Rice Exports are to Continue to Rise in Both Volume and Value to 2031

DUBLIN, Aug. 9, 2022 /PRNewswire/ — The “Analysis Report on Vietnam’s Rice Trade 2022-2031″ report has been added to ResearchAndMarkets.com’s providing.

Vietnam is wealthy in rice, tropical crops and aquatic merchandise and is a serious exporter of agricultural merchandise in Southeast Asia, and the third largest exporter of rice on the earth.

In keeping with the analyst’s evaluation, Vietnam’s rice export worth reached USD3.133 billion in 2021, and rice has turn into a vibrant spot in Vietnam’s agricultural merchandise exports. It is a outstanding achievement of the rice {industry} for a few years, particularly within the context of pure disasters and COVID-19 epidemic that hit Vietnam’s agriculture in 2020 when it comes to manufacturing and export.

In 2021, Vietnam’s complete rice manufacturing was about 44 million tons, assembly the demand for home consumption, processing, poultry and livestock feed, and export, and so forth. In 2020, its rice exports grew towards the backdrop of a decline in exports of lots of Vietnam’s long-dominant agricultural merchandise as a result of COVID-19 epidemic. In 2021, rice exports elevated from 5.28 million tons to six.57 million tons.

When it comes to worth, the typical worth of Vietnam’s rice exports in 2021 dropped 3.83 % 12 months on 12 months to $477 per ton. Firstly of 2021, Vietnamese rice costs nonetheless maintained the best place. On March twenty fifth, Vietnamese rice with a 5% breakage charge rose to $515-520 per ton, Thai rice of the identical selection to $500-518 per ton and Indian rice to $398-403. In January 2021, Vietnam’s rice export worth reached $551.7 per ton.

Because the EU-Vietnam Free Commerce Settlement (EVFTA) got here into drive on August 1, 2020, rice exports have quickly seen an upturn. In keeping with EVFTA, the EU offers Vietnam with 80,000 tons of rice for export at 0% tax charge yearly (together with 30,000 tons of milled rice, 20,000 tons of unmilled rice and 30,000 tons of fragrant rice).

For rice from Vietnam, the EU will cut back the import responsibility charge to zero within the coming years. Profiting from the above, from September 2020, Vietnam began to promote rice to the EU at a a lot larger worth than earlier than. Particularly, earlier than EVFTA got here into impact, the costs of ST20 rice and Jasmine rice exported to the EU have been USD800 and USD520 per ton, respectively, whereas now the costs are over USD1,000 and USD600, respectively.

In keeping with the analyst’s evaluation, there are three causes for the rise in Vietnam’s rice costs. Firstly, the federal government issued an agricultural restructuring proposal, by which the rice construction has been strongly adjusted, altering the rice cultivation protocols, i.e., paying extra consideration to enhancing rice high quality quite than rising manufacturing.

In 2015, Vietnam’s high quality rice seeds accounted for less than 35%-40% of the entire seeds, whereas in 2020 the Chart reached 75%-80%, and even in some locations, the utilization charge of high quality rice seeds is as excessive as 90%.

Secondly, Vietnam has signed many FTAs such because the Complete and Progressive Settlement for Trans-Pacific Partnership (CPTPP) and the Europe-Vietnam Free Commerce Settlement (EVFTA) with many nations, which creates situations for a breakthrough in Vietnam’s rice exports. Third, many industries have been affected by the COVID-19 epidemic in 2020, however the market demand for meals has not decreased.

In keeping with the analyst’s evaluation, the Jiulong River Plain is the middle of rice cultivation in Vietnam, contributing 50% of rice manufacturing and 95% of rice exports to Vietnam’s agriculture.

In 2020, the Jiulong River Plain cultivated greater than 1.5 million hectares of rice per season, with a median yield of 6 tons per hectare and an annual rice manufacturing of greater than 24 million tons. Moreover, its winter-spring rice manufacturing is predicted to achieve 10 million tons from 2020 to 2021.

The analyst stories that Vietnam’s rice exports are to proceed to rise in each quantity and worth in 2022-2031.

Story continues

Subjects coated:

• Overview of Vietnam’s Rice Trade

• Financial and Coverage Setting of Vietnam’s Rice Trade

• What’s the Impression of COVID-19 on Vietnam’s Rice Trade?

• Imports volumes and values of Vietnam’s Rice, 2016-2021

• Forecast on Imports volumes and values of Vietnam’s Rice, 2022-2031

• Evaluation of Main Rice Firms in Vietnam

• Key Drivers and Market Alternatives in Vietnam’s Rice Trade

• What are the important thing drivers, challenges, and alternatives for the rice {industry} in Vietnam throughout 2022-2031?

• What’s the anticipated income of the Vietnam rice market throughout 2022-2031?

• What are the methods adopted by the important thing gamers available in the market to extend their market share within the {industry}?

• Which phase of Vietnam’s rice market is predicted to dominate the market in 2031?

• What are the most important hostile elements dealing with the rice {industry} in Vietnam?

Key Subjects Coated:

1 Overview of Vietnam
1.1 Geographical Scenario
1.2 Demographic Construction of Vietnam
1.3 Financial system of Vietnam
1.4 Minimal Wage in Vietnam, 2011-2022
1.5 Impression of COVID-19 on the Rice Trade in Vietnam

2 Improvement Setting of Vietnam’s Rice Trade
2.1 Transient Historical past of Vietnam’s Rice Trade
2.2 Forms of Vietnam’s Rice {industry}
2.3 Coverage Setting of Vietnam’s Rice Trade

3 Provide and Demand Scenario of Vietnam’s Rice Trade
3.1 Provide Scenario
3.2 Demand Scenario

4 Import and Export Scenario of Vietnam’s Rice Trade
4.1 Import Scenario
4.1.1 Import Quantity and Import Worth
4.1.2 Foremost Import Sources
4.2 Export Scenario
4.2.1 Export Quantity and Worth
4.2.2 Foremost Export Locations

5 Market Competitors in Vietnam’s Rice Trade
5.1 Limitations to Entry in Vietnam’s Rice Trade
5.1.1 Model barrier
5.1.2 High quality Barrier
5.1.3 Capital Barrier
5.2 Aggressive Construction of Vietnam’s Rice Trade
5.2.1 Bargaining Energy of Rice Suppliers
5.2.2 Bargaining Energy of Customers
5.2.3 Competitors in Vietnam’s Rice Trade
5.2.4 Potential Entrants within the Rice Trade
5.2.5 Substitutes for Rice

6 Evaluation of Main Rice Model Firms in Vietnam
6.1 Vilaconic Joint Inventory Firm
6.1.1 Improvement Historical past of Vilaconic Joint Inventory Firm
6.1.2 Foremost Merchandise of Vilaconic Joint Inventory Firm
6.1.3 Working Mannequin of Vilaconic Joint Inventory Firm
6.2 Vu Phat Worldwide Co., Ltd
6.3 Cam Nguyen Rice Buying and selling And Processing Restricted Firm
6.4 Khanh Tam Firm Restricted
6.5 Hoa Lua Rice Buying and selling Firm Restricted
6.6 SUNRISE INS Firm Restricted
6.7 Khue Star Import Export Buying and selling Firm Restricted
6.8 Robert & Companions Worldwide Restricted
6.9 Hanfimex Group
6.10 Gia Son Phat Buying and selling and Service Co.

7 Outlook on Vietnam’s Rice Trade, 2021-2031
7.1 Evaluation of Vietnam’s Rice Trade Improvement Components
7.1.1 Drivers and Improvement Alternatives for Vietnam’s Rice Trade
7.1.2 Threats and Challenges Dealing with Vietnam’s Rice Trade
7.2 Forecast on Vietnam’s Rice Provide
7.3 Forecast on Vietnam’s Rice Market Demand
7.4 Forecast on Import and Export of Vietnam’s Rice Trade

For extra details about this report go to https://www.researchandmarkets.com/r/437ryw

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