According to the MARD, in the first quarter of 2022, Vietnam exported more than 1.48 million tonnes of rice, worth 715 million USD. The figure is up 24% in volume and 10.5% in value compared to the same period last year. Most Vietnamese rice importers have tended to increase their imports, at the same time, the price of rice has also risen sharply. It has shown that Vietnam’s rice export is creating a breakthrough in the international market.

Rice is packaged for export at Phuoc Thanh II Co., Ltd (Long An province). (Photo: Mai Huong)

The export price of rice is rising highly

Speaking about the outstanding point of Vietnam’s rice export in the recent time, Mr. Pham Thai Binh – Director of Trung An Hi-Tech Farming JSC ( Can Tho city), said that, from the beginning of the year to now, his enterprise has exported a large quantity of high-quality rice to the EU at 1,000 USD/tonne. Compared to other markets, the export price to the EU is very high and the demand for imports from this market is still very large. At present, the enterprise is preparing orders for the second quarter of 2022.

Similarly, according to Mr. Nguyen Tuan Khoa – Deputy Director of Phuoc Thanh II Co., Ltd ( Long An province), in the first quarter of 2022, the company has exported 10,000 tonnes of rice, mainly to the Philippines and the United Arab Emirates (UAE) at an average price of 560 USD/tonne – a quite good price level in the last two years. Currently, the company is preparing to export rice to the Philippines, Malaysia, and some other markets.

Considering that rice is one of the agricultural items recording a great growth in both volume and value, Mr. Nguyen Quoc Toan – Head of the Department of Processing and Agricultural Market Developing (MARD), said that in the first quarter of 2022, Vietnam exported more than 1.48 million tonnes of rice, worth 715 million USD. The figure is up 24% in volume and 10.5% in value compared to the same period in 2021. In particular, in April 2022, the export price of 100% of Vietnam’s broken rice was adjusted three times with a total increase of 17 USD/tonne. The export price of rice also reached the highest level in the recent four months.

Meanwhile, at this time, the demand for rice imports from many countries in the world is also high. In addition to traditional markets such as the Philippines (Vietnam’s largest rice import market), China, Malaysia, the United States, and Korea, the export to the EU is forecast to increase sharply in 2022 thanks to the advantage of the EU-Vietnam Free Trade Agreement.

“In addition to the increase of market demand, Vietnamese rice export has risen sharply thanks to its quality which has confirmed its position in the international market. Besides, the breakthroughs in the exploitation of new markets also created great values for rice export activities.” Mr. Nguyen Quoc Toan said.

Focus on high-quality products

According to the Vietnam Food Association, in 2022, Vietnam’s rice export may reach about 6-6.2 million tonnes. The second quarter of 2022 is the time when the world rice market will boost its purchase. This is an opportunity for Vietnamese rice exporters.

However, the reality shows that Vietnam’s rice export is facing some difficulties due to the rise of competitors besides good signals about purchasing prices and the number of orders. Therefore, rice exporters need to focus on high-quality product lines.

According to the President of the Vietnam Food Association, Mr. Nguyen Ngoc Nam, currently, the price of Vietnamese 5% broken rice is exceeding Thailand but the export value is quite low compared to the fragrant rice. This price level may remain for a short time, not yet bearing a sustainable value.

Meanwhile, the prices of Vietnam’s fragrant rice lines are still lower than Thailand’s fragrant rice. Vietnamese enterprises should focus on producing fragrant rice and high-class rice for export to the hard markets because the opportunity in these markets is very large. At the same time, they also need to focus on the brand building because rice with a better brand will be purchased at a higher price from 10% to 20% despite having the same quality.

According to Mr. Pham Thai Binh – Director of Trung An Hi-Tech Farming JSC, rice exporters need to create products with stable quality for sustainable development.

Mr. Phung Duc Tien – MARD Deputy Minister, emphasized that the rice industry is following the direction of boosting values and sustainable development with the focus on improving the quality and value of Vietnamese rice. In the coming time, the MARD will coordinate with localities and enterprises to build the brand name and the rice products sector of Vietnam. Accordingly, MARD will continue to implement mechanisms, policies, and solutions to build a complete chain value of rice. Along with this, MARD will also promote the attraction of financial resources, and technology applications – heading to the modern and sustainable development of Vietnamese rice with high-quality rice production chains such as SRP, GlobalGAP, or VietGAP.

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