The Chinese version of the Viet News Agency reported on January 22 that the Philippines is a traditional customer of Vietnam rice, data released by the General Administration of Customs of Vietnam It is shown that the Philippines imported 2.2 million tons of rice from Vietnam in 2020, with an import value of 1.06 billion U.S. dollars, an increase of 4%and 19.3%year-on-year respectively. The export value exceeded 1 billion U.S. dollars for the first time, a record high. The Philippines has become the largest export market for Vietnamese rice.
Vietnam in 2020 The total amount of rice exports reached US$3.07 billion. Rice has become a bright spot in the field of agricultural, forestry and aquatic product exports, especially the important achievements made in 2020 when Vietnam’s agricultural production and exports suffered severe losses from natural disasters and epidemics.
According to the Vietnam Food Association’s forecast, Vietnam’s rice exports in the first quarter of 2021 will remain substantial, and major markets such as the Philippines and Africa will continue to sign contracts to purchase rice from Vietnam. When a series of potential customers such as China and Bangladesh increased their purchases, the Asian rice market also began to heat up again. The Vietnam-Europe Free Trade Agreement and other free trade agreements signed by Vietnam will have a more obvious promotion effect on rice exports, and Vietnamese rice will enter the EU market at higher prices.