Illustrative photo (Photo: VNA) The country earned 3.66 billion USD from exporting rice in the period, up 40.4% year-on-year, the ministry has reported.
The result was attributed to the increasing price of Vietnamese export rice, and the decreasing rice supplies in many markets during the reviewed period, it said.
Vietnam’s average price of exported rice in the first three quarters reached 553 USD per tonne, a 14% increase over the same period in the previous year.
The Philippines was the largest buyer of Vietnamese rice products in the first eight months, accounting for 40.3% of the total rice export. China and Indonesia ranked second and third, accounting for 13.5% and 12.4%, respectively.
Additionally, positive growth in rice exports has been also recorded in countries in the European Union, such as Poland, the Netherlands, Spain, and Belgium, and African nations such as Ghana and Angola.
Vietnam sets a new record in rice export revenue in the first nine months of 2023 thanks to the increasing price of exported rice. (Photo: VNA) President of the Vietnam Food Association (VFA) Nguyen Ngoc Nam stressed that there is ample room for rice exports to grow, especially as the Philippines needs to import an additional 1.1 million tonnes, while Indonesia plans to buy 2.3 million tonnes by the end of the year.
China’s demand for rice imports is also forecast to increase in the remaining months of the year, Nam said.
Rice exporters are advised to have appropriate strategies to ensure the ability to meet exports./.
VNA
