Thursday, May 26, 2022 9:38:54 AM - Markets open
VN-INDEX 1,267.74 -0.69/-0.05%
HNX-INDEX 313.72 -1.19/-0.38%
UPCOM-INDEX 95.11 +0.33/+0.35%
Vietnamese rice exporters see great opportunities
VietNamPlus - 10/21/2021 3:13:22 PM
 (0 ratings. You must sign in to rate.)
The loosening of social distancing measures and increasing global demand have opened up great opportunities for Vietnamese rice exporters, according to experts.
Statistics from the General Department of Vietnam Customs showed that Vietnam enjoyed growth in rice exports in three consecutive months, with month-on-month rises of 19 percent in volume and 20.5 percent in value recorded in September.
Compared to the same period last year, rice exports in September rose 54.5 percent in volume to 593,624 tonnes with value of 293.15 million USD.
In the January-September period, Vietnam shipped abroad 4.57 million tonnes of rice, earning 2.42 billion USD, down 8.3 percent in volume and 1.2 percent in value. However, the price of Vietnamese rice rose 7.8 percent in the period.
Experts attributed the drops to impacts of COVID-19 to the harvesting and transport of rice in the Mekong Delta region – a major rice bowl of Vietnam. However, they predicted that rice sector will recover fast when the pandemic is controlled.
According to the Vietnam Food Association (VFA), Vietnam is anticipating a great chance to increase exports when a fall is forecast in other rice supply sources such as India and Thailand while the global demand is rising.
Securities firm Mirae Asset Vietnam held that the EU-Vietnam Free Trade Agreement (EVFTA), which has become effective since August 2020, is helping to boost Vietnamese rice exports to the European market.
At the same time, the US Department of Agriculture predicted that global rice consumption in the 2021-2022 crop will rise 1.8 percent year on year, which is coupled with a rise in rice prices.
Thanks to higher prices, Vietnamese rice exporters are expected to enjoy good growth in profits./.
Read original article here
Newer News
25/05 Steel prices cool down as input costs drop
20/05 MoIT stops anti-dumping duties on galvanised steel from South Korea and China
18/05 PM urges US businesses to invest in tourism and trade in Vietnam
16/05 Keeping CPI below 4 pct this year a challenge: Economist
11/05 FDI – bright spot of Việt Nam’s economy amid COVID-19
11/05 Policies needed to support steel industry development
05/05 Gov’t determined to speed up public investment disbursement
05/05 Vietnamese economy to recover fast this year: UNDP representative
04/05 Mixed profit targets for rubber businesses despite price hikes
29/04 Vietnam draws over 10.8 billion USD of FDI in four months
Older News
18/10 Vietnam to join world's top five seafood processing countries by 2030
15/10 More than $10 billion per year to develop the power sources and grid in the 2021-2030 period
14/10 Vietnam likely to achieve rice export target this year
13/10 Tax cut proposed to stabilise domestic petrol price
12/10 FDI inflow into Vietnam still on upturn trend
08/10 Vietnam works towards responsible, sustainable fishery sector
06/10 Vietnam’s GDP growth may reach 8 percent in 2022: DBS
05/10 Foreign investors remain optimistic about Vietnam’s economy: official
04/10 Vietnam strives for GDP growth of 6.5-7 percent annually during 2021-2025
01/10 Vietnam still sees optimistic economic outlook in 2022: scholar
Newsletter Signup
Top Stories
Steel prices cool down as input costs drop
Why the stock market sell-off when VN’s economy is strong?
Shareholders concerned about bank stocks
HoSE to provide odd-lot trading starting from June
SSC prioritises stabilising solutions for stock market
Market Update
Last updated at 9:34:59 AM
VN-INDEX 1,267.74 -0.69/-0.05%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.