This marked a 14.4% increase in volume and a 35.3% rise in value from the previous year, despite challenges from the El Nino weather pattern.

The surge in exports is partly attributed to India's export ban on non-basmati white rice, which has affected global rice trade.

Farmers harvest rice in southern province of Kien Giang.

India, a major player in the global rice market, contributes 40% to the worldwide rice trade. Its largest buyers include Iran, Saudi Arabia, and China.

In 2023, several countries increased their rice imports from Vietnam as the global supply dwindled. A rice export business director from Dong Thap Province said some countries that typically imported little rice from Vietnam began placing substantial orders.

The ongoing Indian export ban has left many countries seeking reliable rice sources, creating an optimistic outlook for Vietnam's rice exports in 2024.

In 2023, the Philippines was the largest importer of Vietnamese rice, purchasing 3.1 million tons, followed by Indonesia, China, and Ghana. Vietnam now is the world's fifth-largest rice producer and third-largest exporter.

Vietnam promotes rice exports to China

A delegation of the Ministry of Industry and Trade (MoIT) led by Deputy Director of the ministry’s Agency of Foreign Trade Tran Quoc Toan and representatives from 19 Vietnamese rice exporters have paid a working visit to Beijing, China to promote Vietnamese rice in the market.

Rice export prices hit 15-year high

Vietnam’s 5% broken rice has risen to a 15-year peak of $653 per ton, exceeding that of competitors Thailand and Pakistan.

Vietnam rice export price climbs amid thin supply

Vietnam's rice price continues to rise as the harvest season ends, creating a shortage of supply.

Vietnam sets new record in rice exports

Vietnam exported 3.66 billion USD worth of rice in the first nine months of 2023, up 40.4% from last year and surpassing the record of 3.65 billion USD set in 2011.

Rice exports all set for record high this year

Vietnam’s rice exports are likely to reach record volumes this year on the back of burgeoning global demand and its large output.

Source: VnExpress