In March alone, the country shipped 524,000 tonnes, grossing US$243 million in export revenue. The average export price of rice bumped up 8% compared to Q1 of 2013 to US$486.5 per tonne. Vietnam’s rice exports to the Philippines saw staggering growth, up over 7 fold in both volume and value against Q1 of 2013.
With these positive results, the Philippines was Vietnam’s largest ricer consumer, accounting for 46.95% of market share, followed by China (23.91%) and Hong Kong (3.8%).
The Vietnam Food Association (VFA) forecasts that Vietnam’s rice exports will cap out at roughly 7 million tonnes this year.
At present, the price of dried paddy at stores in the Mekong River Delta is hovering around VND5,250-5,350 per kilo while the price of long-grain paddy is holding steady at about VND5,550-5,650 per kilo.
The price of 5% broken rice ranges from VND7,750-7,850 per kilo while 15% broken rice varies from VND7,500-7,600 per kilo and 25% broken rice at VND7,250 -7,350 per kilo, depending on locality.
