China continues being Vietnam’s largest export market in 2018

China was the largest rice export market of Vietnam in 2018, accounting for 23.7 percent of the market share, reported the Ministry of Agriculture and Rural Development.
Farmers harvest winter spring rice in the Mekong Delta (Photo: SGGP)
Farmers harvest winter spring rice in the Mekong Delta (Photo: SGGP)

In 2018, Vietnam exported 6.1 million tons worth US$3.04 billion, up 4 percent in volume and 15.3 percent in value over the previous year.

During the first 11 months of the year, white rice export value made up 50 percent of total export turnover, Jasmine and fragrant varieties 32 percent, sticky rice 12 percent and Japonica and Japanese  varieties 5 percent.

Experts said that in 2018 rice export price increased 15-16 percent. Notably, export volume to China much reduced but moved up to other markets such as the Philippines.

In days near Tet holiday, the world export market has been gloomy. Still rice price in the Mekong Delta has been stable compared to many previous years.

Vietnam Food Association reports that traders now pay VND4,600-5,400 a kilogram at rice fields. Dried rice is paid VND4,800-6,400. Of these, long rice price fetches as high as VND6,400 in Kien Giang province, VND300-800 a kilogram higher than the same variety in neighboring provinces.

Early 2019, the Ministry of Agriculture and Rural Development announced Vietnamese logo rice. At the same time, Phoenix Group from Dubai signed an agreement with Vietnamese Loc Troi group to minimize negative impacts from climate change, diseases and natural disasters to rice production.

According to the agreement, the two sides will implement a project to assist 10,000 Vietnamese households to expand sustainable farming scale over 10,000 hectares. The project is expected to bring lot of opportunities for Vietnamese firms to supply high quality rice with trackable origin and chemical residue reduction and to improve income for farmers.