RICE EXPORT VALUES IN 6 MONTHS UP 18%

According to the Processing and Farm Product Market Developing Bureau (Ministry of Agriculture and Rural Development), the rice export value in the first half of 2020 went up nearly 18% against the same period of the previous year.

As estimated, the rice export quantity in June reached more than 400 thousand tons with the value of USD 207 million, raising the total quantity and export value in the first 6 months of 2020 to nearly 3.5 million tons with USD 1.71 billion, increasing 4.4% in quantity and 17.9% in value as compared to the same period of 2019. In the first 5 months of this year, the Philippines is now ranked the first among the export markets of Vietnam. According to the Processing and Farm Product Market Developing Bureau, the prospect for rice export is opening up after the EVFTA was approved by the National Assembly. As committed, EU favors the quota of 80,000 tons rice/year for Vietnam. After from 3-5 years, the export tariff for all rice-based products will be gradually 0%./.