Photo for illustration

Specifically, this month, rice export volume reached 400,000 tons, valued at USD194 million; bringing the total volume for the first seven months of the year to nearly 3.9 million tons, down 1.4%.

In the first half of the year, the Philippines ranked first among the country’s biggest rice export markets, with a 39.6% share. Vietnam shipped 1.4 million tons, worth USD634.3 million, up 13.3% in volume and up 30.5% in value compared to the same period last year.

Also during the period, markets seeing the sharpest rice export value rise were Senegal (up 19.6 fold), Indonesia (2.8 fold) and China (88.9%). Average export rice price in the six months hit USD487.6 per ton, a year-on-year rise of 13%.

For export categories, white rice made up 39.1% of the total; jasmine and fragrant rice 37.6%; sticky rice 18.7%; and japonica and Japanese rice 4.4%.

According to the latest update information in July 2020 of the US Department of Agriculture, the world’s rice production in 2020 is estimated at 459.2 million tons, down 0.3% from the previous year. Rice consumption is forecast to reach 490.4 million tons, up 1.3% against 2019./.