Positive signs for rice exports

An estimated 452,000 tons of rice were shipped overseas in May, bringing the total export volume for the first five months of 2018 to 2.66 million tons, worth US$1.45 billion, up 13.9% in volume and 40% in value against the same period last year.

On the domestic market, the price of paddy rice has seen an increase due to growing consumption demands, with the price of normal paddy rice rising by VND100-200 per kilo, while high-quality paddy rice has increased by VND400-500 per kilo.

Rice exports have been thriving from early in the year. The Ministry of Agriculture and Rural Development forecast that by the end of this month, the domestic rice price will continue its upward trend due to the prospect of exports to the Philippines.

In addition, the growth in rice exports has been attributed to changes in the structure of exports, the improving quality of rice, and a breakthrough in export prices.