The US increases rice imports from Vietnam

Friday, 05/08/2022 11:49
Vietnam exported nearly 4.2 million tons of rice in the first seven months of 2022, up more than 20% over the same period last year, in which the US market saw the sharpest increase with more than 65%.
 The US increases rice imports from Vietnam. (Photo: VNA)

Statistics of the authorities show that, in the 7 months, rice exports reached 4.19 million tons, valued at more than 2 billion USD, up 20.5% in volume and 9% in value over the same period last year.

Among Vietnam’s rice import markets, the US saw the sharpest growth with 65.3% in the first half of the year. It was followed the Philippines, Vietnam's largest rice consumption market, accounting for a 44.5% market share, up 48.6% year on year.

In the first half of the year, the world’s export rice price averaged 489USD a ton, down 10.2% year on year. Vietnam’s 5% broken rice was priced at 415-420USD a ton. Exporters have reduced rice purchases from farmers. They are waiting for the peak harvest and signals from major markets such as the Philippines and China.

Currently, rice prices in the Mekong Delta provinces have many fluctuations. Stormy weather caused the quality of summer-autumn rice to decrease continuously, while the area of ripe rice is increasing in localities.

Compared with the beginning of July, prices of all kinds of rice decreased from 200-400 VND per kg due to bad weather affecting rice quality and weak demand./.