Vietnam Rice Exports Rebound; Prices Stay Low

Vietnam's rice exports hit US$445 million in the first two months, twice the number of the same period last year, the agriculture ministry reported on Friday.

Workers load rice sacks at a seaport in Ho Chi Minh City. Photo: Diep Duc Minh

The strong increase was achieved, even as the average price slipped nearly 6 percent to $443.5 a ton, thanks to a sharp increase in quantity. Rice shipments exceeded one million ton in January and February, the ministry said.

Indonesia replaced China to become Vietnam's biggest rice buyer, accounting for more than 25 percent of the shipments in January. It was followed by China and the Philippines.
Vietnam, however, saw sharp declines in its exports to Hong Kong and the US, both deemed as its high-ranking markets. Shipments to these markets went down 25 and 23 percent, respectively.

Rice exports fell 2.9 percent last year to $2.85 billion. 

Khoa Le

Source: thanhniennews.com