RICE EXPORTS IN THE FRIST 5 MONTHS OF THE YEAR BROUGHT IN 1.21 BILLION USD

According to statistics, in the first 5 months of 2019, rice exports were estimated at 2.83 million tons and 1.21 billion USD, down 4% in volume and 20.7% in value compared to the same period in 2018.

Specifically, the volume of rice exported in May 2019 is estimated at 739 thousand tons with a value of 314 million USD, bringing the rice export volume in the first 5 months of 2019 to an estimated 2.83 million tons and 1.21 billion USD, a decrease 4% in volume and down 20.7% in value compared to the same period in 2018. The Philippines ranked first in Vietnam’s rice export market in the first 4 months of 2019 with 35.9% market share. Rice exports to this market in the first 4 months of 2019 reached 814.5 thousand tons and 320.5 million USD, 4.4 times more in volume and 3.9 times more in value compared to the same period in 2018.

In the first four months of 2019, the markets with a sharp increase in rice export value were Angola (5.2 times); Hong Kong (+91.9%); Ivory Coast (+73.3%) and Russia (+29.3%). The average export price of rice in the first 4 months of 2019 reached 428 USD/ton, down 14.9% compared to the same period in 2018.

On the world market, rice prices have decreased over the past month. In particular, Indian rice prices hit a 7-month low due to weak demand, Thai rice remained unchanged at 400 USD/ton due to low consumption demand and the market is predicted to not have large transactions during this period in short term.

In the domestic market, rice prices in the Mekong Delta region (Mekong Delta) have been stable in the past month. According to the local price supply system, in An Giang, fresh rice IR50404 is maintained at 4,800 VND/kg; OM 4218 rice at 4,800 VND/kg; OM 5451 rice at 5,200 VND/kg; IR50404 rice at 9,500 – 10,500 VND/kg; high quality rice at 13,000 VND/kg; jasmine specialty fragrant rice at 13,500 VND/kg.

In Vinh Long, wet rice IR50404 is at 4,600 VND/kg; Dry rice IR50404 remains at 5,300 VND/kg; IR50404 rice at 12,000 VND/kg; jasmine rice at 14,000 VND/kg.

In Bac Lieu, RVT rice being harvested is priced at 6,000 – 6,500 VND/kg.

In Kien Giang, IR50404 rice is stable at 5,500 VND/kg; OM 4218 rice is at 5,600 – 5,700 VND/kg; OM 6976 rice at 5,500 – 5,600 VND/kg; Jasmine rice is at 6,000 – 6,100 VND/kg.

The Department of Agricultural Product Processing and Market Development (Ministry of Agriculture and Rural Development) predicts that domestic rice prices may decrease next month due to the summer-autumn harvest, causing supply to increase.