Rice exports rise despite stockpiling amid pandemic

Vietnam’s rice exports grew by 9.3 percent last year to $3.07 billion though it stockpiled the grain to ensure food security after Covid-19 broke out.

Vietnam, rice, exports, 2020

But volumes were down 3.5 percent to 6.15 million tons since the country stopped exports for over two weeks in March and April to ensure adequate domestic supply amid the pandemic.

The average price rose by 13.3 percent from the previous year to $499 per ton, the highest in years, the Ministry of Industry and Trade reported.

Vietnamese farmers and exporters are focusing on quality and getting higher prices by meeting import standards in markets like the E.U., South Korea and the U.S., it said.

Eighty five percent of the country’s exports last year were considered to be of high quality, according to the General Statistics Office.

In 2019, Vietnam was the world’s third largest rice exporter behind India and Thailand with shipments of $2.81 billion. Its biggest buyer was the Philippines.

News Related

OTHER NEWS

Construction on wind power project begins in Ca Mau

Construction of a wind power project started in Nguyen Huan commune, Dam Doi district, the southern province of Ca Mau on January 16. Read more »

Vietnam maintains stable exports to Israel in 2020

Vietnam earned an estimated 700 million USD from exporting goods to Israel in 2020 despite difficulties and obstacles posed by the COVID-19 pandemic, according to the Vietnamese Trade Office in the Middle East... Read more »

Binh Dinh: nearly 4,200 ha of forests certificated by FSC

Nearly 4,200 hectares of forest owned by Quy Nhon Forestry Co., Ltd in the central province of Binh Dinh have been granted the sustainable forest management certificate in accordance with the Forest Stewardship... Read more »

Vietnam Airlines receives multimillion-dollar bailout package as state investment

State Capital Investment Corporation (SCIC), the investment arm of the Vietnamese government, is looking to funnel VND8 trillion (US$347 million) into the charter capital of the flagship air carrier Vietnam Airlines. On Thursday,... Read more »

Think tank forecasts 6.46 percent growth for Vietnam

A government think tank has pegged economic growth at 6.46 percent this year thanks to the country’s success in containing the Covid-19 outbreak and maintaining stability. Read more »

Ho Chi Minh City seeks investment for seven major projects

HCM City is seeking foreign investment over the next five years for seven major projects, including four metro lines. Read more »

Vietnam emerges as attractive Asian destination for investors: The Economist

Vietnam has emerged as an attractive foreign direct investment (FDI) destination in Asia, by beating China and India, a report by The Economist Intelligence Unit (EIU) has indicated. Read more »

Tax revenue from private companies slightly increases in 2020

Tax revenue from private companies slightly increases in 2020 Read more »

Hanoi keens on boosting key industrial products

Nearly 120 products of 77 enterprises have been recognized as Hanoi’s spearhead industrial products, marking a turnover of US$8.6 billion in 2020. Read more »

Strong partnership with Vietnam vital to US strategic presence in Indo-Pacific: USABC

Vietnam is an important partner for US in ASEAN as well as a growing market for American exports and increasingly an important part of global supply chains for American companies, said the Chairman... Read more »