Vietnam imported rice from India for the first time

Vietnam signed a contract with India to purchase 70,000 tons of rice, the first time in decades that Vietnam has imported rice from India, the Vietnam Youth Daily reported on January 6.
Reuters, citing Indian food market analysts, said Asia's rice supply was scarce and low-end rice production was falling, and rice prices could rise sharply in 2021, forcing buyers who had previously imported rice mainly from Thailand and Vietnam to turn to India.
70,000 tonnes of 100 per cent crushed rice imported from India are expected to be delivered in the first two months of this year at a FOB price of about $310 a tonne.
reported that low-end rice in India is now much cheaper than in Vietnam, which has a price of about $500-505 a tonne for 5 per cent of crushed rice, well above the $381-387 a tonne price for similar rice in India.
, manager of Vietnamese company Yuexing Responsibility Co., Ltd., said that the current demand for low-end cheap rice in Vietnam is still very large, mainly used in the production of rice flour, fans, river flour, livestock feed and so on.
said Vietnam has had success in improving rice varieties in recent years, significantly reducing the area under cultivation of low-end rice and declining low-end rice production, which accounted for 70 percent of rice production in 2017 and has dropped to 50-60 percent in the last two years.
, "imported shredded rice is perfectly reasonable, and it is very difficult to buy crushed rice in the Vietnamese market at present," He said.
according to the Ministry of Agriculture and Rural Development of Viet Nam, the structure of Vietnam's rice exports has changed and export prices have continued to rise.
exported 7.7 million tons of rice in 2012 and $3 billion in exports, compared with 6.2 million tons in 2020, but exports were the same as before.
years, Vietnam's rice industry will continue to improve the value of rice, rice growers to bring better income, improve the quality of Vietnamese rice.
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