Vietnamese rice exports in 2018 could hit 6.5 million tonne

Last year, Vietnam shipped 5.8 million tonnes of rice, earning US$2.6 billion.

Vietnam’s rice export volume in 2018 is likely to reach 6.5 million tonnes, an agricultural sector official has stated, citing the strong performance in the first two months of the year.

According to Deputy Minister of Agriculture and Rural Development Ha Cong Tuan, Vietnam shipped 861,000 tonnes during the January-February period, bringing in US$419 million, up 17% in volume and 34% in value.

He added that the Philippines remain the largest buyer of Vietnamese rice, accounting for 26.9%, followed by China with 23.5% of the total Vietnamese rice exports.

In addition to selling a greater volume, Vietnamese exporters also saw higher prices at US$475 a tonne, compared with US$435 in 2016 and US$450 in 2017.

The deputy minister attributed the higher export prices to the better quality of rice.

Currently, high-quality rice, including glutinous, fragrant and jasmine varieties, accounts for more than 80% of Vietnam’s total rice exports.

In 2017, Vietnam shipped 5.8 million tonnes of rice, earning US$2.6 billion.