Rice exports hit all-time high

According to the Department of Agriculture and Rural Development of Soc Trang province, in the first 6 months of 2024, the whole province of Soc Trang planted over 330,000 hectares of rice. To date, over 192,000 hectares have been harvested, with an output of 1.33 million tons.

Soc Trang province's rice exports reach all-time high

Of which, the output of specialty and high-quality rice accounts for more than 94%; specialty and aromatic rice of all kinds accounts for nearly 56% of the total rice output. Some of the main rice varieties grown are ST (ST24, ST25), Tai Nguyen, Dai Thom, etc.

Rice production in the first months of the year was relatively favorable. Farmers had high incomes, with an average profit of 20 - 40 million VND/ha.

In the 2023-2024 winter-spring crop alone, 60 companies, businesses and traders in the Mekong Delta region will link up and consume local rice production, with a total consumption scale of about 28,355 hectares, an increase of nearly 7,000 hectares over the same period. The consumption price ranges from 7,000 - 11,500 VND/kg (depending on the type of rice).

Thanks to that, in the first 6 months of 2024, the province's rice export value reached 325 million USD, an increase of nearly 56.7% over the same period. This is the highest rice export level ever achieved by the province.

From now until the end of the year, the provincial agricultural sector strives to increase rice output by nearly 802,000 tons, bringing the province's total rice output in 2024 to 2.13 million tons, an increase of nearly 7% compared to the plan.

Previously, according to a report from the Ministry of Agriculture and Rural Development, the country had harvested nearly 400,000 hectares of summer-autumn rice, with an estimated yield of 6.2 tons/ha. Abundant supply, while the world's demand for rice imports is increasing, has led many businesses to predict that rice exports will pick up by the end of this year.

It is expected that the country's rice production in 2024 will reach 43 million tons, with this output ensuring domestic consumption and export demand of about 8 million tons, and possibly earning more than 5 billion USD. The main markets buying Vietnamese rice in the last months of the year are still the Philippines, Indonesia, China, Ghana, Malaysia, Singapore...

In the first 6 months of 2024, rice export is still a bright spot, with output reaching 4.68 million tons and turnover reaching 2.98 billion USD, up 10.4% in volume and 32% in value over the same period in 2023.

The Ministry of Industry and Trade believes that in the coming time, if India abolishes or loosens its rice export policy, it will affect rice prices in a downward direction. However, the demand for rice in countries around the world is still high and Vietnam still has many opportunities to promote rice exports in the remaining months of 2024.

Source: https://congthuong.vn/soc-trang-xuat-khau-gao-dat-muc-cao-nhat-tu-truoc-den-nay-334030.html