Ghana becomes Việt Nam's largest rice export market in September

Ghana becomes Việt Nam's largest rice export market in September

Following Ghana, Côte d’Ivoire and Malaysia were the second- and third-largest importers of Vietnamese rice, with market shares of over 21 per cent and nearly 10 per cent, respectively.

Rice sacks are loaded for transportation. VNA/VNS Photo

Ghana became Việt Nam’s largest rice buyer in September, accounting for nearly 22 per cent of total exports after the Philippines temporarily suspended imports.

Việt Nam exported 6.83 million tonnes of rice in the first nine months, earning US$3.49 billion, down 2.05 per cent in volume and 19.98 per cent in value year-on-year.

In September alone, the country shipped 466,800 tonnes of rice worth over $232.38 million, down sharply by 43.27 per cent in volume and 54.73 per cent in value compared to the same period last year.

Following Ghana, Côte d’Ivoire and Malaysia were the second- and third-largest importers of Vietnamese rice, with market shares of over 21 per cent and nearly 10 per cent, respectively.

In early August, the Philippine government announced a two-month suspension of rice imports from September 1 amidst falling domestic rice prices. However, market analysts predict that overall exports will remain robust thanks to growing demand in other regions.

In 60 days, the Philippines – one of Việt Nam’s main buyers, will review the situation before deciding whether to reopen imports, giving Việt Nam ample time to adjust the export pace.

Despite a temporary halt in rice imports from the Philippines, Việt Nam’s export is expected to exceed 8.2 million tonnes for the whole year, bolstered by rising shipments to such markets as Bangladesh, China, and South Africa. 

Bizhub