return icon

Vietnam's rice exports likely to reach US$3.5 billion this year

Vietnam is anticipated to rake in roughly US$3.5 billion from exporting more than seven million tonnes of rice this year, according to industry insiders.
Illustrative image. – File photo 

The export price of Vietnamese rice in November maintained its position as the highest in the world, surpassing that of Thailand.

According to the Vietnam Food Association (VFA), the export price of 5% broken rice stood at US$438 per tonne, up US$10 per tonne, while 25% broken rice was traded at US$418 per tonne, up US$10 per tonne.

Pham Thai Binh, general director of Trung An High-Tech Agriculture Joint Stock Company, said that several demanding markets have chosen Vietnamese rice thanks to the country’s efforts to develop new rice varieties and improve production processes.

He also revealed that his company has signed contracts to supply rice to markets such as Europe, America, the Republic of Korea, and Singapore next year.

Meanwhile, Phan Van Co, marketing director of Vrice Co., Ltd., said the export price of fragrant rice in the Middle East and European market has hit US$600 per tonne, while Japonica rice is also being sold at up to US$700 per tonne.

Co attributed the high export price to a decline in the global supply source as a result of a range of factors, including political conflicts, high inflation, the COVID-19 pandemic, and climate change.

Furthermore, China, a major rice exporter, has limited its exports due to the adverse impact of the COVID-19 pandemic.

Moreover, India has recently banned the export of broken rice and restricted exports of white 5% broken rice, a move which has also served to push up the export price of Vietnamese rice.

Co anticipated that the price of Vietnamese rice in the coming months would stay high and would continue to increase.

Experts said following the enforcement of free trade agreements (FTAs), Vietnamese rice exporters are expected to enjoy incentives and seize upon the opportunities to compete with regional rivals such as Thailand, Cambodia, and Myanmar.

According to the Ministry of Agriculture and Rural Development, Vietnam exported over six million tonnes of rice worth US$2.9 million during the initial 10 months of the year, up 17% in volume and 8% in value year on year.

Most notably, rice exports to demanding markets such as the United States and the EU recorded high growth, with respective rises of 85% and 82%.

Experts suggested Vietnamese enterprises develop rice brands and strengthen connectivity in order to maintain the high export price in the international market.

Source: VOV


Ngoc Linh ginseng helps Central Highlands locals out of poverty

Growers in the Central Highlands provinces dreamed of escaping poverty when they planted Ngoc Linh ginseng which has made an economic contribution to improving local farmers’ living conditions.

Soc Trang’s Khmer pagoda features giant Buddha statue

With the long-standing bonds of the Kinh, Khmer, and Hoa ethnic groups, Soc Trang boasts a special cultural identity that makes it an outstanding spiritual destination for tourists and Buddhist followers from far and wide.

Smart-homes getting cheaper in Vietnam

In Vietnam, a smart-home installation package costs VND14-25 million.

Vietnamese nationals account largest proportion of Japan’s foreign worker population

Vietnamese nationals account for 25.4% of the total 1.82 million foreign workers who were working in Japan as of the end of October last year, according to the Japanese Ministry of Health, Labour and Welfare (MHLW).

Mekong Delta develops more OCOP products

The Cuu Long (Mekong) Delta’s 12 provinces and the city of Can Tho are developing more products under the country’s “One Commune-One Product” programme.

Major Vietnamese paintings worth millions of dollars at global auctions

2022 represented a successful year for the Vietnamese painting market as three more pieces were auctioned at more than US$1 million each, bringing the total number of valuable paintings to 19. Let’s take a closer look at some of them.

Vietnamese American singer brings Tet Holiday joy to disadvantaged children

In hope to bring the children who lost their parents because of Covid-19 a warm spring holiday, Vietnamese American singer Ha Phuong spent a day to enjoy Tet with them.

How will the economy fare in 2023?

Vietnam’s economy had a prosperous year in 2022 with GDP growth rate of 8.02 percent, a one-decade high.

Female Vietnamese badminton star Thuy Linh placed 50th in world rankings

Vietnamese badminton star Nguyen Thuy Linh has risen to 50th position in the world’s latest singles women rankings, according to the Badminton World Federation (BWF).

Phin Ho ‘shan tuyet’ tea –specialty of Ha Giang

Apart from stilt houses and seemingly endless terraced paddy fields, “shan tuyet” tea, a famous specialty of Phin Ho village, is one of the special things visitors cannot forget once setting foot in Tay Con Linh Mountain in Ha Giang.

Discovering art of making vegetarian dishes in Tay Ninh

Religions and beliefs have made considerable contributions to the culinary culture of Tay Ninh.

Hoi An, HCM City among world's top 25 trending destinations in 2023: TripAdvisor

Germany’s famous travel site has run an article highlighting the world’s top 25 trending destinations for 2023, including Vietnam’s Hoi An ancient city and Ho Chi Minh City, recently voted by readers of TripAdvisor.

Make-in-Vietnam sleeping machine developed by professor

FRENZ Brainband helps users have faster, tighter and deeper sleep. It can also be used for relaxing and enhancing concentration when working.

Paris Agreement: Lessons on independence, self-reliance, int’l solidarity

The signing of the Paris Agreement on ending the war and restoring peace in Vietnam on January 27, 1973, was a resounding victory of Vietnam’s revolutionary diplomacy in the Ho Chi Minh era.

PM: Lunar New Year comes with new energy

Prime Minister Pham Minh Chinh chaired a meeting of permanent Cabinet members in Hanoi on January 27, speaking of new energy of the nation following Tet (Lunar New Year), the biggest festival in Vietnam.