Suffering from many wars and even famine, Vietnam has gradually developed the supply of many agricultural products. Nowadays, Vietnam can not only supply the domestic market but also became a major exporter of white rice.
Vietnam is regarded as the second-largest exporter of rice in the world, accounting for 15% of the global market. The markets of exported Vietnamese rice spread over 160 countries, including the EU, US, and Japan.
In the first 11 months of 2020, the export value of white rice is over 32.5% of the total turnover; jasmine rice and fragrant rice is 32.9%; sticky rice is 29.6%; japonica rice and Japanese rice varieties is 4.8%.
White rice is mainly imported by the Philippines (53.7%), Cuba (23.5%), and South Korea (7.7%) while Jasmine rice and fragrant rice are imported by Ivory Coast (31.8%), Ghana (12.8%), and the Philippines (11.3%). China is the largest importer of Vietnamese glutinous rice with the import value of 87.9%, followed by Indonesia and the Philippines. Japonica rice and Japanese rice are majorly consumed by the market of japonica rice and Japanese rice.
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Here are some factors contributing to the striking development of Vietnamese rice on the global market.
Since 1200 BC, the Vietnamese had cultivated rice and developed the civilization of wet rice. Throughout history, Vietnamese have gradually improved the cultivation techniques and supplied a vast majority of rice for not only domestic but nowadays for global markets as well.
In addition, in 2020, Vietnam was listed in the top 5 largest rice producers in the world with 42.69 million tons of rice yielded and had 3.760 million ha of the national area for rice cultivation.
In comparison with other competitors like Thailand, India, the price of Vietnamese rice is currently very favorable. The price of Vietnam’s 5% broken rice for export on the world market is $438-442/ton, increased by $5/ton. The price of 25% broken rice is $413-417/ton, 100% broken rice reaches $338-342/ton. Similarly, other types of rice in Vietnam also increased by approximately 5 USD/ton.
In comparison with the previous period, Vietnamese rice export to China has witnessed a remarkable increase of 58.3% in volume and 49.7% in value. Likewise, the volume of Vietnamese rice export to Cuba increased by 127.5%, the Ivory Coast increased by 121.1%, Saudi Arabia increased by 112%, and Australia increased by 66%.
EU-Vietnam Free Trade Agreement (EVFTA), Vietnam-EAEU free trade agreement, tightening management of specialty rice varieties ST25, ST24 are some of the many policies that the government had to support the Vietnamese rice export.
Here is a complete process of Vietnamese rice export:
Step 1: Searching for a reliable Vietnamese rice export company.
Step 2: Negotiating prices and exchanging information.
Step 3: Signing a contract, depositing money, and producing rice.
Step 4: Packaging, loading the goods, and finishing the payment
Step 5: Keeping track of the order and after-sale services
Here are 5 companies well-known for exporting rice from Vietnam:
Northern Food Corporation is a state-owned Vietnamese rice export company established on the basis of reorganizing the enterprises of the Central Food Corporation I and the provinces from Thua Thien Hue onwards.
Southern Food Corporation – Vinafood II has several large factories and warehouses spreading from Da Nang city to Ca Mau, to store and process agricultural products for export.
K-Agriculture Factory is one of the leading Vietnamese rice export companies. With a high-quality process, the factory has a total capacity of 500 tons/day.
For 25 years working in the industry, K-Agriculture Factory has become a prestigious partner of 80 countries.
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Established in 2012, Sunrise Ins Group is among the leading rice export companies in Vietnam. Experienced in the market, Sunrise Ins Group has a great reputation as a good exporter of rice.
Founded in 1976, Angimex is one of the most popular Vietnamese rice export companies. With 35 years of exporting agricultural products, Angimex is now exporting rice to many markets ranging from Europe, America to Asia.