US increases rice imports from Vietnamese market in first half
VOV.VN - The first seven months of 2022 saw Vietnam export nearly 4.2 million tons of rice, up more than 20% over the same period last year, in which the US market increased the most with more than 65%.
Statistically, throughout the reviewed period, rice exports reached 4.19 million tons, equivalent to a value of more than US$2 billion, up 20.5% in volume and 9% in value over last year’s corresponding period.
This is the highest export level ever. Thus, despite fierce competition in rice exports, Vietnamese products are still increasingly popular in the world market.
In the group of Vietnam’s rice import markets, the US market posted the highest increase, up 65.3% in the first half of the year, followed by the Philippines - Vietnam's largest rice consumption market, accounting for 44.5% of the market share with imports expanding by 48.6% on year.
In the first half of the year, the world export price of rice averaged US$489 per ton, down 10.2% over the same period in 2021, while Vietnam's 5% broken rice was at US$415-420 per ton.
Exporters have reduced rice purchases from farmers, waiting for the peak harvest and buying signals from major markets such as the Philippines and China.
Currently, the price of rice in the Mekong Delta provinces is suffering many fluctuations, with stormy weather causing the quality of summer-autumn rice to decrease continuously, while the area of ripe rice is increasing in localities.
Compared with the beginning of July, the price of all kinds of rice has fallen from VND200-400 per kg due to bad weather affecting rice quality and low demand.