The volume of rice imported within the first 9 months of 2024 has larger to a report top since 2019 till now.
In step with statistics from the Ministry of Agriculture and Rural Construction and the Basic Division of Customs, within the first 9 months of 2024, Vietnam spent just about 1 billion USD to import rice, an building up of 57.3% over the similar duration final 12 months and surpassing general import turnover of 2023.
Chatting with a reporter from SGGP Newspaper at the afternoon of October 2, a consultant of a rice trade stated that uploading rice to Vietnam is commonplace and has been occurring for a few years.
In keeping with information from the Basic Division of Customs, from 2019 till now, Vietnam’s rice import turnover has regularly larger. Particularly, from 465 million USD in 2019, turnover diminished to 320 million USD in 2020, however then larger sharply to 718 million USD in 2021. By way of 2022, this quantity is 689 million USD and continues to extend. to 830 million USD in 2023. Within the first 9 months of 2024, rice imports achieve 996 million USD.
In step with companies within the processing sector, the rationale companies need to import rice to Vietnam is as a result of lately, farmers within the Mekong Delta have progressively deserted the low-quality rice selection (IR50404) to modify to generating low-quality rice types (IR50404). Aromatic rice has top grade, high quality and top promoting value when exported. On moderate, the present export value of this kind of rice is 624 USD/ton (typically for the primary 9 months of 2024, it is a rise of 13% over the similar duration).
In the meantime, imported rice principally makes use of cheap Indian damaged rice to make truffles, noodles, animal feed or brew beer…
The call for for rice to supply vermicelli and truffles may be very top. Representation
Along with India, companies have not too long ago imported rice from Myanmar, Pakistan and Cambodia at decrease costs than home rice. On moderate, Vietnam’s rice export value within the first 9 months of the 12 months used to be 624 USD/ton. In the meantime, rice imported to Vietnam simplest has a worth starting from 480-500 USD/ton.
A consultant of the Division of Crop Manufacturing (Ministry of Agriculture and Rural Construction) stated that the report top building up in rice import turnover presentations that the manufacturing funding call for of processing enterprises may be very huge. “We export excellent rice and import reasonable rice. That also is commonplace,” this particular person commented.
Then again, this 12 months there could also be one more reason: companies expect a lower in summer-autumn rice manufacturing, whilst the fall-winter crop continuously has the bottom output of the 12 months, so it’s tough to compensate. Together with that, crop failure within the North has affected 300,000 hectares of rice, resulting in larger call for for rice imports.
In step with a consultant of the Ministry of Agriculture and Rural Construction, companies selling rice import for processing isn’t associated with meals safety problems. Up to now 9 months, Vietnam has exported greater than 7 million heaps of rice, incomes 4.37 billion USD. In comparison to the similar duration in 2023, the volume of rice exported will building up via 9.2%, whilst the export worth will building up considerably via 23.5%.
In 9 months, Vietnam exported 7 million heaps of rice
Lately, the Indian Executive has had an open-door coverage permitting companies on this nation to export rice once more. Due to this fact, the volume of rice that Vietnamese companies import to make truffles, noodles, and lift cattle might building up when import costs might lower.
It’s anticipated that Vietnam’s rice import turnover might achieve 1.3 billion USD this 12 months.
ANGEL