Vietnam firm wins bid to ship 60,000 tons of high-quality rice to South Korea
This is the first time a Vietnamese private enterprise won an entire 60,000-ton Japonica rice contract for South Korea under the government - to - government procurement, stated the Vietnam Food Association (VFA).
Vietnam's Tan Long Group beat competitors from China, Thailand, and Australia to win a contract of supplying 60,000 tons of Japonica rice to South Korea, according to the VFA.
Illustration photo.
|
Moreover, this is the first time a Vietnamese private enterprise was chosen among international competitors to win the entire 60,000-ton Japonica rice contract for South Korea under the government - to - government procurement.
For the export price of US$700 per ton for Japonica rice, Tan Long Group is expected to rake in over US$40 million from this deal.
Under the contract agreement, Tan Long Group is scheduled to deliver 60,000 tons of Japonica rice to South Korea by September 15 at the latest.
Vietnam's rice export in the first six months totaled 3.57 million tons worth US$1.81 billion, increasing 42% in value and 25% in volume compared to the same period of last year, according to the Ministry of Agriculture and Rural Development.
Meanwhile, China continued to be Vietnam's largest rice import market, accounting for 30% of the latter's total export volume, followed by Indonesia with 19%.
In June, rice export prices of almost all major rice exporters saw a decline, however, Vietnam's 5% broken white rice averaged US$450 per ton, higher than the export price of similar rice product from India and Thailand.
In 2018, Vietnam set the target of exporting 6.5 million tons of rice, Vice Minister of Agricultural and Rural Development Ha Cong Tuan told Vietnam News Agency.
21:45, 2025/01/15
Hanoi seeks 5% export growth in 2025
The city’s total import-export turnover reached US$60.1 billion in 2024, up 11% year-on-year.
08:41, 2025/01/11
Vietnam-Laos Industrial Park: New direction to strengthen bilateral ties
Numerous Vietnamese projects in various sectors have effectively contributed to Laos' development, creating jobs and improving the livelihoods of tens of thousands of local workers.
22:19, 2025/01/09
Hanoi's foreign trade turnover hits US$60.1bn in 2024
The city will continue to support businesses in exploring new markets, capitalizing on the Free Trade Agreement of which Vietnam is a member.
11:46, 2025/01/09
Vietnam confident of achieving 8% growth rate in 2025
Key drivers of Vietnam’s growth include institutional reforms and decentralized governance.
14:34, 2024/12/26
UK’s accession to CPTPP to benefit Vietnam’s exports in 2025
Vietnam, in particular, will gain further access to a high-quality market, complementing its connections with Japan, Canada, and Australia.
16:41, 2024/12/16
Hanoi seeks greater efficiency in e-commerce tax management
Hanoi's e-commerce tax administration is expected to be significantly tightened in the near future.