Rice exports to set record of 9 million tonnes this year
Rice exports to set record of 9 million tonnes this year
Rice exports are likely to hit a record high of nine million tonnes in 2024, given a total volume of nearly 8.5 million tonnes shipped abroad in the first 11 months, according to insiders.
Rice packs loaded for export. — VNA/VNS Photo |
Statistics from the Ministry of Agriculture and Rural Development show that Việt Nam exported 700,000 tonnes in November for US$444.9 million, bringing the total volume and value in the 11 months to nearly 8.5 million tonnes and $5.31 billion, up 10.6 per cent and 22.4 per cent respectively year-on-year.
The Philippines was the largest importer of Vietnamese rice in the first 10 months of this year, accounting for 46.1 per cent of the market share. It was followed by Indonesia and Malaysia, with respective proportions of 13.5 per cent and 8.2 per cent. Compared to the same period last year, the value of rice exports to the Philippines surged by 59.1 per cent, while shipments to Indonesia and Malaysia increased by 20.2 per cent and 2.2 times, respectively.
Among the top 15 markets, Việt Nam saw the strongest rice export growth in Malaysia. Conversely, China experienced the sharpest decline, with a 71.3 per cent drop.
This marked the first time Việt Nam’s rice export value has exceeded $5 billion, as the average export price in the first 11 months of 2024 reported a year-on-year rise of 10.6 per cent to around $627.9 per tonne.
