With numerous new records and significant occurrences, Vietnam's rice sector concluded 2023 magnificently and made continuous progress on the map of international commerce. This industry set records in 2023 for output, export volume, and turnover value, creating a huge window of opportunity for the economy of the country. Numerous experts, managers, and companies have expressed their belief that both the domestic and international rice markets would remain active in the near future, with export rice prices expected to rise in tandem with global imports. rice. For the rice sector in Vietnam, this is a significant potential. 

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The Exports Of Rice From Vietnam Have A Bright Future In 2024

The potential for rice exports from Vietnam in 2024 is very bright. A number of significant markets have declared their intention to purchase rice from Vietnam. Specifically, a Vietnamese company has secured numerous significant export contracts. Vietnam is offered the chance to sell as much as 55,112 tons of rice, and Korea intends to organise nine opening bid procedures for acquiring rice from various nations. This early declaration from Korea would facilitate better preparation for Vietnamese enterprises and create avenues for the further promotion of premium rice in this market.

Additionally, the Philippines is getting ready to acquire rice in 2024—the most anticipated amount so far, projected at 3.8 million tons—with more than 80% of the imports coming from Vietnam. Since the start of the year, Viet Hung Co., Ltd. has received a sizable number of orders from partners in the Philippines. Specifically, it was recently announced that Vietnam was one of the five companies that won the competition to provide Indonesia with 500,000 tons of rice.

If you are a rice importer wishing to buy rice in bulk or a basmati rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie.com is a next-generation Saas platform that facilitates bulk agro-trade across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities at negotiable rates. The transaction oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries.

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