According to the General Department of Customs, Vietnam’s rice exports had reached 8.05 million tonnes as of November 15, bringing home 5.05 billion USD.
Despite challenges in the global rice market, Vietnam's is still on a right track to a new export volume record of over 8 million tonnes in 2024, surpassing last year’s result, according to insiders.
Vietnam’s rice industry is experiencing a golden period, with exports projected to surpass 5 billion USD this year, fueled by robust global demand and stable prices, according to experts.
Rice exports could bring in a record turnover of 5 billion USD this year if the pace of shipment is maintained like at present, according to Vu Tuan Anh, CEO of GLE company, a rice exporter.
Vietnam exported 4.68 million tonnes of rice in the first six months of this year, earning 2.98 billion USD, according to the Ministry of Agriculture and Rural Development.
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
The agriculture sector and traders have expressed their high optimism about rice exports this year given high prices and stable markets, helping the grain remain a big foreign currency earner.
Rice exports reached a record 5.81 million tons in the first eight months of this year, a 21.4% increase over the same period of 2022. Rice export turnover in the period therefore came in at nearly 3.16 billion USD, an increase of more than 35.7%.
The Ministry of Agriculture and Rural Development (MARD) has forecast that in 2023, Vietnam's rice exports will reach about 7.2 million tonnes, bringing home more than 4 billion USD.