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The data shows a reversal trend because China used to import quite a few rices from Vietnam. On the other hand, if Vietnam used to import many phones and phone components from China, it will now change direction.
China increased Vietnamese rice purchases with an increase of almost four times compared to the same period last year. The price that merchants buy in this country is also much higher than the average of the markets that Vietnam sells.
According to Vietnam Customs data, the total amount of Vietnamese rice exported to China in the first three months of the year reached 162,000 tons, representing 11% of Vietnam’s export volume.
The price of rice imported by China from Vietnam averaged 12.7 million dong / ton, an increase of more than 1.7 million dong / ton compared to the average price of rice imported from Vietnam last year.
Meanwhile, Vietnam’s rice export price in the first 3 months exceeded 10.7 million dong / ton. Therefore, on average, the price of Chinese rice imported from Vietnam is 2.7 million dong / ton higher than the price of rice sold by Vietnam to other countries.
Vietnam’s increased purchases of rice from China during the Covid-19 season to meet the country’s possible food shortage. China’s increasing import of Vietnamese rice also poses a problem for Vietnam to balance exports and regulate markets.
It is worth noting that the price of rice that China imports from Vietnam is now much higher than Vietnam’s number 1 “rice customer” in the Philippines.
In the past three months, the Philippines has imported more than half a million tons of Vietnamese rice, the average price is only 9.9 million VND / ton, this price is lower than Vietnam’s import from China at 2.8 million VND / ton. .
In addition to rice, in the past 3 months, China has increased imports of computer products, electronic products, components and telephones and components from Vietnam.
Vietnam Customs data showed that in the past 3 months, Vietnam’s computers, electronics and components exported to China reached $ 2.5 billion, more than $ 730 million (equivalent to 41%). during the same period last year.
Computers, electronics, components from Vietnam exported to China in the past 3 months reached $ 1.9 billion, an increase of $ 1.4 billion over the same period last year, an estimated increase of nearly 3 times (equivalent to an increase of about 274%).
Although China has increased imports of some products from Vietnam, many products from Vietnam to China have decreased dramatically, including shellfish, crude oil, minerals, and minerals.
Specifically, the import turnover of Chinese fishery products from Vietnam in the last three months decreased by more than US $ 56 million, reaching only US $ 140 million. Vietnam’s crude oil exported to China decreased by 50% in volume, reaching almost 280,000 tons; Vietnam’s mineral and mineral exports to China also fell from more than 440,000 tons last year to 360,000 tons in the past three months.
A linh
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