Billion dollar markets for Vietnamese rice

Vietnamese rice has gone around the world to about 150 countries and territories.

According to preliminary statistics from the General Department of Customs, the Philippines, Indonesia, Malaysia and Ghana are the four markets that buy the most Vietnamese rice in 2024, with a turnover of up to 4.2 billion USD out of the total turnover of 5.67 billion USD of the entire rice industry.

The market with the biggest reversal last year was China, with exports to this market reaching less than 300,000 tons, worth 168 million USD.

Ministry of Industry and Trade explains, rice export 2024 will reach a record thanks in part to higher unit prices than previous years. Vietnamese rice will reach an average export unit price of 627 USD/ton (previously under 600 USD/ton), up about 9% compared to 2023.

Illustration photo.

Vietnamese rice has been exported to about 150 countries and territories around the world. Enterprises have also taken advantage of market opportunities from new generation free trade agreements. Besides traditional markets such as China, the Philippines, Indonesia, Malaysia, there are many new markets.

The 2024 Rice Market Report stated that Vietnam's rice exports in 2025 will likely decrease in both volume and price compared to 2024. The reason is due to weakening demand while competition increases between producing countries such as Thailand, India...

However, overall, with the ability to supply over 9 million tons of rice per year, a wide variety of rice varieties; and an increase in fragrant rice and high-quality rice, Vietnam continues to be an important "link" in the rice industry supply chain.

Source: https://baoquangninh.vn/nhung-thi-truong-ty-do-cua-gao-viet-nam-3342248.html