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Vietnam properly grasp the demand for rice in the world
According to the latest updated forecast information in July of the US Department of Agriculture, the world's rice production in 2020 is estimated at 495.2 million tons, down about 0.3% compared to 2019. World rice consumption in 2020 is estimated at 490.4 million tons, an increase of about 1.3% compared to 2019.
According to the Ministry of Industry and Trade, with the advantages of the market, especially the high world rice demand since the outbreak of COVID-19, Vietnamese rice enterprises are having the opportunity to increase output and export prices of rice. In fact, Vietnam has seized the opportunity when the demand for rice increases, when in two consecutive crops of Winter-Spring 2019-2020 and Summer-Autumn 2020, Vietnam's rice output increased. At the right moment, the price of rice for export in the world continues to rise because of the purchasing demand of many countries for reserve and disease prevention COVID-19.
According to the Ministry of Agriculture and Rural Development, in the first seven months of 2020, Vietnam exported about 3.9 million tons of rice, reaching a turnover of $ 1.9 billion, up 10.9% in value over the same period last year. . Especially, Vietnam's rice export price has increased, surpassing Thailand, India and Pakistan. This is the second time Vietnam can return to the number 1 rice exporter in the world.
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