Vietnamese rice firmly holds the top position in the Southeast Asian market

Published 2024년 8월 7일

Tridge summary

In July 2024, Vietnam emerged as the winning bidder for exporting rice to Indonesia, securing 185,000 tons out of the total 320,000 tons offered in a competitive bidding process against Thailand and Myanmar. The country's rice exports from January to July reached 5.18 million tons, valued at 3.27 billion USD, marking a 5.8% increase in volume and a 25.1% increase in value compared to the previous year. The average export price was 632 USD/ton, a significant 18.2% higher than the previous year. Vietnam dominates the southeast Asian rice market, with the Philippines, Indonesia, and Malaysia as its primary export destinations, accounting for 38.2%, 16%, and 12% of the total exports, respectively. The demand for Vietnamese rice in these countries has surged due to India's ban on rice exports and the recovery in tourist arrivals in Singapore, where Vietnam is the leading rice exporter.

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Original content

Source: Vneconomy.vn The Ministry of Agriculture and Rural Development said that in July 2024, Vietnam exported nearly 500 thousand tons of rice, bringing in 290 million USD. Accumulated in 7 months, Vietnam has exported 5.18 million tons of rice with a turnover of 3.27 billion USD, an increase of 5.8% in volume and an increase of 25.1% in value compared to the same period in 2023. Export price Average rice exports reached 632 USD/ton, up 18.2% over the same period last year. VIETNAM WINS THE BID TO EXPORT RICE TO INDONESIA According to the rice market website Ssricenews, the Indonesian National Logistics Agency (Bulog) has just announced the results of the rice bid opening in July 2024 with the quantity of 320,000 tons. At this bidding opening, rice businesses from Vietnam, Thailand and Mayanmar fiercely participated in the bidding. However, the victory belonged to Vietnam, while Thailand did not win any bidding packages. Accordingly, Vietnamese businesses won 7 out of 12 bidding ...

Source: AgroInfo.vn