Rice exports can completely "reach the target" of 6.3 million tons

Rice exports reached nearly 4.08 million tons

According to preliminary statistics of the General Department of Customs, in July 2022, the whole country exported 582,635 tons of rice, equivalent to 285.28 million USD, the average price was 489.7 USD/ton, down nearly 20% in both volume and quantity. turnover, but the price increased slightly by 0.3% compared to June 2022; compared with July 2021, it increased sharply by 30.4% in volume, increased by 23% in turnover but decreased by 5.6% in price.

In the first 7 months of 2022, the country's rice exports reached nearly 4.08 million tons, equivalent to over 1.99 billion USD, up 17.3% in volume, up 6% in turnover compared to 07 months. In the first month of 2021, the average price reached 488.9 USD/ton, down 9.6%.

The top rice export markets of Vietnam in the first seven months of this year include the Philippines, Ivory Coast and China.

Accordingly, in July 2022, rice exports to the Philippines market reached 354,279 tons, worth $165,810 million, nearly doubling in volume and 1.93 times in turnover compared to July 2021. Generally, for 7 months, rice exports to this market reached 1,978,849 tons, worth US$924.875 million, up 55.72% in volume and 38.92% in turnover compared to the same period last year.

According to Mr. Do Ha Nam - Vice Chairman of the Vietnam Food Association (VFA), Chairman of the Board of Directors, General Director of Intimex Group, in the first 7 months of the year, rice exports to the Philippines increased sharply because they were worried that India would stop exporting rice. should promote buying rice from Vietnam. Although the volume of rice exports increased sharply, the turnover increased disproportionately, because traders forced prices and calculated that the price of rice exported to the Philippines decreased, not increased compared to the same period in 2021.

According to this expert, Filipinos are now very fond of Vietnamese rice Dai Thom 8 (DT8), because of its delicious quality and reasonable price, it is competitive, and importantly, only Vietnam can produce DT8. should dominate and keep a stable market share, although Thailand is "very hungry" but cannot compete with Vietnam's DT8 rice in this market.

The second is the Chinese market, although in July 2022 rice exports to this market fell sharply by 44.9% in volume and 41.7% in turnover compared to June 2022, reaching 27,617 tons, equivalent to 14.53 million USD; compared with July 2021, also strongly decreased by 55.5% in volume, down by 50.5% in turnover.

But in the first 7 months of 2022, rice exports to China accounted for over 11.4% of the total volume and 12.2% of the total turnover, reaching 466,225 tons, equivalent to USD 242.74 million, with an average price of 520 ,6 USD/ton, down 28% in both volume and value; prices decreased slightly by 1% over the same period in 2021.

Ranked third in the top rice export market of Vietnam in the first 7 months of this year is Ivory Coast, with July rice exports reaching 74,029 tons, worth 35,636 million USD, up 17.52 compared to July 2021. % in volume and 10.14% in turnover. Generally, in 7 months, it reached 396,759 tons, worth 177,702 million USD, up 48.29% in volume and 30.17% in turnover compared to the same period last year.

Rice exports may "reach the target" of 6.3 million tons

Currently, businesses are taking full advantage of the increased demand from the market to boost exports.

With the goal of exporting 6.3 million tons of rice in 2022, worth $3.3 billion, many agricultural experts believe that rice exports can completely "reach the target", even exceeding the plan proposed by the Ministry of Agriculture and Rural Development. out. To do that, businesses need to fully exploit the advantages of price, market demand and market group.