- Vietnam's rice export increased sharply
- Strategy on rice export market development until 2030 approved
- Rice exports maintain growth momentum
In the first half of July, Vietnam exported about 249,273 tons of rice, with a turnover of USD 135.45 million. Accumulated from the beginning of the year to July 15, the whole country exported more than 4.48 million tons of rice, with a turnover of nearly USD 2.4 billion, an increase of more than 17% in volume and an increase of 28% year-on-year, according to the General Department of Customs.
The growth in turnover is higher than the growth in volume, therefore the average value of each ton of rice exported this year is also higher than the same period in 2022. Export prices averaged $539 per ton, up 10.2% year-on-year.
All three largest export markets of Vietnam are in Asia including: Philippines, China and Indonesia, with the results recorded respectively (updated by market in the first 6 months) as follow: 1,698,593 tons, USD 857.7 million; 677,387 tons, USD 390.6 million; 492,801 tons, USD 244 million.
According to the Vietnam Food Association, this year rice exports have the most favorable conditions, especially when the production has achieved great success when the rice variety structure has many changes and high yield. Import demand in traditional markets such as the Philippines, China and Malaysia have all increased sharply.
Along with that, rice exports to new markets such as Indonesia and a few African countries increased dramatically. In addition, Vietnam has carried out further trade promotion in niche markets for fragrant rice and increasingly has its own position, which has helped the export to have more achievements.
According Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department, Ministry of Industry and Trade, despite the difficulties of commodity exports in general, many products still achieved high results, including rice exports. This is also a very positive result, showing the efforts of enterprises in expanding the market as well as the recovery of export activities.
With the situation of rice exports in the world at the present and in the last 6 months of the year, along with rising rice prices, the export target of about 7.2 million tons of rice with value of more than USD 4 billion, is within reach. This will be a record high for Vietnam's rice exports.
The situation of rice export is facing many advantages, but besides rice consumption, one of the other important goals is to ensure food security.
