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An ongoing rise in Vietnam's rice price is the continuation of a trend that began last year when Chinese and Indonesian importers upped their consumption of the Vietnamese staple. Statistics from the Ministry of Agriculture and Rural Development indicated that Vietnam exported an estimated 900,000 tonnes of rice worth VND11.3 trillion (US$480 million) in March, taking the total volume and value of rice exports in the first three months of the year to 1.79 million tonnes and VND22.3 trillion ($952 million), respectively. While the total value of Vietnamese rice exports surged 30 percent against the same period last year, the volume fell 19 percent. From January to March, Vietnam’s rice export price averaged VND12.5 million ($531) per tonne, up 9.2 percent year on year. During the first two months of 2023, Vietnam shipped 401,980 tonnes of rice valued at VND4.8 trillion ($204.69 million) to the Philippines, making the archipelago Vietnam’s largest rice buyer, accounting for 43 … [Read more...] about Export price of Vietnamese rice on the rise

Vietnam now sees a sharp increase in rice orders from the Philippines and China. Acccording to Pham Thai Binh, General Director of Trung An Hi-tech Agriculture Joint Stock Company in the Mekong Delta city of Can Tho, the company has signed an order to export 2,000 tonnes of rice to China and is under negotiation for another batch of 20,000 tons. Statistics from the General Administration of Vietnam Customs show that in the first two months of this year, China imported 152,640 tons of rice from Vietnam worth 90 million USD, a year-on-year increase of 86% in volume and 120% in value. Vietnamese rice exported to China enjoyed an average price of 589.7 USD per ton, 18.3% higher than that of the same period last year. Chinese customers mainly imported Vietnam’s high-quality rice like fragrant rice and sticky rice with high prices. Meanwhile, the Philippines is anticipated to import about 2.8 million tons of rice from Vietnam during the 2022-2023 crop because the country’s rice … [Read more...] about Vietnam expected to export 7 million tons of rice this year: Ministry

The Hai Thach 1 oil rig under the Bien Dong 1 project (Photo: VNA) Hanoi (VNA) – Head of the Party Central Committee’s Economic Commission Tran Tuan Anh held a working session with the Vietnam National Petroleum Group (Petrolimex) in Hanoi on March 31. Anh, who is also head of the Steering Committee for the building of a project on reviewing the implementation of the Politburo’s Resolution on the strategic orientations for the development of the Vietnamese petroleum industry by 2025, with a vision to 2035, asked delegates to discuss Petrolimex’s production and trade situation since the issuance of the Resolution, focusing on shortcomings, difficulties, their causes and suggestions regarding policies, mechanisms, legal regulations, particularly petrol price and market management, investment procedures, business development, national petroleum reserve as well as the construction, management, and operation of warehouse-port system. The meeting between head of the … [Read more...] about New strategic orientations for Petrolimex suggested