Vietnam to export 1.5 million tons of rice each year to PH


Vietnam and the Philippines have reached a trade agreement on extending Vietnam’s rice exports to the Philippines during 2017-2018 period, according to Vietnam’s Ministry of Trade and Industry on Tuesday.

Under the agreement, Vietnam will provide 1.5 million tons of rice for the Philippines each year till the end of 2018. The first bidding round of rice exports will happen in January, 2017.

According to the ministry, in the context that Vietnamese rice is facing fierce competition from its traditional competitors like Thailand, India as well as emerging ones including Pakistan, Cambodia, and Myanmar, the agreement will help ensure Vietnam’s position among the world’s top rice exporters.

In 2016, Vietnam exported an estimated 4.88 million tons of rice, earning some 2.2 billion U.S. dollars, a year-on-year decrease of 25.8 percent in volume and 21.2 percent in value, according to the Ministry of Agriculture and Rural Development.


Readers choice: TOP-5 articles of the month by UkrAgroConsult