Vietnamese Businesses Win Contracts to Export over 301,000 Tonnes of Rice to Indonesia
- 139
- Business
- 13:27 02/02/2024
DNHN - The total volume of rice that Vietnamese businesses have won contracts for is approximately 301,100 tonnes of 5% broken white rice, opening up favourable prospects in the export market.
Vietnam has officially won 8 out of 17 bid packages to import 500,000 tonnes of rice in Indonesia, according to the latest announcement from the Indonesian National Logistics Agency (Bulog). The total volume of rice that Vietnamese businesses have won is approximately 301,100 tonnes of 5% broken white rice, opening up favourable prospects in the export market.
In 2024, Indonesia is expected to import about 3 million tonnes of rice, ranking among the top along with the Philippines in becoming the largest rice importers in the world. This is a great opportunity for Vietnam, traditionally a major trading partner with the Philippines, to expand its market and consolidate its position in rice exports.
Vietnamese businesses have demonstrated strong competitiveness by winning nearly two-thirds of the bid packages. Of these, three major enterprises, Loc Troi Group Joint Stock Company, the Northern Food Corporation (Vinafood 1), and the Southern Food Corporation (Vinafood 2), have won two lots each.
In addition, Kien Giang Import-Export Joint Stock Company and Phat Tai Foodstuff Company Limited (Dong Thap) have also successfully won contracts. Notably, Vietnam is the only country with many businesses participating and winning contracts in large quantities, surpassing competitors in the region.
Currently, Vietnam’s rice export prices are highly competitive in the international market, at $642 per tonne, only lower than Thailand ($655 per tonne) and Pakistan ($638 per tonne). Although Thailand’s rice prices are currently higher, Vietnam is attracting attention with its quality and stable supply capacity.
With this important contract, Vietnamese rice businesses have a great opportunity to expand their market and increase their export capacity in 2024, especially as Indonesia and the Philippines continue to maintain their positions as major partners of Vietnam in rice exports.
P.V
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