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Rice exports rebound in November

Released at: 14:34, 26/11/2015

Rice exports rebound in November

Year-to-date figure up but value down, as MARD releases agri export data.

by Quynh Nguyen - Chu Khoi

Figures from the Ministry of Agriculture and Rural Development (MARD) show that in November rice exports recorded an unexpected increase in volume over November 2014 and far exceeded the forecasted figure of 800,000 tons. In the first ten months of the year exports had continually fallen compared to the same period last year.

Export turnover in agriculture, forestry and fisheries in November was estimated at $2.57 billion, for a total of $27.41 billion in the first eleven months, down 1.9 per cent year-on-year. Exports of agricultural products fell 4 per cent and fisheries products were down 16.4 per cent, while forestry products rose 8.2 per cent.

Boom in rice and cashews

Rice exports in November reached 885,000 tons, worth $372 million; double the figure in previous months. The year-to-date volume stands at 6.24 million tons worth $2.65 billion, a 3.6 per cent increase in volume but 4.9 per cent decline in value year-on-year.

China remains Vietnam’s largest rice importer, according for 34.49 per cent, up 7.21 per cent in volume but down 1.36 per cent in value. Following were the Philippines, Malaysia, Ghana, Ivory Coast, and Russia.  

MARD has therefore forecast exports volumes of 6.8 million tons for the year as a whole, up from the 6.02 million tons forecast in late September.

Meanwhile, cashew nut exports are heading towards a new record. Volumes are estimated at 25,000 tons worth $186 million in November, for an eleven-month figure of 300,000 tons worth $2.18 billion, up 7.3 per cent and 19.2 per cent, respectively, year-on-year. The average export price rose to $7,269 per ton, up 11.3 per cent year-on-year.

Vietnam's major cashew markets

Source: MARD

Pepper exports reached 6,000 tons worth $65 million in November, for a year-to-date total of 124,000 tons worth $1.18 billion, down 17.3 per cent in volume but up 2.8 per cent in value. The average pepper price was $9,521 per ton, 24.9 per cent higher than in the same period last year. Germany, the UK, and South Korea were Vietnam’s three largest markets.

The export value of wood and wooden products in November was $569 million, for $6.1 billion so far this year, up 8.6 per cent year-on-year. The US, Japan, and China remained the three largest markets, accounting for 67.29 per cent of total export value.

Rubber, coffee, seafood doing it tough

Contrary to the rise in rice exports, coffee exports are still struggling. Exports were estimated at 85,000 tons worth $162 million in November, bringing the year-to-date volume to $1.13 million tons and value to $2.3 billion, down 27.7 per cent and 30.2 per cent, respectively, against the same period last year.

Agriculture exports, November 2015

Source: MARD

The rubber export volume reached 108,000 tons worth $134 million. As at November the volume stood at 983,000 tons for the year, valued at $1.35 billion, up 3.6 per cent in volume but down 15.5 per cent in value year-on-year. The average rubber export price fell 18.7 per cent over the course of the year. China, Malaysia, and India remained Vietnam’s three largest markets, accounting for 72.36 per cent of total exports.

Seafood exports, meanwhile, remain sluggish. Export value reached just $593 million in November, for an eleven-month figure of $6.01 billion, down 16.4 per cent year-on-year. The US remains the leading importer of Vietnamese seafood, accounting for 19.71 per cent of total turnover. Exports to Japan and South Korea also fell significantly, by 13.36 per cent and 13.59 per cent, respectively. Notable growth, however, was seen in exports to Thailand, up 19.77 per cent, and the UK, up 9.11 per cent.

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