Vietnam spent nearly 700 million USD to import rice.

According to the report of the Ministry of Agriculture and Rural Development, in the first 6 months of 2024, the whole country harvested 3.48 million hectares of rice, an increase of 0.5% over the same period last year; the average yield was 67.1 quintals/ha, an increase of 0.7 quintals/ha; the output on the harvested area reached 23.3 million tons, an increase of 1.6%.

Vietnam spent nearly 700 million USD to import rice.

In terms of export turnover, in the first half of 2024, Vietnam sold 4.68 million tons of rice of all kinds, earning 2.98 billion USD. Compared to the same period in 2023, rice exports increased by only 10.4% in volume but increased sharply by 32% in value due to the high export price of this item.

In the first half of this year, rice ranked 5th in terms of export turnover in the agricultural sector (after wood and wood products, seafood, vegetables, and coffee), and was also one of the items recording a high growth rate.

The report of the Ministry of Agriculture and Rural Development also stated that rice is in the Top 5 agricultural products with high trade surplus, reaching 2.31 billion USD, up 27% over the same period last year. Thus, in the first half of this year alone, our country had to spend about 670 million USD to import rice.

In 2023, our country also spent nearly 860 million USD to import rice from other countries. In particular, it mainly imported from Cambodia and India.

Experts and businesses say that Vietnam’s rice production meets consumer demand, ensures food security and has a large surplus of rice for export. However, our country still imports some rice products from other countries to serve the needs of production, processing and animal feed.

Source: https://congthuong.vn/viet-nam-da-chi-gan-700-trieu-usd-de-nhap-khau-gao-329139.html