Vietnam to have enough 8 million tonnes of rice for export
Vietnam’s rice output is expected to reach 43 million tonnes in 2024, which is able to ensure domestic consumption and export demand of more than 8 million tonnes, according to the Ministry of Agriculture and Rural Development.
In the first four months of 2024, Vietnam earns 2.08 billion USD from shipping 3.23 million tonnes of rice abroad. (Photo: VNA)
Hanoi (VNA) - Vietnam’s rice output is expected to reach 43 million tonnesin 2024, which is able to ensure domestic consumption and export demand of morethan 8 million tonnes, according to the Ministry of Agriculture and RuralDevelopment.
In the first four months of 2024, Vietnamearned 2.08 billion USD from shipping 3.23 million tonnes of rice abroad, up 36.5%in value and 11.7% in volume over the same period last year.
The surge in value was attributed to a22.2% rise in exported rice price to 644 USD per tonne since the beginning ofthis year.
Reports at a recent conference on riceexports in the Mekong Delta City of Can Tho show that due to El Ninoand climate change impact, the global rice output in the 2023-2024crop is forecast to drop to nearly 518 million tonnes, while the consumptiondemand is 525 million tonnes, which means that the world will face a shortage ofabout 7 million tonnes of the grain this year.
This is a good opportunity for riceexporters, including Vietnam. The country can supply 8.13 million tonnes tothe world this year while ensuring domestic food security at the same time.
The total volume of rice for export in theMekong Delta, the country's biggest production hub of the grain, in 2024 isestimated to reach about 7.6 million tonnes./.
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Vietnam has for the first time surpassed India and Thailand to become the largest rice exporter to Singapore by shipping 36.15 million SGD (26.55 million USD) worth of rice in the first three months of this year, an increase of 80.46% over the same period in 2023, winning 32.03% of the market share, according to the Vietnam Trade Office in Singapore.
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
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In the first four months of 2024, Vietnam earns 2.08 billion USD from shipping 3.23 million tonnes of rice abroad. (Photo: VNA) 
