The Philippines is the major importer of Vietnamese rice. Vietnamese rice is now a lucrative market for traders to invest in.
Vietnam rice export to Philippines: An overview
In the first four months of 2021, Vietnam rice export to the Philippines stood at more than 715,000 tons, valued at more than $380 million, accounting for 36.27% of the country’s total export volume. Thus, the Philippines is still a traditional and important import market for Vietnam.
- During the first months of 2021, white rice accounted for 63.1% of Vietnam rice export to Philippines. The average price of white rice export is 438-442 USD/ton.
- Jasmine rice just made up about 21,9%. his is one of the main Vietnam rice export to Philippines. The average price of Jasmine rice export is 563-567 USD/ton.
- Glutinous rice made up a minority of Vietnam rice export to Philippines. The average price of glutinous rice export is 500-510 USD/ton.
Main locations growing Vietnam rice export to Philippines
The Mekong Delta and Red River delta are the two most important rice growing areas of Vietnam. The Mekong Delta accounted for 52% of Vietnam’s rice cultivation area whereas, in 2020, the Red River Delta cultivated 484.4 thousand hectares. Therefore, Vietnam rice export to the Philippines is mainly located there to distribute to countries in the world.
Factors affecting Vietnam rice export to Philippines
The rice volume exported to nations is affected by the following main elements.
Despite the drought, saline intrusion, rice production in 2020 was still good, and rice yields of all three crops: winter-spring, summer rice, and autumn-winter in 2020 are estimated to increase in comparison with 2019. In which, this year’s winter-spring crop is a successful rice crop with a yield of 66.4 quintals/ha, increasing by 0.9 quintal/ha compared to the 2019 winter-spring crop. Rice production ensures a sufficient supply for Vietnam rice export to Philippines.
According to information from the Philippines recently, this country will need to import at least 1.69 million tons of rice in 2021 to meet domestic demand. The Philippines is facing the danger of rice shortage as domestic rice supply in 2020 is tightened, amid the world rice market is plunging due to the situation in which rice was transported in delay and tendency to hoard food globally. Vietnam rice export to Philippines maintain stably.
Because of the pandemic, transportation has difficulty in delivery. Vietnam rice export to Philippines can be late in delivery or cargo preparation because of port congestion. The transportation fee has increased sharply, 500-1,000 USD/time.
Top 3 suppliers of Vietnam rice export to Philippines
Here is the list of the most popular distributors of Vietnam rice exported to the Philippines.
- K-Agriculture Factory
In 25-year experience, K-Agriculture is one of the leading wholesale companies in Vietnam rice export to Philippines. This company has a system of modern factory with big capacity. K-Agriculture possessed HACCP and ISO certificates. The main products are ST rice, jasmine rice, glutinous rice, etc.
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- Viet Hung Company
Viet Hung Company Limited operates in the fields of rice milling, processing, domestic food business and export; sea transport and warehouse rental. Currently the company specializes in trading all kinds of specialty rice that meet export standards. This company contributes to developing Vietnam rice export to Philippines.
- Docimexco Company
Docimexco Joint Stock Company is one of the largest rice import and export companies in Vietnam. This company has many strengths in the production and processing of rice for export, such as setting up a factory right in the concentrated raw material area, so it can shorten and reduce costs in the production and export of rice.