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According to the Ministry of Agriculture and Rural Development, exported rice volume in October reached an estimated 368,000 tons, valued at USD164 million; bringing the figure from start of the year to 4.2 million tons, bagging USD1.9 billion.

With these, rice exports saw sharp reductions of 21.2% in volume and 16.9% in value compared to the same period last year, however, average export rice price in the nine months was USD449 per ton, up 4.8% over a year earlier.

Ghana is the second largest importer of Vietnamese rice, making up 11% of market share in the nine months with 387.700 tons, worth USD189.6 million, up 41.8% in volume and up 36.2% in value.

Indonesia imports 359,400 tons of rice from Vietnam, worth USD142.5 million, marking a 21.5-fold increase in volume and 22.5-fold rise in value over a year earlier, while Angola saw 4.4-fold increase in volume and 3.5-fold rise in value.

However, some importers witnessed big declines during the period. Specifically, China, the biggest importer (35.4% of market share) only imported 1.35 million tons of rice, worth USD613.8 million, down 23% in volume and also down 13.9% in value.

Other markets with sharp reductions were the Philippines (47.8%), Malaysia (47.4%), Singapore (34.6%), the US (32%), Ivory Coast (25.2%) and Hong Kong (China) (11.4%)./.

BTA