China is the leading importer of rice from Vietnam.

According to information from the Ministry of Agriculture and Rural Development, in October, Vietnam exported an estimated 368,000 tons of rice, worth 164 million USD.

Cumulatively, rice export volume in the first 10 months is estimated at 4.2 million tons with 1.9 billion USD, down 21.2% in volume and 16.9% in value compared to the same period. The average export price of rice in the first 9 months reached 449 USD/ton, up 4.8% compared to the same period. This year, Vietnam aims to export 6.5 million tons of rice.

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Rice export. Internet image

China continues to be the largest importer of Vietnamese rice, with a 35.4% market share. In the first 9 months, Vietnamese rice exports to the Chinese market reached 1.35 million tons worth 613.8 million USD, down 23% in volume and 13.9% in value.

Many markets also sharply reduced imports of Vietnamese rice such as the Philippines, Malaysia, Singapore, the US, Ivory Coast... However, Ghana - the second largest rice importing market - had strong growth (36%) with 11% market share.

Notably, Indonesia is Vietnam's fourth largest rice import market, with an 8.2% market share. Vietnam's rice exports to Indonesia in the first 9 months reached 359,400 tons worth 142.5 million USD, up 21.5 times in volume and 22.5 times in value compared to the same period last year.

The Vietnam Food Association (VFA) said that Philippine businesses have been allowed by the country's food agency to import 293,100 tons of rice from Vietnam to ensure food demand for the 2017 lean season.

Previously, in mid-2016, the Thai National Rice Policy Committee announced the sale of 11.4 million tons of rice stockpiles. This was Thailand’s largest rice stockpiling sale and was expected to put great competitive pressure on the Vietnamese rice market.

Thailand is currently the world's second largest rice exporter after India, exporting about 10 million tons a year. Thailand's major export markets are China, Indonesia, and the Philippines - which are also major importers of Vietnamese rice.

According to Bach Duong/vneconomy