vietnam's rice export this year will decrease

however, according to euromonitor, the growth rate is forecast to gradually decline to 6% year-on-year in the next 5 years, due to concerns about (1) the government has raised the education and consumer awareness about the harmful effects of alcohol, (2) the special consumption tax may continue to grow in the coming years, leading to a decline in … The global rice market contracted to $ in , remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to ; the trend pattern indicated some The country's coffee shipments in December are estimated at 130,000 tonnes valued at $305 million, it said. Rice Rice exports in 2021 from Vietnam were forecast to drop 0.5% earlier to 6.2 million tonnes. Revenue from rice exports in the year was expected to rise 5% to $3.3 billion. In a recent working paper we explore this phenomenon and find that such insulation from international price movements did not reduce global poverty in 2008. On the contrary, we estimate it may have increased poverty slightly (by 8 million people). Sudden jumps in food prices can have serious social consequences. The decision will impact trade flows as India's white rice prices variety are about $60-$70 per tonne cheaper than Thailand's, Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Site De Rencontre Gratuit 60 Sans Inscription. Illustrative image Photo VNA Hanoi VNA – Vietnam’s rice exports are predicted to reach just 6 million tonnes this year, lower than last year's figure due to limited supply and inventories, said businesses. According to the Ministry of Agriculture and Rural Development, Vietnam exported only 400,000 tonnes of rice worth 203 million USD in January 2023, down in volume and in value year-on-year. Do Tran Hoan, member of the Members’ Council of the Vietnam Northern Food Corporation, said Vietnam earned over billion USD from exporting million tonnes of rice last year, up in volume and more than 5% in value. Vietnam shipped over 3 million tonnes of rice to the Philippines last year, accounting for 45% of the country’s total rice exports and more than 80% of the Philippines’ rice imports, he said. If the Philippines has high inventories, its import demand will drop. Moreover, Vietnam’s rice inventories had slumped as of late 2022, resulting in lower rice export volume this year, he said. Unless the number of Vietnamese rice exporters to China increases, it is unlikely that more opportunities will open up following the COVID-19 pandemic, said analysts. Hoan said Vietnam tends to export more jasmine and high-quality rice as countries have demand to stock more food due to the impacts of climate change. About rice export prices, Chairman of the Board of Directors and General Director of Intimex Group Do Ha Nam said prices generally will increase due to rising consumption demand and political and economic instability caused by the prolonged conflict between Russia and Ukraine./. Finance Watchlists My Portfolio Markets Options Highest Open Interest Options Highest Implied Volatility News Videos Yahoo Finance Plus Screeners Personal Finance High-yield savings account rates Crypto Industries Contact Us markets open in 6 hours 46 minutesS&P Futures Dow Futures Nasdaq Futures Russell 2000 Futures Crude Oil 10-Yr Bond Bitcoin USD CMC Crypto 200 Nikkei 225 Vietnam Rice Industry Report 2022 Rice Exports are to Continue to Rise in Both Volume and Value to 2031DUBLIN, Aug. 9, 2022 /PRNewswire/ - The "Research Report on Vietnam's Rice Industry 2022-2031" report has been added to is rich in rice, tropical crops and aquatic products and is a major exporter of agricultural products in Southeast Asia, and the third largest exporter of rice in the world. According to the analyst's analysis, Vietnam's rice export value reached billion in 2021, and rice has become a bright spot in Vietnam's agricultural products exports. This is a remarkable achievement of the rice industry for many years, especially in the context of natural disasters and COVID-19 epidemic that hit Vietnam's agriculture in 2020 in terms of production and 2021, Vietnam's total rice production was about 44 million tons, meeting the demand for domestic consumption, processing, poultry and livestock feed, and export, etc. In 2020, its rice exports grew against the backdrop of a decline in exports of many of Vietnam's long-dominant agricultural products due to the COVID-19 epidemic. In 2021, rice exports increased from million tons to million terms of price, the average price of Vietnam's rice exports in 2021 dropped percent year on year to $477 per ton. At the beginning of 2021, Vietnamese rice prices still maintained the highest position. On March 25th, Vietnamese rice with a 5% breakage rate rose to $515-520 per ton, Thai rice of the same variety to $500-518 per ton and Indian rice to $398-403. In January 2021, Vietnam's rice export price reached $ per the EU-Vietnam Free Trade Agreement EVFTA came into force on August 1, 2020, rice exports have rapidly seen an upturn. According to EVFTA, the EU provides Vietnam with 80,000 tons of rice for export at 0% tax rate annually including 30,000 tons of milled rice, 20,000 tons of unmilled rice and 30,000 tons of aromatic rice.For rice from Vietnam, the EU will reduce the import duty rate to zero in the coming years. Taking advantage of the above, from September 2020, Vietnam started to sell rice to the EU at a much higher price than before. Specifically, before EVFTA came into effect, the prices of ST20 rice and Jasmine rice exported to the EU were USD800 and USD520 per ton, respectively, while now the prices are over USD1,000 and USD600, to the analyst's analysis, there are three reasons for the rise in Vietnam's rice prices. Firstly, the government issued an agricultural restructuring proposal, by which the rice structure has been strongly adjusted, changing the rice cultivation protocols, paying more attention to improving rice quality rather than increasing 2015, Vietnam's quality rice seeds accounted for only 35%-40% of the total seeds, while in 2020 the Chart reached 75%-80%, and even in some places, the usage rate of quality rice seeds is as high as 90%.Secondly, Vietnam has signed many FTAs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership CPTPP and the Europe-Vietnam Free Trade Agreement EVFTA with many countries, which creates conditions for a breakthrough in Vietnam's rice exports. Third, many industries were affected by the COVID-19 epidemic in 2020, but the market demand for food has not to the analyst's analysis, the Jiulong River Plain is the center of rice cultivation in Vietnam, contributing 50% of rice production and 95% of rice exports to Vietnam's 2020, the Jiulong River Plain cultivated more than million hectares of rice per season, with an average yield of 6 tons per hectare and an annual rice production of more than 24 million tons. Furthermore, its winter-spring rice production is expected to reach 10 million tons from 2020 to analyst reports that Vietnam's rice exports are to continue to rise in both volume and value in coveredOverview of Vietnam's Rice IndustryEconomic and Policy Environment of Vietnam's Rice IndustryWhat is the Impact of COVID-19 on Vietnam's Rice Industry?Imports volumes and values of Vietnam's Rice, 2016-2021Forecast on Imports volumes and values of Vietnam's Rice, 2022-2031Analysis of Major Rice Companies in VietnamKey Drivers and Market Opportunities in Vietnam's Rice IndustryWhat are the key drivers, challenges, and opportunities for the rice industry in Vietnam during 2022-2031?What is the expected revenue of the Vietnam rice market during 2022-2031?What are the strategies adopted by the key players in the market to increase their market share in the industry?Which segment of Vietnam's rice market is expected to dominate the market in 2031?What are the major adverse factors facing the rice industry in Vietnam?Key Topics Covered 1 Overview of Geographical Demographic Structure of Economy of Minimum Wage in Vietnam, Impact of COVID-19 on the Rice Industry in Vietnam2 Development Environment of Vietnam's Rice Brief History of Vietnam's Rice Types of Vietnam's Rice Policy Environment of Vietnam's Rice Industry3 Supply and Demand Situation of Vietnam's Rice Supply Demand Situation4 Import and Export Situation of Vietnam's Rice Import Import Volume and Import Main Import Export Export Volume and Main Export Destinations5 Market Competition in Vietnam's Rice Barriers to Entry in Vietnam's Rice Brand Quality Capital Competitive Structure of Vietnam's Rice Bargaining Power of Rice Bargaining Power of Competition in Vietnam's Rice Potential Entrants in the Rice Substitutes for Rice6 Analysis of Major Rice Brand Companies in Vilaconic Joint Stock Development History of Vilaconic Joint Stock Main Products of Vilaconic Joint Stock Operating Model of Vilaconic Joint Stock Vu Phat International Co., Cam Nguyen Rice Trading And Processing Limited Khanh Tam Company Hoa Lua Rice Trading Company SUNRISE INS Company Khue Star Import Export Trading Company Robert & Partners International Hanfimex Gia Son Phat Trading and Service Outlook on Vietnam's Rice Industry, Analysis of Vietnam's Rice Industry Development Drivers and Development Opportunities for Vietnam's Rice Threats and Challenges Facing Vietnam's Rice Forecast on Vietnam's Rice Forecast on Vietnam's Rice Market Forecast on Import and Export of Vietnam's Rice IndustryFor more information about this report visit ContactResearch and MarketsLaura Wood, Senior Managerpress Office Hours Call +1-917-300-0470For Toll Free Call +1-800-526-8630For GMT Office Hours Call + Fax 646-607-1907Fax outside +353-1-481-1716Logo original content Research and Markets © 2023 Meredith Corporation. All Rights is provided by Barchart at least 10 minute delayed. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see HANOI - Vietnam's rice exports are expected to rise to million tonnes this year from million tonnes last year on strong demand, the chairman of the country's food association said on Tuesday. "So far this year, exports have risen strongly, and we expect to see the momentum continue for the rest of the year," Nguyen Ngoc Nam, chair of Vietnam Food Association, told Reuters. Vietnam, the world's third-largest rice exporter, reported a 19% year-on-year increase in its rice shipments in the first eight months this year, to million tonnes. Export prices of Vietnamese rice are also expected to rise during the coming months on higher production cost and because adverse weather conditions in several rice-growing countries hurt production, Nam said. "Production cost, especially fertiliser prices, has recently risen sharply amid global inflationary pressure," he said. "We are seeing severe droughts and floods in several countries, such as China, India and in some European countries, and this may affect global food supplies." The Philippines will remain Vietnam's largest rice export market this year, he said. Two sources said on Monday Bangladesh is finalising deals with Vietnam and India to import a total of 330,000 tonnes of rice for delivery within the next three months. HANOI - Vietnam aims to cut its rice exports by 44 per cent to four million tonnes a year by 2030, the government said in a document detailing its rice export strategy, down from million tonnes in 2022. Vietnam is the world’s third-largest rice exporter, after India and Thailand. The South-east Asian nation exports 80,000 tonnes to 90,000 tonnes of rice worth nearly $80 million to Singapore each year, making up 20 per cent of the local rice market. The move to cut rice exports is aimed at “boosting the exports of high-quality rice, ensuring domestic food security, protecting the environment and adapting to climate change”, according to the government document dated May 26 and reviewed by Reuters. Rice export revenue will fall to US$ billion S$ billion a year by 2030, down from US$ billion in 2022, the document said. “Although Vietnam’s rice farming area is shrinking due to climate change and some farmers are switching to growing other crops and raising shrimp, the strategy appears to be too aggressive,” a rice trader based in Ho Chi Minh City said on Saturday. The trader said some rice farmers in the Mekong Delta are turning parts of their fields to fruit farms and growing mango, grapefruit, jackfruit and durian, but the vast majority remain dependent on rice. The trend towards cultivating shrimp has been taking place in the area for years as rising seawater triggered by climate change brings significantly increased salination in the Mekong Delta region. Vietnam will diversify its rice export markets to reduce its reliance on any country, the document said. The Philippines has long been Vietnam’s biggest rice buyer, accounting for 45 per cent of its shipments in 2022. Vietnamese Prime Minister Pham Minh Chinh told Philippine President Ferdinand Marcos Jr at a regional meeting in Indonesia in May that Vietnam was willing to supply rice to the Philippines for the long term at reasonable prices. By 2025, 60 per cent of Vietnamese rice exports will be shipped to Asian markets, 22 per cent to Africa, 7 per cent to the United States, 4 per cent to the Middle East and 3 per cent to Europe, the document said. The Vietnam Food Association, which represents rice processors and exporters, did not immediately respond to requests for comment. The government said Vietnam will focus on the production of high-quality, fragrant and glutinous rice, while reducing the production of low-quality grains to 15 per cent of total output by 2025 and to 10 per cent by 2030. “I doubt the strategy will materialise, as rice production depends on supply and demand, not on a government decision,” another rice trader in the Mekong Delta province of An Giang said. Rice exports from Vietnam in the first four months of 2023 rose per cent from a year earlier to million tonnes, according to government customs data. Singapore and Malaysia are among the top 10 largest importers of Vietnamese rice. REUTERS

vietnam's rice export this year will decrease