According to the report of the Ministry of Agriculture and Rural Development, last November, our country exported an additional 700,000 tons of rice, earning nearly 445 million USD. By the end of November this year, rice exports jumped to nearly 8.5 million tons, worth 5.31 billion USD.

Compared to the same period last year, rice exports increased by 10.6% in volume and 22.4% in value. This item also set a historical record in both output and export value.

The average export rice price in the first 11 months of 2024 reached 627.9 USD/ton, an increase of 10.6% over the same period in 2023.

Data from the Vietnam Food Association shows that in the 5% broken rice export segment, Vietnamese rice prices are the most expensive among the world's top exporting countries. Specifically, the price of Vietnamese rice on December 3 was 517 USD/ton, 18 USD/ton higher than the same type of rice from Thailand, 64 USD/ton higher than Pakistani and 66 USD/ton higher than Indian rice, respectively.

The Ministry of Agriculture and Rural Development also said that as of October 2024, the Philippines is Vietnam's largest rice consuming market with a market share of 46.1%. Indonesia and Malaysia are the next two markets, with market shares of 13.5% and 8.2%, respectively.

Compared to the same period last year, the value of rice exports to the Philippines in the first 10 months of 2024 increased by 59.1%. Meanwhile, the Indonesian market increased by 20.2% and the Malaysian market recorded a sudden increase of 2.2 times.

However, exports to the Chinese market decreased sharply by 71.3% compared to the same period in 2023.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien informed that in the past 11 months, Vietnam's rice industry had a trade surplus of 4.07 billion USD, an increase of 14.6%. At the same time, Vietnamese enterprises also spent 1.24 billion USD to import various types of rice to serve consumption and production needs.

Experts and businesses explain that Vietnam's rice export prices are quite high compared to other countries. Therefore, domestic rice sources are prioritized by businesses for export. Meanwhile, the demand for rice for the production of vermicelli, cakes, pho, etc. is mainly low-grade rice, so businesses choosing imported goods will have a price advantage.

According to Deputy Minister Phung Duc Tien, Vietnamese rice is moving towards increasing value and quality, and reducing emissions.

Up to now, 95% of Vietnam's rice varieties are high-quality rice varieties, 89% of rice output is high-quality rice. Vietnam's average export price of rice remains at 627 USD/ton even though India has reopened its rice export race.

If Vietnam successfully implements the 1 million hectare high-quality, low-emission rice project, the value of the rice industry will certainly increase. That is the country's advantage, he emphasized.

Rice exports surpass 5 billion USD, still worried about not having a high-quality Vietnamese rice brand Rice exports officially surpassed 5 billion USD. However, the Deputy Director of the Department of Crop Production admitted that he still heard stories of "breaking deals" in trading and worried about not having a high-quality Vietnamese rice brand in the international market.