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Update news vietnam's rice exports
Controversial proposals are reigniting debate on regulatory overreach and testing the country’s commitment to economic reform.
Under the project implemented since 2003, Vietnam sent its experts to Cuba to directly guide Cuban people to change their farming methods, provided training, and donated some specialised agricultural machinery.
As Canada seeks to diversify its supply sources and reduce dependence on a single partner like the US, Vietnamese rice enterprises are presented with a golden opportunity to expand their share in this market.
Vietnam is set to make a groundbreaking entry into the 'low-emission' rice market in Japan, with its first export shipment in June.
New rice export rules are driving up costs for traders with pre-contract storage mandates.
Vietnam exported over 3.43 million tonnes of rice in the first four months of this year, raking in nearly 1.77 billion USD, a 8.1% jump in volume but a 13.3% dip in value from the same period last year.
Vietnamese and Thai 5% broken rice have seen declines of 38-45%, with Vietnam’s prices falling from 680-700 USD per tonne to 390-400 USD per tonne, an unprecedented decrease.
As Vietnam’s rice prices plunge, the Prime Minister has ordered oversight of rice purchases to prevent price manipulation and support farmers.
With demand falling from major buyers like the Philippines and Indonesia, Vietnam is seeking new export markets to maintain long-term sustainability.
Vietnam’s rice export prices have declined, reaching their lowest level in three years.
Vietnam’s rice export price has dropped to a low of $395 per ton, lower than many other Asian countries.
By mid-January, Vietnam had exported 268,700 tonnes of rice, generating nearly 165.7 million USD, up 38.7% in volume and 23.28% in value year-on-year.
After months of record-high prices, Vietnamese rice has entered a sharp decline, dropping below $400 per ton - the lowest price in Asia.
Vietnamese rice prices are nearing a two-year low, raising concerns among farmers as Thai rice claims the title of the world's most expensive among leading exporters.
As Vietnam celebrates its most successful year for rice exports, with nearly $5.8 billion in revenue, late-year price drops underscore the volatility of global markets.
While Vietnam’s rice export prices are the highest in the world, local businesses have prioritized exporting premium-quality rice, importing lower-cost varieties for domestic use.
According to the General Department of Customs, Vietnam’s rice exports had reached 8.05 million tonnes as of November 15, bringing home 5.05 billion USD.
Vietnam sold 800,000 tonnes of rice overseas for $505 million in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tonnes shipped as of the late October, or over 79% of the Philippines' total rice imports.
Despite strong growth in ASEAN markets, Vietnam's rice exports to China have dropped to a historic low, with additional challenges threatening prices.