogramme.

Material rice typed 1 to make five percent broken rice cost VND7,500-7,600 per kilogramme, depending on the locality, while the price of material rice to make 25 percent broken rice was VND7,350-7,450 per kilogramme.

(Source: CPV)