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Export rice price fell by more than 8%

Summary

In the first nine months of the year, rice was still the main export agricultural product of the country, but the average value decreased significantly compared to the same period last year.

Updated on : 27-10-2022

The market share of Vietnam’s main rice export markets. Chart: T.Binh.

According to the latest preliminary statistics of the General Department of Customs, in September, Vietnam exported 583,203 tons of rice, worth US$275.31 million, with an average value of US$472 per ton, down nearly 19% in both volume and turnover, and slightly decreasing by 0.2% in average value compared to August 2022; decreasing by 1.6% in volume and 6% in turnover and 4.4% in average price compared to the same period in 2021.

In the first nine months of the year, the whole country exported more than 5.37 million tons of rice, valued at nearly US$2.61 billion, up 17.7% in volume, up 7.9% in turnover over the same period last year but down 8.4% in the average price to only US$484.9 per ton.

Regarding the export market, the Philippines is still the leader in rice importers of Vietnam, accounting for 46% of the total volume and 43.9% of the total turnover.

Specifically, in the first nine months of the year, the Philippines spent US$1.14 billion to buy 2.47 million tons from Vietnam with an average price of USS$462.9 per ton, rising 35.3% in volume, up 22.2% in turnover but down 9.7% in value on year-on-year basis.

China ranked second with an import volume of 626,012 tons worth a turnover of US$319.41 million and average price of US$510.2 per ton, down 26% in volume and 24.7% in turnover; and slightly rising by 1.8% in average price year-on-year.

The third position belongs to Ivory Coast with an import volume of 546,976 tons, a turnover of US$246.9 million and average price of USS$451.4 per ton, a sharp increase of 94.4% in volume and 71.2% in turnover but decreased 11.9% in average price over the same period in 2021, accounting for 10.2% of the total volume and 9.5% of export turnover.