Vietnam has exported approximately 890,000 tonnes of rice worth US$420 million in the first two months of 2020, an increase of 27% in terms of volume and 32% in terms of value compared to the same period in 2019.
Notably, the price of Vietnamese 5% broken rice has increased to US$380 per tonne, a record high since December 2018.
While exports of a number of agricultural products have faced difficulties due to the impact of the Covid-19 epidemic, Vietnamese rice exports have seen sharp increases in both quantity and value, according to the latest statistics from the Ministry of Agriculture and Rural Development (MARD).
Deputy Director of the MARD's Department of Crop Production Le Thanh Tung said that the rice export rise was due to timely supply coinciding with increasing demand in many markets, pushing up domestic prices of rice.
According to agricultural expert Vo Tong Xuan, Thailand, the second largest rice exporter in the world is suffering big losses due to saline drought. Rice production in Thailand has decreased by nearly two million tonnes.
Vietnam has also been affected by saline drought but only a small area of about 28,000ha. Thus, Vietnam remains a plentiful supplier of rice.
In addition, the Philippines and Indonesia are facing rice shortages and have had to import a huge volume from Vietnam.
The demand for rice reserve is increasing in many countries, particularly China, creating opportunities for Vietnam to boost rice exports, Xuan noted.