The average export price of rice in January 2022 reached $486/ton, down 11.8% over the same period in 2021. The Philippines was Vietnam's largest rice consuming market in January 2022 with 44.8% market share. Rice exports to this market in January 2022 reached 234,000 tons and 110.2 million USD, up 37.8% in volume and 20.6% in value over the same period in 2021.

In January 2022, the market with the largest increase in rice export value was the Netherlands (6.5 times). In contrast, the market with the largest decrease in rice export value was Gana (down 71.3%).

"It is expected that Vietnam's rice exports will increase significantly from March 2022 with the traditional destinations of the Philippines and Africa," a representative of the Ministry of Agriculture and Rural Development informed.

Domestically, the rice market in the Mekong Delta provinces was not very active in February 2022 due to the Lunar New Year holiday, rice prices decreased slightly after Tet. Currently, traders are starting to buy rice before the upcoming Winter-Spring harvest.

Specifically, in An Giang, IR50404 rice is currently at 5,200 VND/kg, down 100 VND/kg compared to the beginning of February 2022 and 160 VND/kg lower than the average in January 2022; high quality rice OM 5451 at 5,300 VND/kg, down 200 VND/kg compared to the previous month; rice is usually at 11,000 VND/kg; jasmine specialty fragrant rice at 15,000 VND/kg, stable compared to the previous month.

In Kien Giang, IR50404 rice price is at 5,800 - 6,000 VND/kg, down 100 VND/kg compared to January 2022; OM 5451 high quality rice at 6,200-6,400 VND/kg, down 150 VND/kg compared to January 2022.

In Vinh Long, normal rice IR50404 remained unchanged at 5,600 VND/kg. In Bac Lieu, Dai fragrant 8 rice was at 6,600 VND/kg, down 400 VND/kg compared to the beginning of February 2022; ST24 rice is at 7,100-7,200 VND/kg, down 800 VND/kg in the end compared to the end of January 2022.

According to Customs Newspaper