return icon

Vietnam still faces rice export difficulties

Vietnam's rice export industry is trying to find new customers as exports to China, the country’s biggest customer, dropped.





Illustrative photo. Vietnam still faces rice export difficulties




The problem was discussed at the review conference about rice export in the first half of 2019 held by the Ministry of Industry and Trade.

Deputy Minister Tran Quoc Khanh said many unfavourable international developments for the local rice export industry had occurred. In the first five months, Vietnam only exported 239,000 tonnes of rice to three major markets including China, Indonesia and Bangladesh, a decrease of 83% compared to the same period last year.

The exports firms had to find other customers and successfully exported 2.76 million tonnes of rice. However, it is forecasted that the industry will have to face many difficulties in the next 16 months.

Statistics from the Export and Import Department showed that in the first five months, Vietnam only exported 223,078 to China which worth USD111.3m, a decrease of 74% on last year, due to high inventory and stricter standards. China was once Vietnam's biggest customer, accounting for 40% of Vietnam's total rice export. However, it has dropped to third place.

China's rice import quota for 2019 was set at 5.32 million tonnes but it is said that only 3.5 million tonnes would be imported, one million tonnes lower than in 2018. In the first four months, China imported 850,000 tonnes, a decrease of 24.4% on last year. China is exporting more rice in the meantime. The total exported rice in the first four months was 829,900 tonnes, an increase of 112.4%.

Bui Thi Thanh Tam, vice head of Vietnam Food Association, said other rice exporters like Thailand and India also considered China a new competitor. After releasing the rice inventory, China may become the world's fifth-biggest rice exporter.

According to Khanh, nine months after a new resolution about rice export was applied, 41 new firms had been granted the certificate of eligibility for rice export business, making it a total 177 rice export firms. However, only 76 firms submitted export activities reports to the Ministry of Industry and Trade and those who failed to comply may have their certificates revoked.

At the conference, the attendees agreed that Vietnam must aim for more diverse customers and improve rice quality. The Ministry of Industry and Trade and related agencies must boost promotional programmes and help firms in developing a brand for Vietnamese rice. Dtinews

Rice production in Vietnam's Mekong Delta took wrong path: expert

Rice production in Vietnam's Mekong Delta took wrong path: expert

While the entire society was still in dreaming of being a rice export power, farmers were realistic, realizing that the higher the yield of rice, the lower profit they would get because of higher fertilizer and pesticide costs.

Rice farmers switch to corn as fresh water supply shrinks

Rice farmers switch to corn as fresh water supply shrinks

Facing water shortages, farmers in the Cuu Long (Mekong) Delta province of Tien Giang have grown corn on nearly 2,000ha of rice fields for the 2018-19 winter-spring crop.

Ninh Bình's river of rice

Ninh Bình's river of rice

Spectacular fields of mature yellow rice line a river dotted with karst mountains, forming a natural painting in the northern province of Ninh Bình, some 90km south of the capital city Hanoi.  


Shelter cares for 20 breast cancer patients in HCM City

No longer allowed to stay in a hospital, a breast cancer patient sold her house to rent and provide a shelter for 20 patients coming from all over the country to Ho Chi Minh City for chemotherapy and radiation treatment.

G&P Global Ratings raises Vietnam’s sovereign credit rating

The S&P Global Ratings on May 26 raised its long-term sovereign credit rating on Vietnam to “BB+” with a “stable” outlook on the back of strong economic recovery, according to the Ministry of Finance.

Domestic airlines offer millions of tickets for summer travel season

Anticipating that travel demand during the upcoming summer will rise sharply, and even higher than the pre-pandemic levels, local carriers are offering millions of air tickets.

American doctor’s endless love for Vietnamese ethnic minority cultures

When listening to him talk for hours and hours about the objects he found by chance on trips to different mountainous regions, it is easy to see Mark Rapoport's passion for the ethnic groups of Vietnam.

Two new Viettel inventions granted exclusive protection certificate in the US

Viettel Aerospace Institute (VTX), a member of Viettel Group, was officially granted an exclusive protection certificate by the US Patent and Trademark Office (USPTO) for two works in the field of optoelectronics and materials industry.

SEA Games 31 fuels recovery of local tourism industry

The hosting of the recent 31st Southeast Asian Games (SEA Games 31) between May 12 and May 23 can be viewed as a golden chance for the local tourism industry to recover after months of little activity due to the impact of the COVID-19 pandemic.

HCM City Mayor shows concerns as doctors turn from ‘heroes’ to ‘violators’

With great efforts in the fight against Covid-19, medical workers have been honored as heroes.

Stopping the licensing of new airlines, restricting the expansion of fleets

Controlling the number of new airlines until the market recovers and restricting licensing to expand fleets in the immediate time are solutions proposed by the State Capital Management Commission (SCMC).

Luxury-tax hike should be postponed until after 2024

Discussing the luxury tax law, experts said it is necessary to design a reasonable taxation roadmap and begin raising the tax only after 2024.

Huge haul in new markets for Vietnam’s tra fish exports

Demand for Vietnam’s tra fish (pangasius) is up in major markets, driving the export of the catfish overseas, reports the Vietnam Association of Seafood Exporters and Producers (VASEP).

Facebook collects money from partners to pay tax in Vietnam

The amount of money Facebook is planning to collect from Vietnamese partners accounts for 5 percent of invoice value. The money will be used to fulfill tax obligations.

Vinh Phuc: Wall collapse kills three people

Three people were killed and another seriously injured in the northern province of Vinh Phuc after a wall of a house collapsed and buried them.

JPMorgan Chase announces fresh capital injection into VN

JP Morgan Chase on Thursday announced a capital injection of US$123 million into its branch entity in HCM City, bringing the firm’s total capital investment into Viet Nam from $77 million to $200 million, or VND4.6 trillion.

Vietnam ready to facilitate long-term business and production of foreign firms

The nation continues to pay close attention to and attaches great importance to improving the investment environment and creating favourable conditions in which foreign enterprises can conduct long-term production business in the country.

Family of four found dead in Hanoi in apparent murder-suicide

Four members of the same family were found dead in an apartment complex in Hanoi's Hoang Mai District.