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Vietnam’s Export Turnover From Rice Increased Sharply In April 2023


Published Date: May 16, 2023
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As a matter of fact, Vietnam is one of the leading rice exporters of the world. It ranks after India and Thailand it the global rice trade and the Asian nation witnesses strong demand for different varieties of Vietnamese rice, all year round.

The same has been the case this time as well. According to report presented by the Ministry of Agriculture and Rural Development (MARD), Vietnam has recorded 1.56 billion USD from exports of rice itself in the month of April, 2023. 

Facts And Figures

Vietnam’s attempt to produce high quality rice to meet global consumption trends is finally bearing fruits. The same reflects in data as well. A look at the report presented by the Ministry of Agriculture and Rural Development (MARD) highlight that the Asian nation has earned 2.23 billion USD in the month of April 2023 through exports of agro-commodities. When compared with last year’s figure, this is 24% higher than what the Asian nation has earned through agro-exports in April, 2022. What’s striking is the fact that revenue from rice exports have grown by 54.5% YoY to stand at 1.56 billion USD in April 2023. 

This figure is significant in itself for the Asian nation as it witnessed a drop in rice exports both in terms of volume as well as value in the month of January itself. Back in January, 2023, Vietnam exported 400,000 tonnes of rice with a total worth of USD 203 million, down 20.9% in volume and 17.4% in value as compared to January, 2022.

Fast forward two months and we see Vietnam achieving a record breaking feat with its revenue from rice exports. Active rice exports have helped the Asian nation increase its volume by 19.3 per cent and revenue by 30.2 per cent in the January to March quarter of 2023.

Future Projections

After analyzing the report presented by the Ministry of Agriculture and Rural Development (MARD), experts and analysts believe that Vietnam has done considerably well. Patience and consistent efforts to grow and supply high quality rice has helped the Asian nation earn a record revenue through rice exports in April, 2023 and they believe that favorable demand is likely going to be of much help for Vietnam this year.

Increased demand for rice from countries around the world to create surplus reserves is going to be driving factor for Vietnam in the months to come. Also, owing to dry weather conditions, India-the leading rice exporter in the world does not intends to lift the ban on exports of broken rice or 20% tax on exports of white rice, which is likely to provide a much greater market for rice exporters of Vietnam.

The Bottom Line

Vietnam is the third largest rice exporter in the world and the Asian country ranks behind India and Thailand in the global rice trade. Efforts to grow and supply high quality rice has helped Vietnam earn record revenue from rice exports and according to data highlighted by the Ministry of Agriculture and Rural Development (MARD), Vietnam has recorded 1.56 billion USD from rice exports of rice in April, 2023.

If you are a Rice Exporter looking to export bulk rice or are a rice importer looking to import bulk rice, then Tradologie.com is the platform for you. Tradologie has over 600,000 verified buyers and 70,000+ verified suppliers in its network and through the platform, you can connect and conduct bulk trade of food and agro-commodities with ease.

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