Rice Export Price Hits Decade High

1. Rice Export Price Hits Decade High Rice Export Price Hits Decade High Rice has witnessed the highest growth in export value among the products of Vietnam's agricultural, forestry and fishery department. Vietnam’s Rice Exports Rise Vietnam’s Rice Exports Rise In the first five months of 2023, Vietnam's Rice Sellers totaled close to 3.9 million tons, valued at US$2.02 billion, up 40.8% in volume and 49% in value over the same period in 2022, as per the Ministry of Agriculture and Rural Development. This is also the highest growth rate since the same time period in 2013. China, as well as Southeast Asian markets like Indonesia and Singapore, are increasing their imports of Vietnamese rice, particularly high- quality rice. The Philippines was Viet Nam's largest rice importer in the first four months, with 1.29 million tons worth US$647.5 million, an increase of 40.6% in volume and 53.4% in value over the same period in 2022. Indonesia increased its purchases by 26 times, over the same period in 2022, among the 15 biggest markets for rice exports. Additionally, rice exports to Europe increased by almost 50%, particularly to the Netherlands, Belgium, and Poland. The Philippines, for example, remains one of the main and traditional markets for rice exports.

2. Vietnam’s Rice Supply Vietnam’s Rice Supply While the purchasing price also rose quickly as a result of the export price, some rice processing and exporting enterprises encountered difficulties because they signed export contracts in advance. Businesses suffer as a result of the disparity in input material prices. Notably, a portion of it is also used to counteract the sharp decline in imported rice for food processing, in addition to the supply that must be maintained to support the following crop. The Viet Nam Food Association claims that the amount of inventory needed to support this year is notably low because 2022 saw an increase in rice exports from Vietnam. Businesses are currently consuming the rice from the winter-spring crop. As a result, the Association predicts that by the end of 2023, rice exports may only amount to 6.3 to 6.5 million tons, down from 2022. If you are a rice importer wishing to buy rice in bulk or a rice exporter willing to Export Bulk Rice, then Tradologie.com is the right platform for you. Tradologie is a transaction-oriented platform that facilitates bulk agro-commodities trade completely from enquiry-to-delivery in a digital manner. The best quality and inspected commodities can be procured at prices which can be directly negotiated with the sellers, thereby giving more margins for both sellers and buyers along with the end consumers, reducing the overall cost of trade. This platform hence grants sellers better access to new global buyers, increasing their overall business orders and profits, as there are no middlemen involved in the trade here. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.