MARD Deputy Minister Tran Thanh Nam said that the world’s economic difficulties and political instability cause significant difficulties for the export of goods in general and agricultural products in particular.

Illustrative photo.

However, Vietnam’s rice exports still achieved good results and became a bright spot in the country’s agricultural total in the first half of this year.

He said that the current situation of rice exports in the world and market development in the first six months of the year, especially as India recently banned exports of ordinary rice brings an opportunity for Vietnamese rice to make a breakthrough at the end of the year.

According to the Vietnam Food Association, in July, Vietnam’s rice exports continued to post significant growth.

In the first seven months of this year, the country exported more than 4.48 million tonnes of rice, getting a turnover of nearly 2.4 billion USD, up more than 17% in volume and 28% in value over the same period in 2022.

Rice export turnover increased sharply because of a sharp increase in Vietnamese rice prices from nearly 490 USD per tonne last year to more than 530 USD per tonne now.

According to the association, this year, rice exports have the most favourable conditions when domestic production grows positively as most of the rice-producing regions have converted to high-quality and high-value varieties. Moreover, in the world market, the demand for rice has increased sharply.

According to the General Statistics Office, in 2022, Vietnam's rice exports reached 7.1 million tonnes with a value of 3.46 billion USD, an increase of 13.8% in volume and 5.1% in turnover compared to the previous year.

Positive outlook for Vietnam’s rice exports

Vietnam’s rice exports witnessed decent growth in the first five months of 2023 in both established and new markets. It is forecast that rice export will continue growing in the coming months thanks to strong demand while global inventories have fallen to record lows.

Rice exports surge 54.5% in first four months

Vietnam earned 1.56 billion USD from shipping 2.95 million tonnes of rice abroad in the first four months of this year, increases of 54.5% and 43.6%, respectively, year-on-year.

Vietnam exports more than 1.85 million tonnes of rice in Q1

Vietnam exported more than 1.85 million tonnes of rice, worth 981.4 million USD, in the first quarter of this year, up 23.4% in quantity and 34.3% in value year on year.

Rice export prices on the rise

Vietnam’s rice export prices grew 9.2% year on year to $532 per tonne in the first quarter of 2023, said the General Department of Vietnam Customs.

Vietnam’s rice exports rise 30%

Vietnam’s rice export value rose 30.2% in the first quarter despite export volume falling 19.2%.

Source: VNA