Vietnamese rice holds the top position in Southeast Asia

In the first 7 months, Vietnam exported 5.18 million tons of rice with a turnover of 3.27 billion USD.

In July 2024, Vietnam exported nearly 500,000 tons of rice, bringing in 290 million USD. In the first 7 months, Vietnam exported 5.18 million tons of rice with a turnover of 3.27 billion USD, up 5.8% in volume and 25.1% in value over the same period in 2023, maintaining the top position in the Southeast Asian market.

According to the Ministry of Agriculture and Rural Development, the Philippines, Indonesia, and Malaysia are the three largest markets of rice export Vietnam. In the first 7 months of 2024, the amount of rice exported to the Philippines accounted for 38.2% of Vietnam's total rice exports. The average rice export price reached 632 USD/ton, up 18.2% over the same period last year. With impressive results in the first half of the year, businesses and experts expect that Vietnam's rice exports will continue to flourish in the second half of 2024.

However, the rice industry is also facing many challenges, such as climate change, resource depletion, and rapidly changing domestic and international markets. In this situation, on August 6, two ministries, the Ministry of Agriculture and Rural Development and the Ministry of Industry and Trade, had the idea and reached a high consensus on proposing the establishment of a National Rice Council.

The National Rice Council is an inter-sectoral coordination organization that advises the Prime Minister on research, direction, and coordination to resolve important issues of the rice industry. It proposes to the Prime Minister directions, solutions, and policies to promote the development of the rice industry; closely coordinates with ministries and branches to collect information, analyze, and evaluate the production and export situation. Based on the comments, Minister of Industry and Trade Nguyen Hong Dien requested that specialized units advise the leaders of the two ministries to promptly complete the draft to submit to the Government as soon as possible.

Source