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Monday, June 24, 2024

Rice exports in Jan-April grow strongly

The Saigon Times

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HCMC – Vietnam exported around 2.95 million tons of rice worth nearly US$1.56 billion in the first four months of this year, up 43.6% in volume and 54.5 % in value year-on-year, according to the Ministry of Agriculture and Rural Development.

This is the highest growth rate among the key agricultural product groups. Some other agricultural products also recorded positive export growth, such as coffee with a 2.5% rise, vegetables and fruits with a 19.4% spike and cashew nuts with a 3.4% increase.

Meanwhile, others saw their export value plunging, with rubber dropping by over 20% and pepper falling by 5.8%.

Data from the Ministry of Agriculture and Rural Development showed that the average January-April rice price increased by 7.6% versus the year-ago period, at US$526 per ton.

The Philippines remained the largest buyer of Vietnamese rice, with 893,300 tons valued at over US$450.4 million, surging 32.9% and 44.8% year-on-year, respectively.

In April alone, Vietnam shipped some 1.1 million tons of rice abroad, bringing in US$573.9 million, with the price of rice exports from Vietnam reaching a two-year high.

The good rice export performance has driven up rice prices in some provinces in the Mekong Delta, the country’s key rice growing area.

In An Giang Province, rice increased by VND300 per kilogram, with the IR50404 variety rising to VND6,200 per kilogram and OM5451 to VND6,400 per kilogram.

In Kien Giang Province, fragrant rice type VIII edged up by VND150 to VND6,600 per kilogram, while IR50404 remained at VND6,150 per kilogram.

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