Friday, January 10, 2025 6:34:42 PM - Markets closed
VN-INDEX 1,230.48 -15.29/-1.23%
HNX-INDEX 219.49 -2.45/-1.10%
UPCOM-INDEX 92.15 -0.94/-1.01%
Việt Nam's rice exports to Senegal remain low compared to demand
Vietnam News - 3/15/2024 2:46:33 PM
 (0 ratings. You must sign in to rate.)
 Despite being one of the primary supply sources for Senegal – a country with one of the highest per capita rice consumption rates in West Africa, Việt Nam's rice exports to this nation remain modest.
 
According to the Việt Nam Trade Office in Algeria and Senegal, Việt Nam shipped 12,000 tonnes of rice to Senegal in 2023, resulting in a turnover of US$5.35 million, up 215 per cent year-on-year. However, the amount is small compared to the African country’s purchase of 1.3 million tonnes of rice in that year.
 
Senegal imports between 900,000 and 1 million tonnes of the grain annually, mostly low-priced 100 per cent broken rice. Its main suppliers include India, Thailand, China, Pakistan, Uruguay, and Việt Nam. Apart from serving the domestic market of over 18 million people, the country also imports rice for re-export to neighbouring ones such as Mauritania, Guinea-Bissau, and Gambia.
 
At the beginning of 2022, facing rising food prices, the Senegalese government implemented measures to maintain purchasing power, including abolishing VAT on imported rice and reducing import duties on broken and regular rice to 2.7 per cent from the previous 12.7 per cent.
 
In the context of scarce supply and Senegal gearing up for presidential elections in 2024, it is likely that the nation will increase imports of broken rice from Asia. — VNS
 
Read original article here
Newer News
16:39 Vietnam, Laos sign cooperation agreements worth billions of US dollars
16:35 Central hub’s airport looks to new growth decade
11:18 Kien Giang focuses on removing bottlenecks to develop key economic sectors
10:57 VN to focus on budget targets and infrastructure projects: Deputy PM
10:52 Vietnam could maintain inflation between 3.5–4.5% in 2025: experts
10:39 Numerous measures to be taken to fulfil 8 per cent growth target in 2025
10:36 Investors keen on bauxite mining projects in Dak Nong
07/01 Viet Nam's GDP growth accelerates to 7.09% in 2024
07/01 Twelve projects to be developed in Saigon Hi-tech Park in 2025
07/01 Vietnam maintains position as RoK’s third largest trading partner
Older News
15/03 Northern power corp’s output up 12.02 per cent
15/03 Controlling shipping line surcharge increases for market stability
14/03 Đà Nẵng tapped to transform into international financial centre
14/03 Vietnamese economy making dynamic shift with robust growth: Hong Kong news site
14/03 Việt Nam's GDP reaches over $430 billion in 2023, fifth most in Southeast Asia
14/03 PM chairs meeting on monetary policies to remove obstacles, promote growth
14/03 MoIT reveals draft of wholesale electricity market circular for public comments
13/03 Coffee price increases in domestic market due to high demand
13/03 Việt Nam's export recovery gains momentum
13/03 Rice sector needs stronger linkage chain
 
Newsletter Signup
Top Stories
Market cautious as liquidity drops significantly
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,230.48 -15.29/-1.23%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
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...
Portfolio
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.