According to data from the General Department of Customs, Vietnam exported 8.05 million metric tons of rice between the start of this year and November 15th, earning a record-breaking value of over US$5 billion.

Rice Exports From Vietnam

Rice exports increased 9.16% in volume and 21.49% in value over the same period last year, owing to high prices of rice, which averaged $626 per tonne, a 12% increase.

The Philippines is Việt Nam's largest rice import market, accounting for 46.93% of export volume, followed by Indonesia (14.02%) and Malaysia (8.7%).

The Việt Nam Food Association (VFA) reports that Vietnamese rice continues to be the most expensive globally.

Rice prices have dropped sharply since the end of October, when India, the world's largest rice exporter, lifted the ban on regular rice exports. According to VFA data, each tonne of 5% broken rice from Pakistan and Thailand decreased by approximately 5-10%, to around $457-490.

But in contrast to that overall pattern, Vietnamese 5-percent broken rice has risen once more since November 2021, reaching $510–520 per tonne at the end of last week, making Vietnam one of the world's top exporters of rice.

Vietnam’s Rice Imports

Việt Nam's rice imports surged by 73%, making it the world's third-largest importer of rice after Indonesia and the Philippines, despite setting a record value for rice exports.

Việt Nam imported $1.2 billion, or 3.2 million metric tons, in the first 10 months of this year.

There are a few things that could impact rice exports in the upcoming year.

Indonesia, the second-largest market for rice exports from Vietnam, might not import any rice in 2025, according to Coordinating Minister for Food Affairs Zulkifli Hasan. He went on to say that the nation wants to become self-sufficient in rice by 2027 in order to lessen its reliance on imports.

REFERENCE- vietnamnews.vn