Vietnam sets new record in rice exports

Updated: 17:28, 06/10/2023

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.

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It is outstanding that Vietnam earned 3.66 billion USD with just 6.6 million tonnes in 2023 while in 2011 the country previously needed to export 7.1 million tonnes to bring in 3.65 billion USD.

Vietnam's rice exports have brought in 3.66 billion USD.

This is because Vietnam’s rice export prices have remained consistently high at 553 USD per tonne on average, up 14% from 2022. The prices approached 650 USD per tonne at times.

Currently Vietnam’s export prices are still topping the world while those of countries such as Thailand and Pakistan have dropped slightly.

According to the Vietnam Food Association, the income of the rice sector has improved considerably compared to previous years thanks to high prices.

Vietnam still has plenty of room to boost its rice exports as the Philippines and Indonesia are looking to import another 1.1 million tonnes and 2.3 million tonnes respectively by the end of the year.

China’s rice demand is also forecast to rise in the final months of the year.

Vietnam to earn over 4 billion USD from rice exports this year: MARD

The Ministry of Agriculture and Rural Development (MARD) has forecast that in 2023, Vietnam's rice exports will reach about 7.2 million tonnes, bringing home more than 4 billion USD.

8-month rice exports reach all-time high

Eight months into 2023, rice exports surged to an all-time high at nearly six million tons, a 20% increase compared to last year, reaching 89% of the target this year.

Vietnam farmers benefit from India's rice export ban

Farmers in the Mekong Delta, Vietnam's biggest rice production region, are selling at higher prices in the wake of an export halt imposed by India, the world's largest supplier.

Rice export prices reach 10-year high

The global decline of the rice supply and the impact of El Nino climate pattern have led to a sharp increase in the price of rice for export.

Agriculture ministers urges seizing opportunity to boost rice export

Minister of Agriculture and Rural Development Le Minh Hoan told a conference on July 6 that Vietnam should take advantage of the current opportunity to boost its rice exports.

Source: NDO