Vietnam exported more than 2.1 million tons of rice by the end of the first quarter of 2024, valued at almost $1.4 billion—a 42% increase over the same period the previous year. 

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In the Philippine rice market, Vietnamese rice is up against strong competition. The agreement to purchase 108,000 tons of rice from Vietnam was closed by Indonesia. In comparison to the demand, Vietnam's rice exports to Senegal are still modest. Possibility of establishing links between Vietnamese spice and pepper markets 

Vietnam’s Rice Exports 

Vietnam's rice exports are among the top agricultural products with high growth rates, totaling more than $1 billion in the first three months of this year. Currently, the Philippines, Indonesia, China, Ghana, Malaysia, and Singapore are Vietnam's top export destinations for rice. The Philippines accounts for more than 38% of Vietnam's total rice exports. 

Countries planned to diversify their supplies as a result of their increased purchases and concerns about becoming overly dependent on Vietnam, according to the Ministry of Agriculture and Rural Development. This year,

the Philippines and Indonesia are attempting to raise domestic rice acreage and productivity. 

Projects from other nations are also helping to support rice production in the African market, which is Vietnam's traditional import area for rice, so that the country can become food independent. In order for businesses to become more competitive in the global market, the Ministry of Agriculture and Rural Development believes that they must diversify their markets and enhance the quality of their products. 

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