Export of rice posts highest growth among key agricultural products
Rice exports in April 2023 were estimated at 1.1 million tonnes with a value of 573.9 million USD, the Ministry of Agriculture and Rural Development reported.
Export of rice posts highest growth among key agricultural products (Photo: VNA)
Hanoi (VNA) – Rice exports in April 2023 were estimated at 1.1 million tonneswith a value of 573.9 million USD, the Ministry of Agriculture and RuralDevelopment reported.
The April figures have brought the total volume and value of rice exports in the firstfour months of the year to 2.95 million tonnes with 1.56 billion USD, up 43.6% in volumeand 54.5% in value over the same period in 2022. This is the highest growthrate among key agricultural product groups.
Some otheragricultural products also posted higher export value than the same period lastyear such as vegetables and fruits (up 19.4%), cashew nuts (3.4%) and coffee (2.5%).
Meanwhile, exports ofother products experienced a downward trend including rubber (down 20%); tea (5.8%);pepper (10%) and cassava and cassava products (12%).
The average exportprice of rice in the first 4 months of 2023 was estimated at 526 USD per tonne,up 7.6% over the same period in 2022. In the first three months of the year,the Philippines was Vietnam's largest rice consuming market with 45.9% marketshare, buying 893,300 tonnes valued at 450.4 million USD, up 32.9% involume and 44.8% in value year on year.
In the group of 15largest rice export markets,⛦ Indonesia recorded the strongest increase in value(up 177.4 times), while Ivory Coast showed the largestdecrease of 70.💮9%.
Vietnam's 5% brokenrice price was 495-500 USD per tonne, the highest levelsince April 2021 and up 50 USD per tonne from a month ago.
Traders said that demand for Vietnamese rice is still strong,while domestic supply is insufficient. However, importers includingthe Ph🅘ilippines are likely to slow down in buying./.
Vietnam exported nearly 7.2 million tonnes of rice worth 3.49 billion USD last year, including many shipments navigating demanding markets such as Japan and the European Union (EU).
Vietnam’s rice exports are predicted to reach just 6 million tonnes this year, lower than last year's figure due to limited supply and inventories, said businesses.
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Export of rice posts highest growth among key agricultural products (Photo: VNA) 
