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The Financial Express

Vietnam's rice export up in 10 months

| Updated: November 13, 2020 15:06:29


Lankabangla and Fianancial Express Lankabangla and Fianancial Express
File photo. (Collected) File photo. (Collected)

Vietnam reaped over 2.6 billion US dollars from exporting nearly 5.3 million tons of rice in the first 10 months of this year, up 8.2 per cent in value and down 4.0 per cent in volume year on year, according to the country's Ministry of Agriculture and Rural Development on Monday.

In October, Vietnam shipped 300,000 tons abroad, gaining 161 million U.S. dollars, down 33.2 percent and 22.5 percent, respectively.

Export prices increased in October as prolonged rains caused flooding in the southern Mekong Delta region, which delayed the harvesting progress and limited supply, local media reported.

The country's major export markets included China, Malaysia and the Philippines.

According to Vietnam's Ministry of Industry and Trade, the country has recently shifted towards exporting more high-grade rice such as Japonica, fragrant rice and sticky rice.

Vietnam normalized its rice export in May after a temporary export ban in March to ensure national food security amid COVID-19.

In 2019, the country sold 6.3 million tons of rice offshore, reaping 2.8 billion U.S. dollars. The country expects to export 6.7 million tons of rice this year, according to the Vietnam Food Association.

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