In August 2021, Vietnam exported a total of 440 tons of rice, equal to 210 million USD. For the whole eight months of 2021, rice export reached 3.93 tons, with a turnover of 2.1 billion USD. This number is a decrease of 13.4% in quantity and 5.5% in value compared to the same period last year. re-export- parts of rice mill machinaryrubber rollers for dehusking rice hardness:92,size:10x10 inch,vide be no.3377508 : 400 : PCS : 24.72 : 9886.73 : ho chi minh city : vietnam, democratic rep. of: 28-Jun-2016: chennai sea: 84379020 : re-export- parts of rice mill machinaryrubber rollers fordehusking rice hardness:92,size:10x10 inch,vide be Minh-Ngoc Nguyen. In 2021, the volume of rice exported from Vietnam reached 6.2 million metric tons. Rice production plays an important role in the agriculture sector of Vietnam, as rice is a B. Vietnam exports a lot of rice, that is mainly grown in the south of the country. C. Vietnam exports a lot of rice grown mainly in the south of the country. D. Vietnam, which is grown mainly in the south of the country, exports a lot of rice. Đáp án C. Dịch: Việt Nam xuất khẩu rất nhiều gạo. Nó được trồng chủ yếu Vietnam's largest rice export market during the period was the Philippines, with the exports to the country rising by 110 percent in volume and 82 percent in value. It was followed by China with Bl0wqAB. ABSTRACT The article presents the current situation of the export rice industry as well as the market structural changes of Vietnam's rice exports between 2010 and 2020. By analyzing the process of changing the structure of rice exports by value and market, it is obvious that Vietnamese rice has progressed quite quickly in structural changes of varieties towards quality rice and fragrant rice, diversifying export markets. However, Vietnamese rice does not have a brand name has a small market share in the world's value markets the United States, Germany, Japan, etc., and remains in the middle and easy segments whose market shares tend to decrease in the main markets China. Thereby, the article offers some policy implications for Vietnam's rice export industry in the coming time. Keywords rice, export, market structure, Vietnam. CURRENT STATUS OF VIETNAM'S RICE EXPORT INDUSTRY From a country lacking in food, currently, rice production in Vietnam has met the needs of domestic consumption and has become an exporter of rice from 1989 onwards. Between 2010 and 2020, Vietnam's rice exports reached an average of over million tons, equivalent to about 20% of production output. Currently, Vietnam belongs to the group of three largest rice exporters in the world. Export volume and value For three consecutive years 2010-2012, Vietnam's rice exports continuously broke out to break their own records Table 1. In 2010, the export volume of rice reached million tons, accounting for 22% of the world's total rice exports. In 2011, rice exports reached million tons. By 2012, Vietnam surpassed Thailand million tons in rice export volume and ranked second in the world, after India million tons, reaching 8 million tons, worth US$ billion. However, in terms of export turnover, among the three largest rice exporting countries in the world today, Vietnam ranks last. Rice export turnover of India, Thailand and Vietnam this year respectively is US$ billion, US$ billion and US$ billion. In 2012, the price of rice in the world market declined sharply, causing the export price of Vietnam's rice to decrease to US$458/ton compared with US$514/ton in 2011. According to the Ministry of Industry and Trade, in 2014, the export price of Vietnam’s rice tends to increase, reaching US$464/ton, because Vietnam has exported a large amount of rice to the Philippines, Malaysia and Indonesia, and at the same time, still maintains a high growth rate level of exports to China even during a tense period in the East Sea. In 2016, the world and regional rice markets continued to compete fiercely, with many unfavorable developments for Vietnam's rice exports, reaching only nearly million tons, worth US$ billion, a decrease of nearly in quantity and in value compared to 2015. However, with many innovations in management, rice exports in 2017 reached million tons, up % compared to 2016, and the value reached about US$ billion, up In 2018, the volume of rice exports reached million tons with a turnover of US$ billion, up in volume and in value compared to 2017. The average rice export price reached about approximately US$501/ton; an increase of US$48/ton compared to the average price in 2017. The export structure gradually increased with high quality and high-grade rice, so the average export price increased. Rice exports with increasingly diverse products such as long grain rice, short grain rice, fragrant rice, Japonica rice, sticky rice, etc. In 2018, Vietnam continued to be the world's third largest exporter after India and Thailand. In 2019, rice exports reached nearly million tons, worth US$ billion, up in volume but down in value compared to 2018. In the context of a difficult market, Vietnam's rice exports still maintained an increase in volume, however, the average export price was at US$441/ton, down 12%, equivalent to a decrease of US$60/ton. Vietnam's rice exports in 2020 even in the context of COVID-19 still reached million tons, worth US$ billion. Although the amount of rice exported decreased by about compared to 2019, mainly because of the goal of ensuring national food security, the export value increased by The average export price for the whole year reached US$499/ton, up compared to 2019. This is the high average price in recent years, bringing great benefits to rice farmers. However, the value of Vietnam's rice exports is on a decreasing trend over the years. On average, in the last five years from 2016 to 2020, rice exports are at million tons/year with a value of about US$ billion. While the average of 5 years in the period before 2010-2015, the volume of rice exported reached nearly million tons/year with a value of about US$ billion/year. Thus, Vietnam's rice industry has begun to tend to approach the limit in terms of production capacity, as shown by the decreasing growth rate both in volume and turnover, while the agricultural land area is decreasing gradually, further narrowed by the rapidly increasing urbanization process and the negative impacts of climate change. Export market share Vietnam's rice market share in the world market in recent years has been relatively stable at 12 - 15% in terms of value Table 2. Export volume compared to the world, ranked third in the world in terms of rice export volume in the period 2015 - 2019. The years 2015, 2017, and 2018, show the solid position of Thai rice export in the world market with the market share is twice as high as that of Vietnam. But after 2018, the gap of market share between Vietnam and Thailand is shrinking. Besides Thailand, India is gradually affirming to the world about its rice export capacity. India's rice export volume has grown strongly in recent years, twice as much as Vietnam and is the largest rice exporter in the world. The United States has also ranked in the list of 10 major rice exporting countries in recent years. The market share of US rice exports fluctuated relatively stable over time with a range of 6 - 8%. China's rice export market share has declined rapidly from in 1999 to in 2013 because of changes in the country's economic development strategy. China has become a major rice importer in the world with the volume of imported rice constantly increasing over the years. Currently, China's rice export market share increases from 1% in 2015 to 5% in 2020. Currently, Vietnam's rice export market is relatively diversified. Vietnamese rice is present in all five continents, in which the main focus is Asia in 2020, even during the COVID-19 impacting period, Vietnam’s rice accounted for of total exports volume and gradually penetrated into difficult markets such as Australia, Germany, Japan, the United States, etc. MOIT, 2021. Although the export scale in these markets is still modest, combined with the fierce competition of strong competitors such as Thailand, these new markets are considered a reasonable direction for Vietnam's rice industry. STATUS OF RESTRUCTURING RICE EXPORT OF VIETNAM 2010 - 2020 The process of changing the structure of rice export by value Regarding the export price of rice For a country, high or low export prices not only affects export turnover but also shows the development level of the domestic production industry. In 2011, the average export price of Vietnam's rice was highest at US$514/ton, while the average price of Thai rice was US$608/ton. 2012 is considered to be the year when the world market's rice supply is quite abundant, the competition between suppliers is very fierce, the average export price of Thai rice continues to increase reaching US$688/ton, while the average export price of Vietnam's rice dropped to US$458/ton. In 2013, the average export price of rice from Thailand and Vietnam both decreased, however, the rate of decrease of Vietnamese rice price US$444/ton was lower than that of Thailand US$668/ton. Faced with this reality, Vietnam's rice industry needs a structural change in the industry itself, focusing on investing in and applying modern science and technology to improve export quality and competitive rice varieties. Vietnam's average rice export price in 2018 reached the highest level from 2013 - 2018, reaching US$501/ton, high rice price contributed to boosting rice exports in 2018 in both volume and export value, an increase of and respectively compared to 2017, reaching million tons and US$ billion Table 1. 2016 was the year with the lowest export volume and turnover with million tons and US$ billion, much lower than the average of the whole period, down nearly in volume and decreased by in value compared to 2015. It can be said that 2016 was an unsuccessful year in Vietnam's rice exports, exports decreased in most markets and all major markets such as China, Philippines, Indonesia, and Malaysia. One of the reasons for this situation is the delay in Vietnam's rice export policy, while competitors have changed rapidly. Specifically, Thailand has announced to discharge its rice reserves for export, India has won many rice export contracts with the Governments of major countries such as China, the Philippines, and many Middle East and African countries. The advantage of cheap rice prices, good quality of India becomes a great pressure for major rice exporting countries such as Vietnam and Thailand. 2016 is a year which marked a milestone in terms of competition for export rice in the international market, which is comprehensively expressed from volume, quality to brand in the market. In addition to major rice exporting countries such as Vietnam, Thailand, and India, many countries have emerged that have joined the group of rice exporting countries such as Cambodia, Laos, Myanmar, etc. These are new competitors with high quality and branded rice products start to export to high quality markets. However, with many innovations in production and value chain management such as the small farm-large field, linkage cooperative-export enterprise, Vietnam's rice exports in 2017 reached million tons, an increase of compared to 2016, worth about US$ billion, an increase of 18%. The average FOB export price stood at US$453/ton, up equivalent to an increase of US$4/ton compared to the 2016 export price. Compared with Thailand, the price of Vietnamese rice is always lower than that of Thailand in the same category Table 3. Statistics from the United States Department of Agriculture USDA show that the price of Vietnamese rice exports in the period from January 2016 to September 2019 is always lower than the price of Thai rice. However, since the beginning of October 2020, the price of Vietnamese rice has been slightly higher than the price of Thai rice. The reason for this situation is that Vietnam's rice supply is limited and transportation costs increase, while Thailand's rice supply increases thanks to favorable weather conditions. The higher price of rice compared to other leading rice exporting countries in the world is a disadvantage for Vietnam. Regarding the quality of exported rice From 2010 to 2017 there was a change in the structure of rice exports in the direction of positively Figure 1, increasing the proportion of sticky rice, fragrant rice and reducing the proportion of low- and medium-grade rice. The share of low-quality white rice exports decreased from in 2010 to in 2015 and in 2017; Average quality white rice also decreased from in 2010 to and in 2015 and 2017 respectively. The export proportion of fragrant rice and sticky rice had a remarkable growth, increasing from in 2010 to in 2015 and in 2017 for sticky rice; increased from in 2010 to in 2015 and in 2017 for fragrant rice. Thus, the structure of rice exports has tended to shift towards increasing the proportion of fragrant rice and high-grade rice in the 2010-2015 period. And in this market segment, Vietnam has to face increasing competition from neighboring Cambodia. From 2018, sticky rice exports faced difficulties due to changes in import tax rates of the Chinese market, the structure of sticky rice exports decreased from 22% in 2017 to 5% in 2019. In 2019, among exported rice, White rice accounts for the majority, with 57% of Vietnam's rice export volume, the white rice market of Vietnam is Asian countries. Next is fragrant rice, contributing 32% to the structure of rice exports, with the main market being African countries. Even the demand of fragrant rice in the US and EU is increasing, but Vietnam’s fragrant rice is not yet attended the food safety standard of these markets, dominating by Thailand and India fragrant rice. In 2020, the export value of white rice accounted for of the total turnover, reaching million tons; jasmine and fragrant rice accounted for reaching million tons; broken rice accounted for reaching thousand tons; sticky rice accounted for reaching thousand tons; japonica rice and Japanese rice varieties accounted for As shown in Figure 2, the price of Thailand's export rice is always higher than that of Vietnam's rice in the same category as glutinous rice, in particular, the price of Thailand's Hom Mali fragrant rice is much higher than the price of Jasmine or Dai fragrant rice of Vietnam at the same time. In June 2019, the price of Thai Hom Mali rice was US$1,088/ton, Thai sticky rice was US$930/ton, while Vietnam's sticky rice price was US$485/ton, Dai Thom 8 rice was US$436/ton, and Jasmine rice is US$475 /ton. The reason why Thailand always sells at a higher price than Vietnamese rice is thanks to the brand name. Thai Hom Mali rice is a branded rice that has won the top prize 6 times since the World's Best Rice contest organized by The Rice Trader. Vietnam has many types of rice with the same quality as other countries, but information about these types of rice is still unknown to the world market because they do not have the name "Made in Vietnam ''. Vietnamese rice has an advantage in the white and long grain rice market segment thanks to the "cheap advantage," however, this advantage is also facing stiff competition from new rice exporting countries such as Cambodia and Myanmar. The ability to access and compete in markets requiring high quality, especially fragrant rice in Japan, EU, US, Australia, etc. is still very limited. In general, Vietnam's fragrant rice exports are mostly in the middle price segment, so the strongest fragrant rice consumption markets are still African and Asian countries. The goal of improving quality is still the top goal in order to be able to penetrate into difficult markets, bringing higher added value to rice. The process of changing the structure of rice exports according to the market Vietnamese rice has been present in more than 150 countries and territories around the world. Currently, Vietnam's main rice export markets are countries in Asia and Africa, including Philippines, Malaysia, China, Ivory Coast, Ghana, etc. Previously, rice exported to China accounted for 20-30% of the country's total rice exports, with more than 90% being glutinous rice. Vietnam is the largest rice exporting country to China with a turnover of US$616 - 1,022 million, accounting for - of the total rice import turnover of this market in the period 2012 - 2017. In July 2018, China applied many impedances to rice products, introduced stricter requirements on food hygiene and safety, increased the import tax on sticky rice from 5% to 50%, making the costs of rice exports to China increased. In 2020, Vietnam's rice export turnover to China decreased to only US$452 million, with the market share falling to In 2019 and 2020, the Philippine market and countries in Africa will become key markets for Vietnam's rice exports. Looking at Table 4, Vietnam’s rice market through the years can be seen. Vietnam's main rice exports are still China and the Philippines. Vietnam also exports to a number of markets such as the United States, Japan, Australia, etc., but the quantity is not significant. In 2020, Vietnam's rice exports to the United States reached 20,496 tons, down compared to 2016 30,200 tons. In contrast to the United States, the amount of rice exported to Australia and Germany in 2020 increased times and times compared to 2016, respectively, an increase from 9,042 tons to 32,403 tons and 1,812 tons to 8,621 tons. Currently, the proportion of rice exported to the US and EU accounts for a low proportion, partly due to the habit of using more wheat than rice, and partly because Vietnamese rice has not met the strict standards of these markets. In 2020, the rates of rice exports to the United States and European countries such as Poland, the Netherlands and France account for and of the total rice export value of the country, respectively. To be able to enter the EU, US or Japanese markets, Vietnamese rice grains must meet many strict quality standards. Accordingly, rice must ensure traceability with a clear planting area address, must meet GlobalGAP standards or equivalent, and no residues of pesticides, etc. The high-quality requirement of these high-end markets make the proportion of Vietnam's rice exports to these markets relatively small. Vietnamese farmers often abuse pesticides and chemical fertilizers in farming, so there have been a lot of export rice shipments with pesticide residues returned from the US, which has a negative impact on prices sales and reputation in Vietnam's export activities. Contrary to the structure of Vietnam's rice export market, Thai rice is mainly exported to the US, Germany, Japan, etc. with a much higher volume than Vietnam. In 2018, Thailand's rice exports to Germany reached the highest level of nearly 1,698 thousand tons, higher than the amount of rice exported to the Philippines 1,031 thousand tons, accounting for of Thailand's total rice exports. The US market is also an important rice export market of Thailand, reaching 672,183 tons, accounting for of Thailand's total rice exports in 2020. Thus, currently, Vietnam's main rice export market is still China and the Philippines. Previously, the volume of Vietnam's rice exports to China reached 2,162 thousand tons in 2015, however, in recent years, it has gradually decreased to only 762 thousand tons in 2020. This is an opportunity for Vietnam's rice industry to reduce dependence on the Chinese market, towards diversifying markets and exporting better varieties of rice. CONCLUSION AND POLICY IMPLICATIONS Vietnam has been exporting rice for more than 30 years and has increasingly affirmed its position in the world rice export market by improving quality, diversifying types and models as well as ensuring health standards and stable supply. In the period of 2010 - 2020, Vietnam's rice exports have progressed quite quickly in changing the structure of varieties towards quality rice and fragrant rice. In addition, the policy of diversifying the export rice market has also helped Vietnam's rice products access and promote advantages in difficult markets. However, Vietnamese rice still does not have a brand name, occupying a negligible market share in the world's largest value markets the United States, Germany, Japan, etc., still in the middle and easy segments and is losing market share in key markets such as China. Thai rice dominates in higher-end markets such as the EU, the US, Japan, etc. Therefore, the challenge of Vietnamese rice is how to move from the low-end rice segment to building a high-end rice brand. Meanwhile, competition in the premium rice segment is also very tough. Therefore, in order for Vietnam's rice export industry to develop sustainably, stably and modernly, and penetrate high-value rice markets, it is necessary to Continue to maintain the current rice business policy to ensure stability and create a competitive environment. Strengthen policy on new rice varieties 1 Protect plant breeders’ right; 2 Invest in research and breeding to create and improve quality varieties; 3 Organize the production of certified rice seeds of competitive advantage varieties, providing farmers with adequate supplies in the market. Promote the construction and promotion of Vietnam's rice brand by trade promotion programs, promote the promotion of brands of varieties with competitive advantages and prioritized markets in each period. REFERENCES Ministry of Industry and Trade 2021, Vietnam Import and Export Report 2020, Industry and Trade Publishing House. General Statistics Office, Statistical Yearbook for the years 2010 - 2020, Statistical Publishing House, Hanoi. General Department of Customs, Customs Statistical Yearbook for the years 2010 - 2020, Finance Publishing House, Hanoi. USDA, Global Market Analysis, January 2021. Exports In 2021, Vietnam exported $ in Rice, making it the 3rd largest exporter of Rice in the world. At the same year, Rice was the 24th most exported product in Vietnam. The main destination of Rice exports from Vietnam are Philippines $ China $522M, Ghana $394M, Cote d'Ivoire $218M, and Malaysia $138M.The fastest growing export markets for Rice of Vietnam between 2020 and 2021 were Philippines $181M, Ghana $111M, and China $ In 2021, Vietnam imported $691M in Rice, becoming the 8th largest importer of Rice in the world. At the same year, Rice was the 101st most imported product in Vietnam. Vietnam imports Rice primarily from Cambodia $391M, India $259M, China $ Laos $ and Thailand $ fastest growing import markets in Rice for Vietnam between 2020 and 2021 were Cambodia $309M, India $244M, and Laos $ In 2019, the average tariff for Vietnam in Rice was The countries with the highest import tariffs for Rice were Angola Non-MFN duty rate for countries excluded from Most-Favoured- Nation MFN treatment, 40%, Burundi Non-MFN duty rate for countries excluded from Most-Favoured- Nation MFN treatment, 40%, Benin Non-MFN duty rate for countries excluded from Most-Favoured- Nation MFN treatment, 40%, Burkina Faso Non-MFN duty rate for countries excluded from Most-Favoured- Nation MFN treatment, 40%, and Botswana Non-MFN duty rate for countries excluded from Most-Favoured- Nation MFN treatment, 40%.Latest Trendspermalink to sectionApr 2023Subnational Monthly Tradepermalink to sectionViewFlowY-AXIS SCALEValuecaret-downFor a full breakdown of trade patterns, visit the trend explorer or the product in country following visualization shows the latest trends on Rice. Countries are shown based on data availability.* Using January 2020 exchange rates when trade data is reported in local Latest TrendsHistorical Datapermalink to sectionTrade Balancepermalink to sectionColorYearcaret-downEXPORTS 2021 $ 2021 $691MNET TRADE 2021 $ 2021, Vietnam exported $ in Rice. The main destinations of Vietnam exports on Rice were Philippines $ China $522M, Ghana $394M, Cote d'Ivoire $218M, and Malaysia $138M.In 2021, Vietnam imported $691M in Rice, mainly from Cambodia $391M, India $259M, China $ Laos $ and Thailand $ VisualizationsMarket Growthpermalink to sectionFlowStartingcaret-downEndingcaret-down Rice has always been a traditional strong export of Vietnam. As a rice production hub of the world, the country is set to remain the world’s second largest rice exporter in 2021 with million tons, according to the US Department of Agriculture USDA. Up to now, Vietnamese rice has been eaten in over 150 countries and territories in the world, meeting the buyers in quantity, quality, packaging and delivery time. This ultimate guide will cover all aspects of the rice market in Vietnam. Read it to learn more about how to source and import Vietnamese rice. 1. Vietnam’s rice market at a glance2. How does Vietnam produce and process its rice? 3. Vietnam’s rice classification4. Was Vietnam’s rice export volume affected by COVID-19 pandemic? 1. Vietnam’s rice market at a glance Rice production plays a vital role in the agricultural and rural development of Vietnam. It is the country’s main crop, accounting for more than 90% of total cereal production according to the General Statistics Office. The two major rice production regions of Vietnam are Red River Delta and Mekong Delta. These delta regions occupy about 66% of the total rice production area and provide up to 70% of the total material paddy yield of the whole country. According to the Ministry of Agriculture and Rural Development MARD, the Mekong Delta is still the largest “Rice Bowl” of Vietnam with ​​nearly 4 million hectares by 2019. This delta annually produces over 50% of total national rice production as well as over 90% of rice commodity for export. Vietnam Area, Yield and Paddy Production, 1993-2020. Source GSO According to GSO, the total paddy area and production in 2020 trend down due to urbanization, crop alteration, drought, and salinity intrusion impacts. However, rice production yields keep increasing for the past four years. In recent years, Vietnam has made a great effort in growing high productivity rice varieties and improving intensive cultivation competence of its farmers. As a result, Vietnamese paddy productivity remains stable and steadily increases every year. 2. How does Vietnam produce and process its rice? Rice has been grown in the country for thousands of years. There are three main crops in Vietnam, including winter-spring crops, summer-autumn crops and summer crops. Have a look at the below table to know more about the timeline of each crop Vietnamese rice production seasons Most rice grown in Vietnam is wet-rice, meaning that it is grown in flooded fields rather than dry land as it needs a constant supply of water. Seedlings are raised in nursery beds and transplanted after 25-50 days to flooded fields. The paddy stem is submerged in two to six inches of water and the seedlings placed in rows approximately a foot apart. Farmers will then constantly check to make sure the availability of certain water levels till harvesting time. Transplant process When the leaves of the rice stalks begin to turn yellow, farmers will drain and dry the paddies to prepare for the harvest. They then harvest rice by cutting the stalks with sickles. After that, they tie the stalks together and dry them. Farmers harvest rice with their sickles Threshing separates the grain from the rest of the plant. This phase has already been highly mechanicalized. Rice threshers and husking machines have relatively met farmers’ demands. After threshing, the grains are dried by exposing to the sun to be ready for storage. In recent years, the application of rice drier has been getting more and more popular. Vietnamese rice drier system The husk is removed from the kernel during milling. The bran layer, which contains the majority of the nutrients, is sometimes stripped away throughout the process. The bran coat on brown rice is still intact. Milling machines system in a Vietnamese rice processing company After going through these processes, rice can be selected identical. In recent times, the quality control process has been highly improved and achieved high effectiveness. The rate of unbroken rice grains is high and rice surface quality is good. Dust and noise are treated instantly inside the machines so environmental pollution can be avoided. 3. Vietnam’s rice classification Vietnam produces two major kinds of rice including sticky rice and ordinary rice of high and normal quality. The following are the classifications of Vietnamese ordinary rice varieties based on their structures, shapes, and colors. According to structures and shapes There are long grain rice, middle grain rice and short grain rice. According to colors There are brown rice, white rice, red rice and black rice. Regarding Vietnamese high quality rice, there are two kinds including special quality rice and fragrant rice. Especially for exporting, Vietnam exports the following kinds of rice 5% broken rice polished one time, 5% broken rice polished twice, 10%, 15%, 25% and 100% broken rice. Besides, Vietnam also exports glutinous and sticky rice, ordinary rice, rice parboiling and fragrant rice. In the current export structure, white rice still predominates. Vietnamese white rice is a competitor of Thai average and high quality rice. Regarding export categories, in 2020, the export value of white rice accounted for of the total turnover; jasmine rice and fragrant rice accounted for sticky rice accounted for japonica rice and Japanese rice varieties accounted for according to the MARD. Vietnamese broken rice 4. Was Vietnam’s rice export volume affected by COVID-19 pandemic? While several agricultural commodities had major drops in 2020, the rice business saw tremendous growth. Rice is the agricultural product with the highest growth value, according to statistics from the Agency of Foreign Trade. Vietnam earned over US$3 billion from exporting rice in 2020, as stated by Vietnam Food Association VFA, a year-on-year increase of more than 10%. Despite the challenges provided by the ongoing COVID-19 pandemic, rice exporters swiftly adjusted their strategies and actively sought new markets, fully utilizing the benefits of FTAs. As said by Vice Chairman of the VFA, Do Ha Nam, the EU-Vietnam Free Trade Agreement EVFTA has created a significant potential for Vietnamese rice to enter European markets and then expand into other competitive areas. Viego Global – Your trusted sourcing partner in Vietnam At Viego Global, we know it’s more than just finding the right Vietnam supplier since every step of the supply chain requires proper implementation in order to ensure Vietnam quality commodities are well delivered to clients. We always try our best to determine the best suppliers based on customers’ needs. During research on potential suppliers, discussion and factory visits, we inspect every single thing from business license, capacity, to past orders as well as the equipment and the workers’ competence. This is why Viego Global makes sure that you can reach the best Vietnam suppliers at the most competitive price. Apart from Rice, we also provide insights on other Agricultural products from Vietnam. Jump to Vietnam’s Coffee Market, Vietnam’s Pepper Market, Vietnam’s Cashew Market and also check many other tips for sourcing from Vietnam. ReferencesAnderson, J. E. 1979. A theoretical foundation for the gravity equation. American Economic Review, 69, 106–116. Google Scholar Anh, T. T., & Thang, D. N. 2008. Các nhân tố ảnh hưởng tới mức độ tập trung thương mại của Việt Nam với Asean+3. Vietnam Economic and Policy Research center VEPR.Bac, N. X. 2010. The determinants of Vietnamese export flows static and dynamic panel gravity approaches. International Journal of Economics and Finance, 24, 122–129. doi Google Scholar Bergstrand, J. H. 1985. The gravity equation in international trade Some microeconomic foundations, and empirical evidence. Review of Economics and Statistics, 674, 474–481. doi Google Scholar Bikker, 2009. An extended gravity model with substitution applied to international trade. Working Papers 09-17, Utrecht School of S., Demetriades, P. O., & Morgenroth, E. L. 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Shaping the world economy suggestions for an international economic policy, New York, The Twentieth Century FundTri, D. T. 2006. A gravity model for trade between Vietnam and twenty-three European countries. Department of Economics and SocietyDownload references Dublin, Aug. 10, 2022 GLOBE NEWSWIRE - The "Research Report on Vietnam's Rice Industry 2022-2031" report has been added to offering. Vietnam is rich in rice, tropical crops and aquatic products and is a major exporter of agricultural products in Southeast Asia, and the third largest exporter of rice in the world. According to the analyst's analysis, Vietnam's rice export value reached billion in 2021, and rice has become a bright spot in Vietnam's agricultural products exports. This is a remarkable achievement of the rice industry for many years, especially in the context of natural disasters and COVID-19 epidemic that hit Vietnam's agriculture in 2020 in terms of production and 2021, Vietnam's total rice production was about 44 million tons, meeting the demand for domestic consumption, processing, poultry and livestock feed, and export, etc. In 2020, its rice exports grew against the backdrop of a decline in exports of many of Vietnam's long-dominant agricultural products due to the COVID-19 epidemic. In 2021, rice exports increased from million tons to million terms of price, the average price of Vietnam's rice exports in 2021 dropped percent year on year to $477 per ton. At the beginning of 2021, Vietnamese rice prices still maintained the highest position. On March 25th, Vietnamese rice with a 5% breakage rate rose to $515-520 per ton, Thai rice of the same variety to $500-518 per ton and Indian rice to $398-403. In January 2021, Vietnam's rice export price reached $ per the EU-Vietnam Free Trade Agreement EVFTA came into force on August 1, 2020, rice exports have rapidly seen an upturn. According to EVFTA, the EU provides Vietnam with 80,000 tons of rice for export at 0% tax rate annually including 30,000 tons of milled rice, 20,000 tons of unmilled rice and 30,000 tons of aromatic rice.For rice from Vietnam, the EU will reduce the import duty rate to zero in the coming years. Taking advantage of the above, from September 2020, Vietnam started to sell rice to the EU at a much higher price than before. Specifically, before EVFTA came into effect, the prices of ST20 rice and Jasmine rice exported to the EU were USD800 and USD520 per ton, respectively, while now the prices are over USD1,000 and USD600, to the analyst's analysis, there are three reasons for the rise in Vietnam's rice prices. Firstly, the government issued an agricultural restructuring proposal, by which the rice structure has been strongly adjusted, changing the rice cultivation protocols, paying more attention to improving rice quality rather than increasing 2015, Vietnam's quality rice seeds accounted for only 35%-40% of the total seeds, while in 2020 the Chart reached 75%-80%, and even in some places, the usage rate of quality rice seeds is as high as 90%.Secondly, Vietnam has signed many FTAs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership CPTPP and the Europe-Vietnam Free Trade Agreement EVFTA with many countries, which creates conditions for a breakthrough in Vietnam's rice exports. Third, many industries were affected by the COVID-19 epidemic in 2020, but the market demand for food has not to the analyst's analysis, the Jiulong River Plain is the center of rice cultivation in Vietnam, contributing 50% of rice production and 95% of rice exports to Vietnam's 2020, the Jiulong River Plain cultivated more than million hectares of rice per season, with an average yield of 6 tons per hectare and an annual rice production of more than 24 million tons. Furthermore, its winter-spring rice production is expected to reach 10 million tons from 2020 to analyst reports that Vietnam's rice exports are to continue to rise in both volume and value in 2022-2031. Topics covered Overview of Vietnam's Rice IndustryEconomic and Policy Environment of Vietnam's Rice IndustryWhat is the Impact of COVID-19 on Vietnam's Rice Industry?Imports volumes and values of Vietnam's Rice, 2016-2021Forecast on Imports volumes and values of Vietnam's Rice, 2022-2031Analysis of Major Rice Companies in VietnamKey Drivers and Market Opportunities in Vietnam's Rice IndustryWhat are the key drivers, challenges, and opportunities for the rice industry in Vietnam during 2022-2031?What is the expected revenue of the Vietnam rice market during 2022-2031?What are the strategies adopted by the key players in the market to increase their market share in the industry?Which segment of Vietnam's rice market is expected to dominate the market in 2031?What are the major adverse factors facing the rice industry in Vietnam? Key Topics Covered1 Overview of Geographical Demographic Structure of Economy of Minimum Wage in Vietnam, Impact of COVID-19 on the Rice Industry in Vietnam2 Development Environment of Vietnam's Rice Brief History of Vietnam's Rice Types of Vietnam's Rice Policy Environment of Vietnam's Rice Industry3 Supply and Demand Situation of Vietnam's Rice Supply Demand Situation4 Import and Export Situation of Vietnam's Rice Import Import Volume and Import Main Import Export Export Volume and Main Export Destinations5 Market Competition in Vietnam's Rice Barriers to Entry in Vietnam's Rice Brand Quality Capital Competitive Structure of Vietnam's Rice Bargaining Power of Rice Bargaining Power of Competition in Vietnam's Rice Potential Entrants in the Rice Substitutes for Rice6 Analysis of Major Rice Brand Companies in Vilaconic Joint Stock Development History of Vilaconic Joint Stock Main Products of Vilaconic Joint Stock Operating Model of Vilaconic Joint Stock Vu Phat International Co., Cam Nguyen Rice Trading And Processing Limited Khanh Tam Company Hoa Lua Rice Trading Company SUNRISE INS Company Khue Star Import Export Trading Company Robert & Partners International Hanfimex Gia Son Phat Trading and Service Outlook on Vietnam's Rice Industry, Analysis of Vietnam's Rice Industry Development Drivers and Development Opportunities for Vietnam's Rice Threats and Challenges Facing Vietnam's Rice Forecast on Vietnam's Rice Forecast on Vietnam's Rice Market Forecast on Import and Export of Vietnam's Rice Industry For more information about this report visit Vietnamese Rice Market Vietnamese Rice Market Vietnamese Rice Market

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