Despite challenges in the global rice market, Vietnam's is still on a right track to a new export volume record of over 8 million tonnes in 2024, surpassing last year’s result, according to insiders.

Vietnam earned 1.21 billion USD from exporting an estimated 2.83 million tonnes of rice during January-May, declining 20.7 percent in value and 4 percent in volume as compared to the same time last year, the Ministry of Agriculture and Rural Development said.

Vietnam earned 1.1 billion USD from exporting 2.16 million tonnes of rice in the first four months of 2018, up 35.7 percent in value and 21.7 percent in volume.

The Vietnam Food Association aims to ship 2 million tonnes of rice to foreign countries in the last five months of the year, increasing total rice export for the whole year to 5.2 million tonnes.

The price of Vietnamese export rice has hit a three-year high thanks to the rising import demands and the restricted svupply.

Encouraging signs for rice exports after a down-period have boosted the Vietnamese rice market.

Thailand’s plan to sell all its rice reserves of about eight million tonnes this year has sparked concerns that this move will undermine Vietnam’s rice exports.

Myanmar is eying on Pakistan in a bid to increase rice exports. It is competing with other regional countries such as Thailand, Vietnam, Cambodia, India and Pakistan on the rice market, despite lackin