Vietnam likely to export 6.5 million tonnes of rice in 2018

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Vietnam may export 6.5 million tonnes of rice in 2018, according to Deputy Minister of Agriculture and Rural Development Ha Cong Tuan.

High-quality rice accounts for a large proportion of total rice export volume and normal rice makes up less than 20%, Tuan said.

Vietnam shipped 861,000 tonnes of rice abroad in the first two months of this year, earning US$419 million, up 17% in volume and 34% in value compared with the same period last year.

The Philippines was the biggest importer of Vietnamese rice, accounting for 26.9% of the market share. It was followed by China, with 23.5%.

The export price for Vietnamese rise rose from US$435 per tonne in 2016 to US$450 per tonne in 2017 and US$475 per tonne during January-February.

The increase was attributed to the country’s efforts to raise its rice quality.

Vietnam is doing well in increasing rice quality, Deputy Minister Tuan said, suggesting the country focus on improving the brand name of its rice.

Last year, Vietnam pocketed US$2.6 billion from exporting 5.8 million tonnes of rice.

Source: VNA