Vietnam exported 4.8 million tonnes of rice in 2016, down nearly 2 million tonnes against 2015, failing to meet the annual target of 5.4 million tonnes.
According to the latest report from the General Department of Customs, Vietnam earned only USD2.1 billion from rice exports in 2016, down from USD2.8 billion in 2015 and USD2.9 billion from 2014.
Vietnam exported 4.8 million tonnes of rice in 2016, down nearly 2 million tonnes against 2015
Vietnam's rice exports were estimated at 6.6 million tonnes in 2015; 6.3 million tonnes in 2014, the General Department of Customs said.
The Vietnam Food Association attributed the lower rice exports to the drastic fall in the country's key import markets such as China, the Philippines, Malaysia and Indonesia.
In 2016, Vietnam exported 1.7 million tonnes of rice to China, down from 2.1 million tonnes in 2015. Meanwhile, the figure to the Philippines reached 395,000 tonnes and 1.1 million tonnes for 2016 and 2015 respectively.
The association also added that Vietnam had faced strong competition from Thailand and India, the world's largest rice exporters. Thailand announced plans to clear its state stockpiles, estimated at around 9 million tonnes last August, making Vietnamese rice less competitive in major markets across Asia.
India also won many big rice export contracts from many countries, including China, the Philippines as well as those from Africa and the Middle East. Many South-east Asian countries such as Cambodia, Laos and Myanmar have also boosted their rice exports.
Experts said that another key factor is that Vietnam has long been focused on quantity rather than quality, which has actually backfired in terms of the country’s rice exports.
Vietnamese rice exporters are also faced with the risk of being banned from the United States after a series of pesticide residue scandals.
