Log in
Business

Vietnam remains world’s second largest rice exporter in 2021: USDA

There has been a positive shift in Vietnam’s rice export structure towards a focus on fragrant rice products with higher quality and price, stated the country’s food association.

Vietnam is set to remain the world’s second largest rice exporter in 2021 with 6.4 million tons, an increase of 233,000 tons compared to last year.

 Rice packaging for export at Trung An Hi-tech Farming Company. Photo: Vu Sinh

The US Department of Agriculture (USDA) released the latest projected data on its global rice outlook report.

According to the USDA, India is expected to remain the largest rice exporter of the world with 15.5 million tons, representing a surge of 940,000 tons year-on-year, while Thailand could be the third by exporting 6.1 million tons, up nearly 400,000 tons.

For the 2020-2021 period, global rice production is forecast to reach an all-time high of 504.2 million tons, down 0.24 million tons from the previous forecast but up 1% from a year earlier.

In contrast, global rice consumption and residual use during the period is projected to be a record 504.3 million tons, 0.4 million tons less than the previous forecast but eight million tons more than a year earlier.

Countries and territories that are expected to boost their rice imports include the Philippines (up 13%), Cote d’Ivoire (9.1%), Ghana (5.6%), and EU (2.1%). Among them, China would account for the largest amount of rice imports in 2021 with 2.9 million tons, followed by the EU (2.45 million tons), and the Philippines (2.2 million tons), with all of them being Vietnam’s major rice buyers.

In 2020, Vietnam exported 6.15 million tons of rice for US$3.07 billion, down 3.5% in quantity but up 9.3% in value against last year.

For the first four months of this year, Vietnam exported nearly 1.9 million tons of rice for US$1.01 billion, down 10.8% in quantity but up 1.2% in value, mainly due to a 13.4% increase in rice export price, reaching US$534 per ton on average.

The Vietnam Food Association noted there has been a positive shift in Vietnam’s rice export structure towards a focus on fragrant rice products with higher quality and price.

Meanwhile, farmers and rice traders are more focusing on improving rice quality and meeting rules of origin to penetrate highly demanding markets of the EU, South Korea or the US.

Reactions:
Share:
Trending
Most Viewed
Related news
Vietnam promotes low-emission rice to access high-value markets

Vietnam promotes low-emission rice to access high-value markets

As part of its strategy to develop sustainable agriculture and reach premium international markets, Vietnam is advancing the production and export of low-emission rice.

Vietnam stock market set to ride on local cash inflows in June

Vietnam stock market set to ride on local cash inflows in June

The market is expected to continue its rally despite some short-term corrections on lower market confidence.

H&M, Syre Group to expand retail, green textile industries in Vietnam

H&M, Syre Group to expand retail, green textile industries in Vietnam

Swedish companies plan to expand green investment in Vietnam's textile and garment industry.

Vietnam’s AI economy to reach US$130 billion by 2040 

Vietnam’s AI economy to reach US$130 billion by 2040 

The report identified AI as a key driver of Vietnam’s future economic growth.

Hanoi breaks ground on $7.3 million craft village industrial cluster

Hanoi breaks ground on $7.3 million craft village industrial cluster

The new craft village industrial cluster will help ease the shortage of production space for local households and businesses.

Prime Minister calls for Swedish investment in Vietnam’s tech infrastructure

Prime Minister calls for Swedish investment in Vietnam’s tech infrastructure

Vietnam places a high priority on partnering with trusted, long-time friends like Sweden in advancing high-tech sectors, as it seeks to attract quality investment and foster sustainable development.

E-commerce platforms to pay taxes on behalf of sellers 

E-commerce platforms to pay taxes on behalf of sellers 

Under the new rules, a portion of each transaction will be deducted to pay taxes once payment is completed.

French leading corporations propose nuclear power, high-speed rail cooperation in Vietnam

French leading corporations propose nuclear power, high-speed rail cooperation in Vietnam

Top French firms like EDF, Alstom, and Thales are looking to partner with Vietnam on nuclear power, high-speed rail, and aerospace projects.