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This will have a major impact on the Vietnamese rice market
.
According to the report of the Agricultural Products Processing and Market Development Bureau of the Ministry of Agriculture and Rural Development of Vietnam, in the first five months of this year, rice exports were about 2.
7 million tons, and the export value was about 1.
48 billion US dollars.
.
The Philippines is Vietnam’s largest rice exporter, accounting for approximately 35.
6% of Vietnam’s total rice exports in the first four months of this year (equivalent to 715,700 tons)
.
7 million tons, and the export value was about 1.
48 billion US dollars.
.
The Philippines is Vietnam’s largest rice exporter, accounting for approximately 35.
6% of Vietnam’s total rice exports in the first four months of this year (equivalent to 715,700 tons)
.
Recently, the Philippines is taking measures to restrict rice imports from Vietnam for various reasons.
One of the reasons is the slowdown in consumption in the country
.
One of the reasons is the slowdown in consumption in the country
.
Mr.
Nguyen Van Thanh, manager of Vietnam Fucheng IV Commercial Production Co.
, Ltd.
, said that the Philippines is the main export market for Vietnamese rice
.
But in this market, on the one hand, Vietnamese rice is facing competitive pressure from cheap rice from India, on the other hand, rice consumption in the Philippines market is currently quite weak, so their customers have also controlled their imports of rice
.
Nguyen Van Thanh, manager of Vietnam Fucheng IV Commercial Production Co.
, Ltd.
, said that the Philippines is the main export market for Vietnamese rice
.
But in this market, on the one hand, Vietnamese rice is facing competitive pressure from cheap rice from India, on the other hand, rice consumption in the Philippines market is currently quite weak, so their customers have also controlled their imports of rice
.
According to the Vietnam Food Association (VFA), the opening price of 5% broken rice in Vietnam on June 17 was US$478-482/ton, while the same variety in India was only US$388-392/ton, and the price in Thailand was US$434-438.
/Ton (all calculated at FOB price)
.
/Ton (all calculated at FOB price)
.
As for the 25% broken rice variety, Vietnam's quotation is 458-462 US dollars/ton, while India is only 358-362 US dollars/ton, and Thailand is 414-418 US dollars/ton (FOB price)
.
.
Since the beginning of 2020, the price of rice in Vietnam has been higher than that in India and Thailand, about 100 USD/ton higher than India, and 15-20 USD/ton higher than Thailand
.
.
