BNEWSWith rice export volume in the first 4 months of 2024 reaching over 3 million tons, the remaining capacity for May and June will exceed the expectation of the Ministry of Agriculture and Rural Development.
On April 26, in Can Tho city, the Ministry of Industry and Trade coordinated with the Ministry of Agriculture and Rural Development and Can Tho city to organize a conference to evaluate rice export results in 2023, the first quarter of 2024 and discuss rice export direction in the near future. Based on the rice import and export markets of other countries, Mr. Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, commented: Vietnam’s rice export market continues to be vibrant and expanded.
“According to data from the Ministry of Agriculture and Rural Development, it is expected that in the first 6 months of 2024, rice exports will reach 4.3 million tons. However, rice exports in the first 4 months of the year will reach over 3 million tons. tons, the remaining capacity for May and June will exceed the expectation of the Ministry of Agriculture and Rural Development. With a very positive export situation, Vietnam’s rice export capacity in 2024 exceeds the original plan (7.6 million tons)”, Mr. Nam commented.
According to Mr. Le Thanh Hoa, Deputy Director of the Department of Quality, Processing and Market Development (Ministry of Agriculture and Rural Development), the global rice supply is forecast to no longer be abundant when the main supply accounts for up to 40 million. % of global output in India will decrease by 4 million tons compared to the previous crop year, to only 132 million tons; Other markets such as the Philippines, Indonesia, Thailand, Cambodia… are also forecast to reduce output due to the impact of the El Nino phenomenon and climate change.
Global rice production in the 2023-2024 crop year will reach nearly 518 million tons, while total consumption is 525 million tons. It is forecasted that the world will have a shortage of about 7 million tons of rice in 2024. This creates opportunities for rice exporting countries; including Vietnam. In 2024, Vietnam can meet the supply to export rice equivalent to 2023 (8.13 million tons) but still ensure food security.
Vietnam’s rice export output in 2024 is still mainly concentrated in the Mekong Delta provinces. The total volume of rice goods for export in the Mekong Delta provinces in 2024 is estimated to reach about 7.6 million tons; Of which, high quality rice group is about 3.2 million tons; Fragrant and specialty rice group reached 2.5 million tons; The average quality rice group reached 1.15 million tons; sticky rice group reached 0.75 million tons.
According to Deputy Director of the Department of Quality, Processing and Market Development Le Thanh Hoa, the country is currently entering the end of the Winter-Spring crop, the largest crop in the Mekong Delta provinces, with abundant output, serving good for rice export activities. In addition, import demand from markets around the world is still forecast to be higher than total global supply, so export rice prices are still expected to increase.
Besides opportunities, Vietnam’s rice export activities in 2024 are assessed to still have many potential challenges: the rice export market still shows signs of being unsustainable, depending on a number of key traditional markets. such as the Philippines, China and Indonesia; Market development work has not been supported commensurate with the industry’s potential.
Therefore, Deputy Minister of Industry and Trade, Phan Thi Hang requested relevant ministries and branches; Localities, the Vietnam Food Association and rice export traders absolutely ensure national food security in all situations, stabilizing the domestic market. At the same time, take advantage of opportunities to promote rice export in possible conditions to bring the highest value and efficiency to producers and businesses, ensure sustainable and effective rice export, and contribute to protecting rice exports. ensure global food security.
Localities and traders closely monitor seasonal conditions and world market developments to have appropriate production, purchasing, processing, storage, preservation and export plans, ensuring efficiency and deadlines. minimize possible risks.
Establish and strengthen a close and effective cooperation mechanism between rice traders and exporters, growing regions, producers and between traders to ensure a stable, quality source of goods and avoid competition to buy, compete to sell, compete in the market, and pressure on levels and prices. At the same time, focus on expanding and diversifying rice export markets, affirming and enhancing the Vietnamese Rice brand in the international market, especially in new markets with much potential.
Deputy Minister Phan Thi Hang also requested the Ministry of Agriculture and Rural Development to direct the Department of Agriculture and Rural Development of localities to pay attention to ensuring suitable land areas for rice cultivation; Continue to promote restructuring of the rice industry towards improving quality and efficiency.
The Ministry of Agriculture and Rural Development proactively monitors the situation and promptly captures information to provide complete and accurate information on rice market developments and provide guidance and recommendations to localities, businesses and consumers. Farmer households strictly comply with regulations on standards, regulations, quality, and regulations of the import market to proactively build and adjust appropriate production and business plans, ensuring adequate supply. domestic consumption and export services, stabilizing market prices.
At the same time, preside and coordinate with the Ministry of Industry and Trade and relevant ministries and branches to monitor, negotiate, and remove technical and plant quarantine barriers that partners apply to exported rice. Vietnam’s exports; proactively negotiate and sign agreements and agreements on plant quarantine and technical regulations on paddy and rice quality to create favorable conditions for Vietnamese rice exporters;…
By the end of the first quarter of 2024, Vietnam’s rice exports reached over 2.18 million tons, with a value of nearly 1.43 billion USD (average price 653.9 USD/ton), an increase of 17.6% in volume, increase 45.5% in turnover and increase 23.6% in price compared to the first quarter of 2023.
Vietnam’s rice exports in the first quarter continued to dominate key markets with large consumption demand for output. In particular, the Philippines is still Vietnam’s largest rice import market, accounting for 46.4% of the total volume and 45.5% of the country’s total rice export turnover, reaching over 1.01 million tons, equivalent to equivalent to nearly 649 million USD, the average export price reached 641.7 USD/ton, up 13.2% in volume, up 44% in turnover and up 27.3% in price compared to the same period in 2023.
Some types of rice exported in the first quarter of 2024 are still popular in the market: fragrant rice of all kinds (ST24, ST25, DT8, Ham Chau, Nang Hoa…) jasmine rice, japonica rice, 5% white rice. …
