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.
Customs data show that in the first half of November alone, the country exported 293,484 tonnes of rice. (Photo: VNA)
Hanoi (VNA) – 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.
Data also shows that in the first half of November alone, the country exported 293,484 tonnes of the grain.
According to the Ministry of Agriculture and Rural Development, the ten-month volume neared 7.8 million tonnes, valued at 4.86 billion USD, representing a 10.2% increase in volume and 23.4% in value from the same period last year.
The Philippines, with a strong demand, remained Vietnam's largest market, accounting for over 45% of the total exports. By the end of October, it had imported 2.91 million tonnes from Vietnam. Other key markets include Indonesia and Malaysia, with Malaysia experiencing the strongest growth in value among Vietnam's top 15 export destinations, seeing a 2.3-fold increase.
The Vietnam Trade Office in the Philippines anticipates that rice imports will continue to rise in the final months, driven by increasing domestic consumption and damage to the harvest caused by natural disasters. It is projected that the total volume of the grain imported by the Philippines this year could exceed 4 million tonnes.
🅷 Recently, Vietnamese companies secured 83,500 tonnes of rice in a tender for 500,000 tonnes held by Indonesia in October. Despite the influx of Indian rice, Indonesian buyers were willing to pay more for Vietnamese thanks to its superior quality./.
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’s rice exports are expected to reach a record turnover of about 5 billion USD this year, as high demand from many large and traditional markets, such as the Philippines and Indonesia, continues.
Vietnam exported 6.16 million tonnes of rice in the first eight months of this year, up 5.9% over the same period last year, the Ministry of Agriculture and Rural Development (MARD) has said.
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