The Philippines remains Việt Nam’s largest market, which imported 2.91 million tonnes of rice by the end of October.

HÀ NỘI – Việt Nam’s rice exports had reached 8.05 million tonnes as of November 15, bringing home US$5.05 billion, according to the General Department of Customs.

Data also shows that in the first half of November alone, the country exported 293,484 tonnes of the grain.

According to the Ministry of Agriculture and Rural Development, the ten-month volume neared 7.8 million tonnes, valued at $4.86 billion, representing a 10.2 per cent increase in volume and 23.4 per cent in value from the same period last year.

The Philippines, with a strong demand, remained Việt Nam’s largest market, accounting for over 45 per cent of the total exports. By the end of October, it had imported 2.91 million tonnes from Việt Nam.

Other key markets include Indonesia and Malaysia, with Malaysia experiencing the strongest growth in value among Việt Nam’s top 15 export destinations, seeing a 2.3-fold increase.

The Việt Nam Trade Office in the Philippines anticipates that rice imports will continue to rise in the final months, driven by increasing domestic consumption and damage to the harvest caused by natural disasters.

It is projected that the total volume of the grain imported by the Philippines this year could exceed four million tonnes.

Recently, Vietnamese companies secured 83,500 tonnes of rice in a tender for 500,000 tonnes held by Indonesia in October. Despite the influx of Indian rice, Indonesian buyers were willing to pay more for Vietnamese thanks to its superior quality. — VNA/VNS

Published Date: November 26, 2024