Vietnam Achieves Record-Breaking Rice Export in 2023
Published on: January 11, 2024.
Filed under:
Vietnam Sets New Records in Rice Export Volume and Prices in 2023
Hanoi, Vietnam – Vietnam’s rice export industry has achieved remarkable success in 2023, with record-breaking volumes and prices, according to a report by Vietnam News Agency. The Ministry of Agriculture and Rural Development revealed that the country exported a total of 8.3 million tons of rice, earning an impressive 4.78 billion U.S. dollars in revenue.
One of the key factors contributing to this achievement is the high demand for Vietnamese rice, which has led to an average export price of 663 dollars per ton. This surge in demand has created favorable conditions for the industry, driving export volumes and boosting prices.
The report also highlights that Vietnam has experienced a 1.9 percent increase in rice production, resulting in a total output of 43.5 million tons. This growth in production is attributed to the expansion of farming areas and improved productivity. As a result, the country is able to meet both domestic and international demands for rice.
Looking ahead to 2024, rice exporters are optimistic about the industry’s prospects. With global rice supply still relatively low, the demand for Vietnamese rice is expected to soar, particularly from countries like the Philippines and China.
To meet this anticipated demand, Vietnam has set a target of producing 43-43.5 million tons of rice in the coming year. This ambitious goal reflects the country’s commitment to maintaining its position as a leading player in the global rice market.
In terms of financial projections, local media reports indicate that rice exports are predicted to generate approximately 5.3 billion dollars in revenue for Vietnam in 2024. This projected growth in export earnings further solidifies the importance of the rice industry to the Vietnamese economy.
For more information about Vietnam’s rice exporters and suppliers, visit [Has Rice](https://www.hasrice.com). You can also explore the comprehensive range of rice products from Pakistan at [Pakistan Rice](https://www.pakistanrice.com).
Source
