Rice exports will increase sharply from March

“Vietnam's rice exports in 2022 will still be guaranteed from 6 - 6.2 million tons, equivalent to 2020 and 2021, although the export price of rice in 2022 may not reached the same peak as the previous year,” forecasts The Vietnam Food Association (VFA).

Experts predict that rice exports are likely to increase from March 2022, when the winter-spring is fully cropped.

Rice exports in 2022 are forecasted to continue to maintain a good rank because Vietnam's rice industry is increasingly improving in quality (the proportion of fragrant rice increases, rice yield is improved). Large enterprises such as Loc Troi, Tan Long, Intimex, Trung An, etc, continue to receive large orders with high value from their partners.

According to the Ministry of Industry and Trade, stable rice export prices and outstanding quality have created advantages for Vietnam's rice exports right in the first month of 2022. Data from the General Department of Customs (Ministry of Finance) shows that Vietnam's rice exports in January 2022 reached 505,741 tons, worth US$ 246.02 million, up 45.4% in volume and 28.2% in value over the same period last year.

The average export price of rice in the first month of 2022 was US$ 486.5 per ton, down 11.8% over the same period last year. Rice exporters said that due to the high cost of transportation as well as the cost of renting empty containers, businesses actively reduce prices to share difficulties.

In the first month of 2022, the Philippines is still a sustainable and traditional market, leading in terms of rice imports from Vietnam, accounting for 11.8% of the total volume and 9.5% of the total rice export value. of the whole country; reached 234,050 tons, equivalent to 110.21 million USD. The average price was US$ 470.9 per ton, a sharp increase of 54.4% in volume, up 46.6% in turnover.

The Chinese market has left the second position, giving way to Ivory Coast. This African country brought in a turnover of US$ 23.38 million, with an output of 56,675 tons, up 252.5% in value and 424% in volume over the same period last year.

The Chinese market fell to third place, reaching 37,006 tons, equivalent to US$ 18.99 million, down 36% in volume and 37% in value over the same period last year.

Some other markets such as Malaysia in January 2022 reached 34,925 tons, equivalent to US$ 16.07 million, a sharp increase of 104% in volume and 67.5% in value over the same period in 2021.

In the early days of 2022, Vietnam's export rice price was flexibly adjusted by traders up or down by about US$ 5 per ton to match the situation of rice exports in the world.

Currently, the price of Vietnam's 5% broken rice exports is at US$ 393 – 397 per ton, 25% broken rice costs US$ 373 – 377 per ton, and 100% broken rice costs US$ 328 – 332 per ton.

Compared with Thai rice, the prices of Vietnam's 5% broken, 25% broken and 100% broken rice varieties are US$ 19, US$ 24 and US$ 49 lower respectively.

Compared with Indian rice, the export price of Vietnamese rice is 50 USD (5% broken rice) and 28 USD (25% broken rice) higher.

Compared to Pakistani rice, Vietnamese rice is 45 USD higher (5% broken rice and 25% broken rice) and 15 USD higher (100% broken rice).

The biggest difficulty of the rice production industry is still the price of agricultural materials such as fertilizers and pesticides increasing too strongly in 2021, especially for fertilizers, which have established a new price level. This greatly affects the income of rice farmers.

Deputy Minister of Agriculture and Rural Development Tran Thanh Nam said that the agricultural sector is piloting the establishment of a raw material area of ​​50,000 hectares of rice in An Giang and Kien Giang, meeting export standards, being granted a planting area code and associated with a chain of linkages for consumption. Currently, An Giang and Kien Giang are the two provinces with the leading rice production in the country, with volume of over 4 million tons in each province.