Loading rice for export at Sai Gon port (Photo: VNA) HCM City (VNA) - Increasing global demand , stable domestic production , and better rice quality count among the reasons Vietnam can be confident its rice exports will prosper again in 2021 and surpass the 3.1 billion USD in revenue posted in 2020, despite a significant decline in the first two months of this year. According to figures from Vietnam Customs , Vietnam earned 192 million USD from shipping nearly 348,000 tonnes of rice overseas in January, down 34.2 percent in value and 36.4 percent in volume against December and 2.4 percent and 15.4 percent, respectively, year-on-year. As the Lunar New Year (Tet) holiday fell in February, the month’s export turnover is expected to be down. Nguyen Van Don, Director of Tien Giang province’s Viet Hung Limited Company, said the beginning of the year is never the peak time for trade, as consumers have already purchased rice for the long holiday period at the end of the previous year. Rice prices in the Mekong Delta are also at a high level, so purchasing businesses and foreign customers are all waiting for them to fall. General Director of the Trung An Hi-tech Farming JSC Pham Thai Binh said that transportation problems have also hampered rice exports in recent times. He pointed out that the country is facing a serious shortage of empty containers and cargo ships for exports. According to the Vietnam Food Association (VFA), there are high hopes being pinned on Vietnam’s rice exports in 2021, with major export markets such as the Philippines and Africa continuing to sign contracts, while many others have significant demand for fragrant rice and sticky rice, in which Vietnamese enterprises hold an advantage. Packaging rice for export (Photo: VNA) VFA Vice President and General Secretary Nguyen Trung Kien said that bilateral and multilateral free trade agreements (FTAs) such as the EU-Vietnam FTA and the UK-Vietnam FTA, which contain …
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