Rice export price exceeds US$550 million per tonne

Most notably, the country exported 348,000 tonnes of rice worth US$192 million in January, a decline of 15.4% in volume and 2.4% in turnover compared to last year’s corresponding period.

The Philippines remained the leading consumer of Vietnamese rice with 170,000 tonnes worth US$91.38 million, therefore accounting for 48% of the nation’s total volume and total turnover.

Despite these figures, there was a sharp decline of 38% in terms of volume and 38% in turnover compared with December, 2020. Indeed, the rice export price to the Philippines increased slightly by 2%, reaching an average of US$537.9 per tonne.

China ranked second for importing Vietnamese rice, followed by Ghana, the Ivory Coast, and India, with the export prices in these markets reaching US$520.9, US$589.6, and US$523 per tonne, respectively.

According to figures compiled by the Vietnam Food Association (VFA), rice exports in the year ahead are anticipated to enjoy a positive outlook in both volume output and price.

Currently, Vietnam's main export markets such as the Philippines and Africa are continuing to sign contracts in order to purchase rice from the country at high prices.