VietNamNet Bridge - Vietnam had a prosperous rice export year in 2018, but has been warned of a tough year in 2019. Vietnam exported 6.1 million tons of rice in 2018 The General Statistics Office (GSO) reported that Vietnam exported 6.1 million tons of rice in 2018, a slight increase of 270,000 tons, or 4.6 percent higher than 2017. The slight increase in export volume was offset by the export price, $502 per ton, or 10.8 percent higher than 2017. This helped the rice export turnover exceed the $3 billion threshold, increasing by 16 percent. Vietnam’s rice price is now equal to, and sometimes is even higher, than Thailand’s. In 2016 and 2017, Vietnam’s average export price was higher than Thailand’s by $7 and $9 per ton, respectively. In 2018, the gap was erased, staying at $502 per ton. This was attributed to the sharp increase in sticky and fragrant rice exports which had better prices (in 2017, the exports of these types of rice exceeded 3 million … [Read more...] about Rice export growth may slow as demand drops from big customers
Rice export vietnam
2018 rice exports: Successful innovation
Innovation and growth Vietnam produced 43.9 million tonnes of rice in 2018, up 1.2 million tonnes from 2017. Since the government issued Decree 107/2018/ND-CP to facilitate rice exports, Vietnam’s rice industry has made positive changes in restructuring, improving rice quality by introducing new, high quality varieties and increasing mechanization in production, preservation and refinement. While Vietnamese rice export prices have improved, the country’s rice export structure has changed to 51 percent white rice, 32 percent aromatic and jasmine rice, 12 percent glutinous rice and 5 percent Japanese Japonica rice. In 2018, Vietnam exported 6.13 million tonnes of rice (up six percent from 2017) at an average price of US$450 per tonne (up 20 percent compared to 2017), US$15 and US$40 higher than that of Thai and Indian products of the same kind. Vietnam exported rice to 150 countries and territories and has penetrated such discerning lucrative markets as the Republic of Korea … [Read more...] about 2018 rice exports: Successful innovation
Rice export likely to reach $3 billion this year
The Philippines is inviting bids for rice import and some Vietnamese firms are expected to win the bids, he added. Rice export has enjoyed year on year increase in both volume and value with continuous bid winning in the Asian markets. The number of government contracts has reduced and commercial contracts has been on the rise. According to Mr. Le Thanh Hai, deputy head of the Export Import Department under the Ministry of Industry and Trade, for the last three years, Vietnam’s rice export market has expanded from 60 to 150 nations and territories including Latin America and the Middle East. Rice export has been systematic with policies making long advance towards liberalization and gradually suiting international regulations. Vietnamese rice export price has maintained high for many years. Sometimes this year, it is US$5-10 a ton higher than Thai rice of the same variety. The high price has not affected export volume and increased local rice price to benefit farmers. However, … [Read more...] about Rice export likely to reach $3 billion this year
Vietnam top rice exporter Vinafood II posts US$3.8 million profit in H1
The Hanoitimes - This result helped the firm reduce its accumulated loss from VND918 billion (US$39.52 million) to VND830 billion (US$35.73 million). Vietnam's top rice exporter Vietnam Southern Food Corp (Vinafood II) posted pre-tax profit of VND88.1 billion (US$3.79 million) in the first six months of 2018, compared to a loss of VND118 billion (US$5.08 million) recorded in the same period of last year, stated the company's financial statement. Illustrative photo. This result helped the firm reduce its accumulated loss from VND918 billion (US$39.52 million) to VND830 billion (US$35.73 million). In the January - June period, the company's revenue reached VND7.44 trillion (US$320.35 million), up 68% year-on-year, while gross profit margin increased by over three times year-on-year to VND659 billion (US$28.37 million). Vinafood 2 also recorded income of VND71.3 billion (US$3.07 million) from financial activities, up 2.2 times year-on-year, and … [Read more...] about Vietnam top rice exporter Vinafood II posts US$3.8 million profit in H1
No notable changes in new rice export regulations
No notable changes in new rice export regulationsBy Thuy Dung Farmers are seen harvesting crops in a file photo. The new Decree 107/2018/ND-CP on rice export operations introduces no significant changes for local rice exporters – PHOTO: TRUNG CHANH HANOI – The new Decree 107/2018/ND-CP on rice export operations, which will take effect on October 1, has yet to remove all barriers hindering local rice traders from exporting rice. The new rules are more relaxed, but they do not introduce significant changes. Commenting on the new rules, Dau Anh Tuan, head of the Legal Department at the Vietnam Chamber of Commerce and Industry, remarked that the latest decree has relaxed some stringent regulations, enabling rice exporters to operate more easily. The new decree allows rice exporters to hire at least one warehouse and one milling facility in accordance with national standards and reduces the volume of stored rice, creating more favorable conditions for medium and … [Read more...] about No notable changes in new rice export regulations