Vietnam's Largest Rice Importers Increasing Their Purchases of Vietnamese Rice

Indonesia recently opened a bid for 500,000 tons of imported rice, including rice from Vietnam, and the Philippines has placed new orders.

Indonesia’s Rice Imports From Vietnam

The bid for 500,000 tons of imported rice, including 300,000 tons for supplies from Vietnam, Thailand, and Myanmar and 200,000 tons from Pakistan, has been made public by Indonesia's National Logistics Agency.

Deliveries to Indonesia will be made by the successful bidder before December 25. Indonesia has surpassed China to become Vietnam's second-largest rice importer as a result of the ongoing rise in sales. In the first nine months of this year, Indonesia imported 871,000 tons of rice from Vietnam, a 16-fold increase from the same period last year.

Philippines Rice Imports From Vietnam

Since imposing a price cap on domestic rice, the Philippines, Vietnam's largest rice importer, has also resumed increasing its purchases after a nearly month-long suspension.

On 4th October, the Philippines lifted its ceiling price placed for conventionally milled and well-milled rice. Vietnam exported 2.4 million tons of rice to the Philippines in the first nine months, totaling nearly $1.5 billion, a 20% increase in revenue.

China’s Rice Imports From Vietnam

In October, China, the third-largest rice importer from Vietnam, will also buy more sticky rice and ST 24 and 25. In the first nine months, China imported 850,000 tons of Vietnamese rice, a 35% increase.

Vietnamese Rice Exports To Other Countries

In addition to the aforementioned key markets, Vietnam's rice exports increased from 46% to several dozen times over the same period last year to Ghana, Turkey, and Chile. Vietnamese 5% broken rice cost between $600-613/ton on October 9, while fragrant rice cost between $640-650/ton, which was $30 more expensive than Thai rice and $65 more expensive than Pakistani rice. In the first nine months, Vietnam exported 6.35 million tons of rice worth $3.5 billion, an increase of 18% and 34%, respectively.

If you are a rice importer wishing to buy rice in bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you.

Tradologie.com is a transaction oriented platform that facilitates bulk agro-commodities trade completely from enquiry-to-delivery in a digital manner. The best quality and inspected commodities can be procured at prices which can be directly negotiated with the sellers, thereby giving more margins for both sellers and buyers along with the end consumers, reducing the overall cost of trade. This platform hence grants sellers better access to new global buyers, increasing their overall business orders and profits, as there are no middlemen involved in the trade here.

To register as a buyer, click here. To register as a seller, click here. 

To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.