Rice exports surge 46%

That amounts to 2.18 million tons in volume, reflecting a 17.6% increase from the same period last year.

Meanwhile, the average export rice price also increased by 23.6% to $653.9 per ton.

According to preliminary statistics from the General Department of Customs, in March 2024, Vietnam’s rice exports increased by 99.7% in volume and 90% in turnover compared to February 2024, reaching over 1.12 million ton valued at $709.6 million.

The Philippines was the largest export market of Vietnamese rice in the first three months of 2024, reaching over 1.01 million tons, worth about $649 million.

The exports accounted for 46.4% of Vietnam’s total volume and 45.5% of the total value.

The export price to this market reached $641.7 per ton, up 27.3% compared to the first three months of 2023.

Rice exports to Indonesia ranked the second, increasing sharply by 199.7% in volume and 308.8% in revenue to 445,326 tons and $285.06 million. The average export price surged by 36.4% to $640 per tonne.

The third largest market was Malaysia with a growth of 28.8% in volume and 60.6% in turnover to reach 98,917 tons and $61.55 million, respectively.
In 2024, Vietnam aims to maintain rice cultivation area of 7.1 million hectares and rice output of over 43 million tons, ensuring domestic consumption and export of over eight million tonnes of rice.

The rice exports last year witnessed a breakthrough, with volume reaching 8.1 million tons worth $4.7 billion, up 14.4% in volume and 35.3% in value compared to the previous year. This is a record high export for Vietnam’s rice industry.

According to the Ministry of Industry and Trade, as of January 22, 2024, Vietnam had 161 eligible traders to export rice.