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This event is open for all professionals interested or currently working in Starups in Hanoi, or supply chai professionals in Hanoi, or who are interested in looking for business collaboration for U.S. market through meeting with a delegation of Baylor University (U.S.), Executive Master Program.

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A firm specialized in Demand and Supply Management in Emerging Markets: We create an impact where it's most needed

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A firm specialized in Demand and Supply Management in Emerging Markets: We create an impact where it's most needed

RICE EXPORT RISE DESPITE STOCKPILING AMID PANDEMIC

2021-01-11 17:16:24

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RICE EXPORT RISE DESPITE STOCKPILING AMID PANDEMIC

 

Rice exports rise despite stockpiling amid pandemic

 

Farmers harvest rice in the southern province of Soc Trang.

 

 

Vietnam’s rice exports grew by 9.3 percent last year to $3.07 billion though it stockpiled the grain to ensure food security after Covid-19 broke out.

 

But volumes were down 3.5 percent to 6.15 million tons since the country stopped exports for over two weeks in March and April to ensure adequate domestic supply amid the pandemic.

 

The average price rose by 13.3 percent from the previous year to $499 per ton, the highest in years, the Ministry of Industry and Trade reported.

 

Vietnamese farmers and exporters are focusing on quality and getting higher prices by meeting import standards in markets like the E.U., South Korea and the U.S., it said.

 

Eighty five percent of the country’s exports last year were considered to be of high quality, according to the General Statistics Office.

 

In 2019, Vietnam was the world’s third largest rice exporter behind India and Thailand with shipments of $2.81 billion. Its biggest buyer was the Philippines.