Rice exports see sharp drop due to market difficulty

The figures represented a rise of 25 percent in volume but a 20.3 percent drop in value compared to 11 months in 2015, according to the ministry, adding that the slow-down of rice export activity was due to decreased demand of rice in the world. 

China, the largest market of Vietnamese rice, bought 36 percent of Vietnam’s total exported rice. However, the official export quota to the market for this year was finished.

Noting that Vietnam’s rice export is facing many difficulties, MARD Deputy Minister Tran Thanh Nam asked the Department of Agro-Forestry-Fishery and Salt Industry to promptly organise a working trip to the Philippines to seek solutions to increase exports to the market.

He also asked for measures to find a way to continue exporting rice to China. In the first 10 months of 2016, Vietnam shipped to China 1.51 million tonnes of rice for 678.7 million USD, down 22.5 percent in volume and 13.7 percent in value over the same period last year.

Ghana is the second market of Vietnam with 11.5 percent of market share. Vietnam exported 442,200 tonnes to the market for 217.1 million USD, up 38.6 percent in volume and 33.3 percent in value. Meanwhile, the fourth largest market, Indonesia, saw a surge of 53.5 percent.

Similar to China, downturn was seen in many other markets, including the Philippines with 61.6 percent, Malaysia, 51.5 percent, Singapore, 34.1 percent, the Ivory Coast, 29.1 percent, and the US, 28.3 percent.

In November, rice price in the Mekong Delta region experienced a slight rise of 100-300 VND per kilo.-