return icon Vietnamnet.vn

Farm produce sales fall, but rice exports soar

While many agricultural and aquatic products remain unsold because of decreased demand during Covid-19, rice sales have been satisfactory.

The domestic and export rice markets have been very busy in the high harvesting season with selling prices increasing in all segments.

 

{keywords}



In its report to the Prime Minister on March 17 on the 2020 rice production plan, the Ministry of Agriculture and Rural Development (MARD) cited the prediction by FAO that the world’s rice output this year may decrease by 2.7 million tons because Covid-19 has impacted production in some countries, including China and India.

Meanwhile, domestic and international food demand may increase by 3.7 million tons because many countries want to buy rice in large quantities for hoarding. MARD said it may increase the autumn-winter crop area to 800,000 hectares, an increase of 500,000 hectares over the previous year.

Prior to that, the ministry predicted a bumper winter-spring crop and the total output of 28 million tons of rice this year. Of this, 75 percent will be for domestic consumption and 25 percent for export (6.5-7 million tons).

Reports show that in the first two months of the year, Vietnam exported 895,000 tons of rice, worth $410 million, up by 27 percent in volume and 32.6 percent in value compared with the same period last year.

Reports show that in the first two months of the year, Vietnam exported 895,000 tons of rice, worth $410 million, up by 27 percent in volume and 32.6 percent in value compared with the same period last year.


According to Do Ha Nam, chair and CEO of Intimex, deputy chair of the Vietnam Food Association (VFA), all export markets are good because of crop failure and epidemic in Thailand and China. Meanwhile, Vietnamese farmers can overcome drought and saline intrusion, and have bountiful crops which go for good prices.

Phan Xuan Que, chair of Vinafood 1, confirmed that the rice prices increased in all segments though it is now harvesting time, which was rarely seen in previous years. He believes the $3 billion worth of rice export value this year is within reach.

Though export prospects are good, ADC Rice, a subsidiary of ADC Group, said the company will prioritize the domestic market instead of focusing on export.

“We prioritize selling rice in HCM City so that everyone can buy rice. As advised by the HCM City local authorities, we recommend buyers buy rice online or order via phones to avoid contact,” a representative of the company said.

Ngo Ngoc Yen, director of Gao Yen Ngoc, said rice demand is very high and sales are 5-6 days higher than before. The rice price has increased by VND1,000 per kilogram.

“People are trying to store rice because of the fear of the epidemic. However, there is no need to worry about short supply,” she said.

Mai Lan 

 

PM orders suspension of signing rice-exporting contracts

PM orders suspension of signing rice-exporting contracts

Prime Minister Nguyen Xuan Phuc has ordered a halt of signing new rice-exporting contracts, the Government Office said in a latest document concerning this matter.

Vietnam enhances rice, pork price stabilisation

Vietnam enhances rice, pork price stabilisation

The Ministry of Industry and Trade has asked rice traders to strictly maintain a reserve equivalent to at least five percent of their export volume in the six most recent months.

MORE NEWS

Gia Lai province has new Chairman

The Government has confirmed Mr. Truong Hai Long as new Chairman of the Gia Lai provincial People's Committee.

Investors dump shares in panic, VN-Index drops nearly 46 points

The VN-Index officially lost the 1,110-point mark, retreating to the bottom made in February 2021 in the first trading session of October on October 3.

First Vietnam monkeypox case returns from Dubai

The Ministry of Health confirmed on October 3 that a woman returning from Dubai has infected with the monkeypox virus, the first case recorded in Vietnam so far.

Coca-Cola injects US$136 million into Long An plant

Coca-Cola Beverages Vietnam Co., Ltd is poised to start development on a beverage factory with total investment capital exceeding US$136 million in Phu An Thanh Industrial Park of Ben Luc district in the southern province of Long An.

List of 48 websites showing signs of law violation announced

The Ministry of Information and Communications (MIC)’ Authority of Broadcasting and Electronic Information has announced a list of 48 websites showing signs of law violations as of the end of the third quarter.

Secretary of Hai Duong Provincial Party Committee expelled from Party

The Party Central Committee decided to expel Secretary of the Hai Duong Provincial Party Committee and Chairman of the provincial People’s Council Pham Xuan Thang from the Party during the first working day of its sixth plenum in Hanoi on October 3.

VIETNAM NEWS HEADLINES OCTOBER 3

Hanoi seeks UNESCO's recognition for Mo Muong

Seven must-visit destinations in Vietnam for coffee connoisseur

From the 19th century until now, coffee has taken a journey to become an irreplaceable part of Vietnamese culture and life.

Petrol prices fall to over a year record low of VND21,000/litre

Petrol prices tumbled to the lowest level in more than a year in the latest adjustments made on October 3 by the Ministries of Industry and Trade and the Ministry of Finance.

Foreign ODA and concessional loans reach 15.5% of target

Disbursement of foreign official development assistance (ODA) and concessional loans has been slow, achieving only 15.48% of the target, the Ministry of Finance reported.

More foreign visitors to HCMC signals thriving tourist season

Roughly 100 French, American, German tourists traveled to Ho Chi Minh City on French Le Laperouse yacht of Ponant after the last visit in mid-November 2019 signaling a thriving tourist season.

First monkeypox infection detected in HCM City

The Ho Chi Minh City Department of Health has just announced the first reported case of monkeypox in Vietnam.

VIETNAM BUSINESS NEWS OCTOBER 3

2.97 billion USD in FDI poured into HCM City in 9 months

Trendy jobs in Vietnam

New and fashionable professions are being pursued by many young people. But not everyone is succeeding.

Shooting star targets bright future

After the retirement of senior champions, the Vietnam shooting team is now relying on its younger athletes, such as 18-year-old Phi Thanh Thao, who was recently nominated as Best Young Athlete of 2022 at the prestigious Victory Cup.
back_to_top