Indonesia, Vietnam's second-largest rice export market, may not import rice by 2025.
According to the latest preliminary statistics of the General Department of Customs, as of November 15, Vietnam's rice exports reached more than 8 million tons, earning nearly 5.05 billion USD, up 9.16% over the same period in volume but up 21.49% in export turnover.
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| Indonesia is the second largest market for Vietnamese rice with 655 million USD, up 20.24% over the same period last year (Photo: VNA) |
Notably, this is the first time in history that the export turnover of this item has exceeded 5 billion USD thanks to the high export price of rice from the beginning of the year, with an average price of 626 USD/ton, an increase of about 12% over the same period last year.
In terms of export markets, the Philippines is currently the largest importer of Vietnamese rice in the first 10 months of 2024, accounting for 46.93% of the total volume and 46.05% of the total rice export turnover of the country. Exports to this market reached nearly 3.64 million tons, equivalent to nearly 2.24 billion USD in the first 10 months of the year, up 38.38% in volume, 59.14% in turnover and 15% in price over the same period last year.
Second place belongs to Indonesia with nearly 1.09 million tons, equivalent to 655.21 million USD; accounting for 14.02% of the total volume and 13.48% of the total rice export turnover of the country.
Malaysia ranked third with 674,735 tons, equivalent to 399.88 million USD, accounting for 8.7% of the total volume and 8.22% of the total turnover.
According to the Vietnam Food Association (VFA), world rice prices have been rising again in the past week and Vietnamese rice remains the highest in the world. Specifically, Vietnam's 5% broken rice exports are at $520 per ton, while the same grade of Thai rice is $493 per ton, Pakistani rice is $455 per ton and Indian rice is $453 per ton.
However, recently, sharing with the press, Mr. Zulkifli Hasan - Coordinating Minister for Food Affairs of Indonesia - said that this country may not import rice by 2025 (according to Reuters).
Indonesia's rice output is estimated to fall 2.43% this year to 30.34 million tonnes as dry weather in 2023 slowed planting and harvesting, according to data from the country's Statistics Bureau.
Indonesia's rice imports have skyrocketed in the past two years, reaching more than 3 million tons per year. This year, the country aims to import 3.6 million tons of rice. In parallel, Indonesia also plans to expand from 750,000 to 1 million hectares of rice land by 2025 to achieve the food self-sufficiency goal set by President Prabowo Subianto.
Accordingly, Mr. Zulkifli Hasan commented that if Indonesia needs to import rice next year, it may only be a small amount depending on supply. At the same time, the amount of rice allocated this year that has not been completed will be transferred to next year. As Vietnam's second largest rice import market, the fact that Indonesia may not import rice in 2025 is considered bad news for Vietnamese rice.
Source: https://congthuong.vn/xuat-khau-gao-lo-ngai-gap-kho-tai-thi-truong-trong-diem-361088.html
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