vietnam rice exports reach highest level in 32 years
Published on: December 7, 2023.
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Vietnam’s rice exports have reached a record high this year, surpassing the previous record set in 1989. From January to November, Vietnam exported nearly 7.8 million tons of rice, generating a turnover of US$4.4 billion. Experts predict that by the end of 2023, rice exports will reach eight million tons, valued at US$4.6 billion.
Nguyen Van Don, Director of Viet Hung Ltd Company, attributes the high demand for rice in the global market to the increasing prices of rice in other countries. Despite the rising prices, Vietnamese rice prices have remained stable due to a shortage of supply. Rice exporters in Vietnam are eagerly awaiting the new harvest season.
Recent reports indicate that Thai rice prices have risen by 5%, reaching US$632 per ton. This increase is partly due to the limited supply of Vietnamese rice. Meanwhile, Pakistani rice is priced at approximately US$600 per ton, and Vietnamese rice is priced at US$663 per ton.
Vietnamese rice products are highly sought after by importers due to their quality and freshness. The rice is exported immediately after harvest, ensuring its premium quality.
The global demand for rice remains high, especially with India temporarily halting its rice exports. This has caused a shortage in the market. The Philippines, the world’s largest rice importer, continues to rely on Vietnam for its rice supply. The government of the Philippines has even urged its traders to increase rice imports to secure national food reserves. Indonesia is also expected to face delays in its rice harvest in 2024, leading to the need for imports of approximately two million tons.
Overall, Vietnam’s rice export industry is thriving, and experts expect continued growth in the coming years. With its high-quality rice, competitive pricing, and steady demand, Vietnam is solidifying its position as one of the leading rice exporters in the world.
Source: [Vietnamplus](https://en.sggp.org.vn)
