The Ministry of Agriculture and Rural Development has reported that Vietnam’s rice exports hit 708 million USD in the first two months of 2024, an increase of nearly 50% compared to the same period last year. The figures promise a positive outlook for rice exports during 2024 as a whole, especially those to major markets.
Vietnam’s rice export turnover reached nearly 4 billion USD in the first 10 months of 2023, an increase of 35 percent over the same period last year and setting a new record by exceeding the 3.67 billion USD posted for 2012 as a whole.
Rice export volume and value during the first 11 months surpassed the figures of the entire 2022, and this year’s revenue is expected to reach 5 billion USD.
Vietnam’s rice production in 2023 stood at 43.5 million tonnes, an increase of 1.9%, adequately meeting domestic consumption, processing, animal feed production, and exports, which set a record of nearly 8.3 million tonnes.