Rice exports to Philippines surpass 1-billion-USD mark
The Philippines was the top importer of Vietnamese rice in 2020, purchasing 2.22 million tonnes worth 1.06 billion USD, a year-on-year surge of 4 percent in volume and 19.3 percent in value, according to the General Department of Vietnam Customs.
The Philippines was the top importer of Vietnamese rice in 2020 (Illustrative image: VNA)
Hanoi(VNA) –💝 The Philippines was the top importer of Vietnamese rice in 2020, purchasing2.22 million tonnes worth 1.06 billion USD, a year-on-year surge of 4 percentin volume and 19.3 percent in value, according to the General Department ofVietnam Customs.
This is a record highin rice export volume to this traditional market and it is also the first timethe value exceeded the 1-billion-USD mark. In addition, exportprice to the Philippines surged in the year, hitting 476 USD per tonne inaverage, up 14.7 percent against 2019. Vietnam shipped abroadnearly 6.25 million tonnes of the grain in 2020, raking in 3.12 billion USD,down 1.9 percent in volume but rising 11.2 percent in revenue against theprevious year. The Philippinesremained as the leading market of Vietnamese rice, holding a lion’s share of35.5 percent and 33.9 percent in total volume and export revenue of thecountry./.
In the first 11 months of this year, Vietnam's rice exports exceeded 5.7 million tonnes, down by 3 percent, but earnings surged by 9.7 percent to nearly 2.83 billion USD over the same period in 2019 thanks to export price increase.
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