Vietnam rice exports to the Philippines reach over US$1 billion in 2020

The Phillippines remained the biggest rice importer of Vietnam last year as importing 2.22 million tonnes of rice worth a total of US$ 1.06 billion, marking an increase of 4 per cent in volume and 19.3 per cent in value compared with those of 2019.

The Philippines is a traditional rice consumer of Vietnam. However, last year is the first time that Vietnam rice exports to the country exceeded the $1 billion mark.

Along with the large export volume, the export price of Vietnamese rice to the Philippines also sharply increased last year with an average of US$ 476 per tonne, 14.7 per cent higher than that of 2019.

Last year, Vietnam exported nearly 6.25 tonnes of rice worth US$ 3.12 billion, marking a decline of 1.9 per cent in volume but an increase of 11.2 per cent in revenue compared with those of 2019.

Vietnam rice exports to the Philippines accounted for 35.5 per cent of the country’s total export volume and 33.9 per cent of its total rice export revenue.