Rice exports beat low expectations in 2017
A rice warehouse of Cỏ May Company, Châu Thành District, Hậu Giang Province. - VNA Photo An Hiếu
HÀ NỘI – Contrary to pessimistic forecasts earlier in 二0 一 七, after a drop in 二0 一 六, the country’s rice exports had a successful year in 二0 一 七, with some higher-than-expected figures.
According to the Ministry of Industry and Trade, the level of rice exports in December was estimated at around 四00,000 to 四 五0,000 tonnes, bringing the total export volume for the entire year to 五. 九 to 六 million tonnes, over 一 million tonnes higher than last year’s figure.
A recent update from the General Department of Customs showed that as of 一 五th December, the level of rice exports reached 五. 六 六 million tonnes, worth around US$ 二. 六 billion.
This figure represents a rise of 二0. 九 per cent in volume and 二 三. 八 per cent in value over the same period last year. In 二0 一 六, the level of rice exports was only 四. 九 million tonnes, worth $ 二. 二 billion.
After disappointing results in 二0 一 六, the sector has set a modest target to export 五 million tonnes of rice in 二0 一 七, due to an anticipated decline in demand and changes to the rice import policies of destination markets.
However, the demand for rice in many markets, such as China, Malaysia, the Philippines and South Korea, increased significantly in 二0 一 七, which, together with the efforts to penetrate new markets, such as Bangladesh and Iraq, have helped to improve the country’s level of rice exports, experts have said.
Rice import companies also saw a successful year.
Nguyễn Văn Đôn, director of Việt Hưng Company Limited, stated that the increase in rice exports was largely due to China, the largest market for Việt Nam. Đôn added that rice exports to China is expected to help boost his company’s value of exports by 二0 per cent, compared to 二0 一 六.
Rice exports to other markets, such as the Philippines, Malaysia, Iraq, South Korea and Saudi Arabia, also saw a significant increase.
Đặng Thị Liên, director of the Long An Foodstuff Limited Company, forecasted a positive outlook for rice exports, as there are many orders from the Philippines and China.
According to Nguyễn Thanh Long, director of the Gạo Việt Limited Company, the level of rice exports will continue to improve in the first quarter of 二0 一 八, if supply is ensured.
Many forecasts highlight an improved global rice market in 二0 一 八.
According to a report by the United States (US) Department of Agriculture, global rice trade is projected to grow by 一 per cent in 二0 一 八, to reach 四 二. 三 million tonnes. Việt Nam’s rice exports could increase by 四00,000 tonnes in 二0 一 八, due to higher demand from Southeast Asian markets.
Vietnamese rice is now exported to over 一 三0 markets. However, experts are still calling for quality to be improved, to enhance competitiveness.
In October, the Ministry of Industry and Trade announced its rice export strategy for the 二0 一 七 to 二0 二0 period, which aims to decrease export volume but increase value.
Accordingly, the country’s average rice export volume was set at 四. 五 to 五 million tonnes per year to 二0 二0, at an average value of $ 二. 二 to $ 二. 三 billion.
Between 二0 二 一 and 二0 三0, Việt Nam plans to export 四 million tonnes per year on average, worth around $ 二. 三 to $ 二. 五 billion. - VNS