Vietnam’s rice output is expected to reach 43 million tonnes in 2024, which is able to ensure domestic consumption and export demand of more than 8 million tonnes, according to the Ministry of Agriculture and Rural Development.

In the first four months of 2024, Vietnam earns 2.08 billion USD from shipping 3.23 million tonnes of rice abroad. (Photo: VNA)

Hanoi (VNA) – Vietnam’s rice output is expected to reach 43 million tonnes in 2024, which is able to ensure domestic consumption and export demand of more than 8 million tonnes, according to the Ministry of Agriculture and Rural Development.

In the first four months of 2024, Vietnam earned 2.08 billion USD from shipping 3.23 million tonnes of rice abroad, up 36.5% in value and 11.7% in volume over the same period last year.

The surge in value was attributed to a 22.2% rise in exported rice price to 644 USD per tonne since the beginning of this year.

Reports at a recent conference on rice exports in the Mekong Delta City of Can Tho show that due to El Nino and climate change impact, the global rice output in the 2023-2024 crop is forecast to drop to nearly 518 million tonnes, while the consumption demand is 525 million tonnes, which means that the world will face a shortage of about 7 million tonnes of the grain this year.

This is a good opportunity for rice exporters, including Vietnam. The country can supply 8.13 million tonnes to the world this year while ensuring domestic food security at the same time.

The total volume of rice for export in the Mekong Delta, the country’s biggest production hub of the grain, in 2024 is estimated to reach about 7.6 million tonnes./.

VNA

Published Date: May 2, 2024