| As of October 18, 170 traders are qualified to do rice export business. The Ministry of Industry and Trade has granted certificates to 161 traders who are qualified to export rice. |
Compared to the number of traders announced by the Ministry of Industry and Trade earlier (August 1), the number of traders has decreased by 6 traders.
Ho Chi Minh City is the leading locality in the number of rice export traders with 38 traders, followed by Can Tho with 34 traders (1 trader less than August 1), Long An with 21 traders (1 trader less than August 1).
According to data from the Ministry of Agriculture and Rural Development, in the first 9 months of 2024, Vietnam exported more than 7 million tons of rice, with a turnover of 4.37 billion USD. Compared to the same period in 2023, the volume of exported rice increased by 9.2%, and the value increased by 23.5%. Vietnam's average rice export price in the first 9 months of 2024 was 624 USD/ton, up 13.1% compared to the same period in 2023.
With signed orders, it is estimated that in the fourth quarter of 2024, more than 2 million tons of rice will be needed for export, bringing the total estimated rice export volume to more than 9 million tons. However, the domestic rice volume for export has run out, while the North is facing the risk of crop failure, with nearly 300,000 hectares of rice in the northern provinces flooded and damaged by storm No. 3. This is not a "rice granary" for export, but it also greatly affects the supply of this commodity in the domestic market, leading to a large amount of rice from the Mekong Delta, instead of being exported, being transferred to the North to meet domestic demand.
Faced with this situation, many businesses believe that in the last quarter of 2024, they will have to increase rice imports to meet export orders. In the first 9 months of 2024, Vietnam spent 996 million USD to import rice products to serve domestic production and consumption needs, an increase of 57.3% over the same period in 2023. This is also a record high in history, and far exceeds the import turnover of 860 million USD in 2023.
The Vietnam Food Association said that in the fourth quarter of 2024, domestic rice supply is currently limited, and some exporting enterprises will have to increase rice imports from neighboring countries to pay for export orders in the last months of the year. Therefore, if enterprises continue to participate in bidding for rice packages offered by Indonesia, they will have to increase imports from neighboring countries.
See the list of rice exporters as of October 8, 2024 here.
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