In 2023, the country's rice exports will reach 8.13 million tons with a value of 4.7 billion USD - a record for the Vietnamese rice industry.
This is the latest statistics from the General Department of Customs. Compared to 2022, rice exports increased by 14.4% in volume and 35.3% in value over the same period last year.
Vietnam is the world’s fifth largest rice producer and third largest exporter (by volume). Despite the impact of El Nino, Vietnam’s rice exports have increased dramatically.
According to businesses, Vietnam's rice exports have increased sharply since the Indian government issued a ban on non-basmati white rice exports in July 2023. To date, this ban has not been lifted, so it is expected that rice exports in 2024 will show many positive signs.
India currently accounts for about 40% of global rice exports, with Iran, Saudi Arabia and China being the largest customers. Several African countries rely heavily on rice from the South Asian country.
This year is also the year that many countries increased their rice imports from Vietnam, by 2-28 times compared to the same period last year. The Philippines is Vietnam's largest rice import market with more than 3.1 million tons; Indonesia imported about 1.15 million tons; China imported over 908,000 tons while Ghana imported about 576,000 tons...
The director of a rice exporting company in Dong Thap assessed that 2023 will be a year of increased import demand from many countries. In particular, many countries that previously only imported Vietnamese goods in small quantities are now looking to buy in large quantities.
Looking ahead to 2024, businesses say rice exports are still optimistic. Rice-importing countries are looking for stable supplies. India may continue to maintain restrictions on rice exports after the election and the impact of the El Nino phenomenon may last until mid-year.
Thi Ha
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