Rice exports to set record of 9 million tonnes this year
Rice exports are likely to hit a record high of 9 million tonnes in 2024, given a total volume of nearly 8.5 million tonnes shipped abroad in the first 11 months, according to insiders.
Vietnam exports 700,000 tonnes of rice in November (Photo: VNA)
Hanoi (VNA) – Rice exports are likely to hit a record high of 9 million tonnes in 2024, given a total volume of nearly 8.5 million tonnes shipped abroad in the first 11 months, according to insiders.
Statistics from the Ministry of Agriculture and Rural Development show that Vietnam exported 700,000 tonnes in November for 444.9 million USD, bringing the total volume and value in the 11 months to nearly 8.5 million tonnes and 5.31 billion USD, up 10.6% and 22.4% respectively year-on-year.
The Philippines was the largest importer of Vietnamese rice in the first 10 months of this year, accounting for 46.1% of the market share. It was followed by Indonesia and Malaysia, with respective proportions of 13.5% and 8.2%. Compared to the same period last year, the value of rice exports to the Philippines surged by 59.1%, while shipments to Indonesia and Malaysia increased by 20.2% and 2.2 times, respectively.
Among the top 15 markets, Vietnam saw the strongest rice export growth in Malaysia. Conversely, China experienced the sharpest decline, with a 71.3% drop.
🎃 This marked the first time Vietnam’s rice export value has exceeded 5 billion USD, as the average export price in the first 11 months of 2024 reported a year-on-year rise of 10.6% to around 627.9 USD per tonne./.
According to the General Department of Customs, Vietnam’s rice exports had reached 8.05 million tonnes as of November 15, bringing home 5.05 billion USD.
Despite challenges in the global rice market, Vietnam is on the right track to achieve a new export volume record of over 8 million tonnes in 2024, surpassing last year’s result, according to insiders.
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