Despite challenges in the global rice market, Vietnam is on the right track to achieve a new export volume record of over 8 million tonnes in 2024, surpassing last year’s result, according to insiders.

The Ministry of Agriculture and Rural Development said Vietnam’s rice exports for the first 10 months of 2024 totalled nearly 7.8 million tonnes, valued at 4.8 billion USD, up over 10 % in volume and over 23% in value compared to the same period last year.

The Philippines, with its strong demand, remains Vietnam’s largest export market, accounting for over 45% of total rice exports.

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

Notably, Vietnamese companies recently secured 83,500 tonnes of rice in an October tender for 500,000 tonnes held by Indonesia.

This year, Vietnam’s rice production is expected to reach 43 million tonnes, ensuring a steady supply for both domestic consumption and export.

Published Date: November 23, 2024