Global Food

 
Vietnam's "Labor Daily" reported on August 14 that data from the Ministry of Agriculture and Rural Development showed that in the first July of 2020, Vietnam had exported about 3.9 million tons of rice , with an export value of US$1.9 billion, an increase of 10.9% year-on-year. In particular, the export price of Vietnamese rice has risen, surpassing that of Thailand, India and Pakistan. Vietnam may once again become the world's largest rice exporter.

According to the Vietnam Food Association, the export price of Vietnamese rice has risen for many consecutive days and has remained high: The current average transaction price of Vietnamese rice with a broken rice rate of 5% is US$493-497/ton. At the same time, compared with last week, the price of rice exported from Thailand fell slightly by about US$3 per ton, and the transaction price was US$463-467/ton. A rice export company in Ho Chi Minh City stated that “at this price, Vietnamese rice with a 5% broken rice rate is currently about US$27/ton higher than similar Thai rice, US$15/ton higher than Indian rice, and US$80/ton higher than Pakistan’s.” .

Entrepreneurs in the rice industry believe that in the 30-year history of rice export, this is the first time that the price of rice in Vietnam is higher than that in Thailand, especially the price difference of US$15-20/ton is really not small. Due to high export prices and stable quantities, Vietnam’s rice exports are likely to surpass Thailand in 2020 and become the largest rice exporter again. The price of rice in Vietnam has risen, and the amount of rice exports to many countries has also increased accordingly. This is the "double" advantage of the Vietnamese rice industry's success in the complex background of the evolution of the new crown pneumonia epidemic. Rice exports to multiple markets have increased. Among them, the Philippines ranked first in Vietnam’s rice export market with a market share of 36.9%, reaching 1.4 million tons and USD 634.3 million, an increase of 13.3% and 30.5% year-on-year. Other markets with large increases in export value are: Senegal (increased by 19.6 times to 41,100 tons), Indonesia (increased by 2.8 times to 45,200 tons), and China (increased by 88.9% to 457,600 tons).

The latest forecast from the US Department of Agriculture in July shows that the world's rice production in 2020 will be 495 million tons, a decrease of about 0.3% year-on-year. The world's rice consumption in 2020 is about 490 million tons, an increase of about 1.3% year-on-year.

Ruan Ruqiang, director of the Planting Bureau of the Ministry of Agriculture and Rural Development, stated that "the Mekong Delta has 1.54 million hectares of sown areas in winter and spring, with an average yield of 7.02 tons per hectare, a record level since 2018, with a total grain output of about 7.3 million tons." In 2020, the output of rice will reach 43.5 million tons, which can export 6.7-7 million tons of rice.

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