Increase in Consumption of Rice Anticipated to Drive Vietnam Rice-Paddy Industry: Ken Research

Rice paddy is a flooded or irrigated field where rice is grown. Rice is a most important crop that is used as a primarily food source, providing 21% of energy and 15% of protein for humans. It is also a main source of income for millions of households in rural area of Vietnam country as well. It consists of various parts for instance endosperm, awn, hull, bran layers, and germ (embryo).

According to study, “Vietnam Rice-Paddy Industry Comprehensive Report Q4/2019” the key companies operating in the Vietnam rice-paddy industry are Vinafood I, Vinafood II, Kigimex, Tan thanh an company limited, Tin thuong investment trading JSC, Vietnam intimex joint stock corporation, Thuan minh import export corporation, Tan dong tien JSC, Agricam, Gia international Corp.

Based on rice variety, Vietnam rice-paddy market is segmented into Japonica, Glutinous, Indica and Aromatic. Based on rice type, market is segmented into milled rice, rough rice, brown rice, parboiled rice and others (wild rice, etc.). Based on grain size type, market is segmented into long grain white rice (high quality), long grain white rice (low quality), long grain parboiled rice, long grain fragrant rice, broken  and  medium  grain milled. The long rice (high quality) is one of the superior class rice and it is not consumed on a regular basis. Based on distribution channel, market is segmented into departmental stores, hypermarkets or supermarket, and others. In addition, based on application, market is segmented into pet food, food consumption and beer processing.

The Vietnam rice-paddy market is driven by growth in fast food industry & restaurants, followed by increase in consumption of rice, rise in per capita income and increase in number of diabetic & obesity patients (brown rice). However, decline in investments made in productivity research may impact the market. Moreover, growth in production of genetically modified (GM) rice to determine the quality of rice & food security is a key trend for market.

Currently, Vietnam holds fifth rank in the rice consumption volume. In which, 68% of the total volume is used for humans, 25% is used for animal feed industry and 7% is used for other purposes for instance the demand for rice in the industrial-scale food processing industry, especially for wine and beer industry. Apart from this, Vietnam country is also a third largest exporter of rice and it is expected that the total exports will be reached at 7 million tons owing to increase in rice demand from Southeast Asia, majorly from Philippines. Over the past decade country has increased its rice productivity & profitability and significantly reducing poverty. The consumption of rice is growing at firm rate as per the slow population growth rate, having domestic milled rice demand predictable to be nearly 2 million tons annually. Vietnam has poor weather condition in months of winter-spring, but the months of May-June are most appropriate for cultivation of rice. Thus Indica rice variety demand produced in country spur up, boosting the exports of rice. In upcoming years, it is anticipated that future of the market will be bight as a result of convenient weather for plants to grow & develop during the forecast period.

For More Information on the research report, refer to below link:-

Vietnam Rice-Paddy Industry

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Vietnam Rice-Paddy Market Research Report : Ken Research

Vietnam Rice Paddy output in 16/17 season was estimated at xxx.x million tons, up 10.2 million tons over last year, equivalent to 2.08%-the record volume in history, in which the consumption was at xxx.xxx million tons, up 1.68% over the same period. The main reason for the 16/17 rice season record increase was the expansion of rice cultivation area after the El Nino incident in the 15/16 season ended. The total area of global rice cultivation in 16/17 season reached 161.1 million hectares, an increase of 2.3 million hectares compared with the 15/16 season. The average rice consumption per capita in the world in 2016 reached 54.57 kg per person, lower than 2006 with 56.5 kg per capita.

Asia is the largest rice producer and consumer in the world. The rice output volume of the 16/17 season reached the record of xxx million tons. The cultivation area of the region increased by 0.5 million hectares to 145.3 million hectares while rice consumption accounted for nearly 90% of global rice consumption. Global rice exports in the 2016/17 season are up 2% over the 2015/16 season, reached xx.x million tons (export volume ranked second in history, after the 2013/14 season with 44.1 million tons).

Rice is the main food crops and also the main source of income for millions of rural households in Vietnam. The area of rice cultivation in March 2018 was estimated at x.xx million hectares of winter-spring rice, down 18.4 thousand hectares and equal to 99.4% over the same period last year, in which 1.09 million hectares was in the north, equal to 97.9%; Southern provinces reached 1.97 million hectares, equivalent to 100.2%. According to the preliminary report of localities, the rice output of the 2017-2018 season in the whole Mekong Delta reached xxx,x thousand hectares, an increase of 9.3 thousand hectares compared to the last season; The productivity was estimated at 46.1 quintals per hectare, increasing 7.4 quintals/hectare; The output reached xxx,x thousand tons, up 182.8 thousand tons.

In recent years, Vietnamese rice has penetrated and increased its export volume to some high-end markets such as Hong Kong, Singapore, Australia and Japan. However, Vietnam's main export markets are Asia (accounting for 70%) and Africa (accounting for 14%). The rice exports of 2017 rice reached x,xxx thousand tons increased by 20.4%, the rice export turnover x,xxx thousand USD, up 21.2%. In 2017, China is the largest rice importer of Vietnam, accounting for 40% of Vietnam's total export volume of x,xxx thousand tons, up 35.2% over the previous year.

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https://www.kenresearch.com/agriculture-and-animal-care/farming/vietnam-rice-paddy-standard/155418-104.html

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Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249