In 5 months, rice exports to China decreased by 67.8%

Businesses fear vested interests and a return to a "request-and-grant" mechanism if a floor price for rice exports is implemented. Export rice prices have increased by 20.5% in the past five months.

According to the General Department of Customs, in May 2024, the country exported 856 thousand tons of rice, down 14.6% compared to the previous month. In total, by the end of May, the country exported 4.03 million tons, up 11.2% and the total turnover reached 2.56 billion USD, up 33.6% over the same period last year.

Phó Thủ tướng: Rà soát các thủ tục chuyển nhượng bất động sản hiện có, không được phát sinh thủ tục mới

Rice exports to China decreased by 67.8% in the first five months of the year.

Regarding the market, Vietnam's rice is mainly exported to the ASEAN market with 2.96 million tons, accounting for 73% of the country's total rice volume and an increase of 36% over the same period last year.

Specifically, exports to the Philippines reached 1.83 million tons, an increase of 19.6%; to Indonesia reached 677 thousand tons, an increase of 83.4%; and to Malaysia reached 338 thousand tons, an increase of 82.5%.

In contrast to the strong growth in ASEAN markets, rice exports to the Chinese market fell sharply, reaching only 203,000 tons, a decrease of 67.8% compared to the same period last year.

Previously, according to statistics from Vietnam Customs, in 2023, China was Vietnam's third largest rice importer, dropping one position compared to 2022, behind the Philippines and Indonesia, accounting for approximately 11% of the country's total rice export volume and value...

However, looking back at the period 2017 - 2022, China's rice imports from Vietnam recorded relatively large fluctuations. In 2017 alone, China imported up to 1 billion USD of rice products from Vietnam, but by 2019, the import turnover only reached more than 240 million USD and recovered in the period 2020 and 2021 but has tended to decrease in the past two years.

China's rice import quota has not changed much in recent years. In 2023, the country's rice import quota will be 5.32 million tons, of which the quota for long-grain rice will be 2.66 million tons and short-grain rice will be 2.66 million tons. This number has not changed in recent years.

For many years, China's rice imports have accounted for less than 4% of its total domestic rice production. Of this, some high-quality rice varieties are added to the premium rice market, while some common varieties are used for blending with local rice or processed and packaged under Chinese brands.

Furthermore, China restricts the number of rice businesses allowed to export to the country. Currently, China only permits 21 businesses to export rice to its market out of a total of approximately 161 licensed Vietnamese rice businesses.

Source: https://congthuong.vn/5-thang-xuat-khau-gao-sang-trung-quoc-giam-678-326679.html