Rice exports are estimated to reach 3.57 million tons in the first six months.

These rice exports were valued at $1.58 billion, a decrease of 6.8% in volume and 9.8% in value compared to the same period in 2012.

According to the Vietnam Industry and Trade Information Center (VITIC, Ministry of Industry and Trade), rice exports, after declining in both volume and value in April, rebounded in May (up 7.91% in volume and 7.7% in value compared to April).

However, overall for the first five months of the year, rice exports still saw a slight decrease of 0.39% compared to the same period last year, and a 4.74% decrease in value, reaching only 2.92 million tons, equivalent to 1.3 billion USD.

Rice exports in June were estimated at 649,000 tons, valued at $289 million, bringing the total rice exports for the first six months of 2013 to approximately 3.57 million tons, valued at $1.58 billion, a decrease of 6.8% in volume and 9.8% in value compared to the same period last year.

VITIC assesses that, over the past several months, export rice prices have remained low. The average export price of rice in the first five months of the year reached US$445/ton, a decrease of 7.7% compared to the same period last year. China remains Vietnam's largest rice importer (accounting for 38.9% of the volume and 36.44% of the total value). Rice exports to this market in the first five months of the year saw strong growth, reaching 1.13 million tons, with a value of US$472.39 million, an increase of 27.88% in volume and 25.1% in value compared to the same period last year.

Following China are other major markets such as: the Philippines (US$94.37 million); Malaysia (US$85.09 million); Singapore (US$67.1 million); Ivory Coast (US$51.28 million); Hong Kong (US$50.18 million); Ghana (US$48.16 million); and Indonesia (US$43.46 million).

Rice is the agricultural export commodity with the sharpest decline in average price, but the highest increase in export volume compared to the same period last year. Specifically, rice exports in the first quarter of 2013 reached 1.57 million tons, an increase of nearly 18% compared to the same period last year, and the average export price was only 440 USD/ton, a decrease of 10%. Entering the second quarter of 2013, export rice prices not only failed to improve but also decreased further, from 400-410 USD/ton (5% broken rice) at the end of April to 375-385 USD/ton from May onwards.

Experts predict that the downward price trend will continue, even though trading may pick up again in the final months of the year.

According to (VOV)-LC