Vietnams rice price for export rises in Jan-Feb

Ho Chi Minh City – Vietnam saw the rice export price in the first two months of 2021 expand 18.2% year-on-year and reach an average US$547.9 per ton.

Rice is loaded onto a vessel. Vietnam saw the rice export price in the first two months of 2021 expand 18.2% year-on-year – PHOTO: VNA

Between January and February, the country exported some 656,050 tons of rice worth some US$359.5 million, down 29% and 16.5%, respectively, year-on-year, according to data of the General Department of Customs and the Ministry of Industry and Trade.

In February, Vietnam shipped 308,047 tons of rice valued at US$167.7 million to foreign markets at an average price of US$543.7 per ton, down 11.3% in volume, 12.6% in value and 1.5% in price, month-on-month. The country saw the volume and value plunge by 42% and 29% year-on-year, but the February rice export price soared by 21.7%.

Vietnam’s rice exports in February to the Philippines and Malaysia dipped by 49% and 63%, respectively, month-on-month, while China and the Ivory Coast raised their purchase of Vietnamese rice in February by over 75% against January.

Despite the plunge in Vietnam’s rice exports to the Philippines in February, the latter remained the former’s largest rice buyer in the first two months of the year, importing over 255,870 tons of Vietnamese rice, accounting for 39% of Vietnam’s total rice exports.

China came second with some 159,200 tons of rice imported from Vietnam, skyrocketing 140.4% year-on-year, followed by Ghana, Thanh Nien Online reported.

The data also indicated that Vietnam’s rice exports to the Ivory Coast between January and February soared by 28% in volume at 31,390 tons, 63.7% in value at US$16.7 million and 27.8% in price at US$531.7 per ton, year-on-year.