19-12-2023 (HANOI) Vietnam’s rice export sector has witnessed a remarkable performance, surpassing the figures of the entire previous year within the first 11 months of 2023. Authorities have reported that the country is expected to generate USD 5 billion in revenue by the end of this year.
The expansive rice farming area across the nation in 2023 covers 7.1 million hectares, with an estimated productivity of 6.08 tonnes of unmilled rice per hectare, resulting in a total output of 43.1 million tonnes. This marks an increase of approximately 420,000 tonnes compared to the previous year.
During the initial 11 months of the year, Vietnam exported 7.75 million tonnes of milled rice, generating an estimated USD 4.41 billion in revenue. These figures represent a substantial year-on-year increase of 16.2% and 36.3%, respectively. The average export price stood at USD 568 per tonne, reflecting a notable uptick of 17.3%, according to data from the Department of Quality, Processing, and Market Development under the Ministry of Agriculture and Rural Development (MARD).
Statistics demonstrate that the export volume has consistently hovered around 6 million tonnes, experiencing upward growth over the years, with annual values consistently exceeding USD 3 billion.
At a recent workshop held in the Mekong Delta province of Hau Giang, Deputy Minister of Agriculture and Rural Development, Tran Thanh Nam, emphasised the pivotal role of the rice sector in Vietnam’s agriculture and its significance in the broader context of the region and the world.
Nam projected continued vibrancy in both domestic and international rice markets, driven by substantial import demand from countries such as China, Indonesia, the Philippines, the Middle East, and Africa.
However, Nam acknowledged potential challenges as the growth in export volume may impact stockpiles in exporting nations, and higher export prices could lead to an increase in unmilled rice prices, subsequently influencing domestic prices of milled grains.
