WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Vietnam remains world’s second largest rice exporter in 2021: USDA
Ngoc Thuy 12:31, 2021/05/11
There has been a positive shift in Vietnam’s rice export structure towards a focus on fragrant rice products with higher quality and price, stated the country’s food association.

Vietnam is set to remain the world’s second largest rice exporter in 2021 with 6.4 million tons, an increase of 233,000 tons compared to last year.

 Rice packaging for export at Trung An Hi-tech Farming Company. Photo: Vu Sinh

The US Department of Agriculture (USDA) released the latest projected data on its global rice outlook report.

According to the USDA, India is expected to remain the largest rice exporter of the world with 15.5 million tons, representing a surge of 940,000 tons year-on-year, while Thailand could be the third by exporting 6.1 million tons, up nearly 400,000 tons.

For the 2020-2021 period, global rice production is forecast to reach an all-time high of 504.2 million tons, down 0.24 million tons from the previous forecast but up 1% from a year earlier.

In contrast, global rice consumption and residual use during the period is projected to be a record 504.3 million tons, 0.4 million tons less than the previous forecast but eight million tons more than a year earlier.

Countries and territories that are expected to boost their rice imports include the Philippines (up 13%), Cote d’Ivoire (9.1%), Ghana (5.6%), and EU (2.1%). Among them, China would account for the largest amount of rice imports in 2021 with 2.9 million tons, followed by the EU (2.45 million tons), and the Philippines (2.2 million tons), with all of them being Vietnam’s major rice buyers.

In 2020, Vietnam exported 6.15 million tons of rice for US$3.07 billion, down 3.5% in quantity but up 9.3% in value against last year.

For the first four months of this year, Vietnam exported nearly 1.9 million tons of rice for US$1.01 billion, down 10.8% in quantity but up 1.2% in value, mainly due to a 13.4% increase in rice export price, reaching US$534 per ton on average.

The Vietnam Food Association noted there has been a positive shift in Vietnam’s rice export structure towards a focus on fragrant rice products with higher quality and price.

Meanwhile, farmers and rice traders are more focusing on improving rice quality and meeting rules of origin to penetrate highly demanding markets of the EU, South Korea or the US.

RELATED NEWS
TAG: Vietnam USDA rice exports Thailand India China Philippines
Other news
20:11, 2024/07/23
Vietnam targets US$7,500 GDP per capita by 2030
By the end of this decade, Vietnam is expected to be among the top three Southeast Asian countries in terms of industrial competitiveness.
16:07, 2024/07/20
Gov’t mulls creation of oil and gas trading exchange
Such a platform would help minimize price manipulation, ensure a flexible pricing mechanism, and improve the distribution and circulation of oil and gas.
21:59, 2024/07/19
Hanoi promotes women's role in safe agri-food trade
The city will focus on strengthening enforcement of food safety regulations in food production and trade facilities.
16:17, 2024/07/17
Vietnam’s stock market set for strong year-end growth
The projected P/E ratio for the VN-Index this year is 11.5, below the 5-year average of 13.4, potential for the benchmark to rise in the second half of the year and 2025.
09:56, 2024/07/17
Hanoi ramps up food safety inspections, identifying and rectifying violations
The city's health department will continue to carry out regular, specialized and random inspections.
16:37, 2024/07/16
Vietnam under pressure to achieve high growth in 2024-2025
The Government's best-case growth scenario for 2024 is 6.5-7%, higher than the goals set by the National Assembly and forecasts by international organizations.