The world rice market is changing erratically, creating great opportunities for export

Published 2024년 3월 4일

Tridge summary

Vietnam's rice industry is projected to maintain its global standing as one of the top three rice exporters in 2024, despite a recent decrease in export rice prices due to the country's main harvest season. The global rice supply disruption, caused by India's export restrictions, has led to increased demand for Vietnamese rice in South and Southeast Asia, sub-Saharan Africa, and Canada. Although prices have dropped, they are expected to remain at a good level due to high global demand.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

2023 is a year of great success for our country's rice industry. Vietnam continues to be one of the top 3 rice exporting countries in the world, accounting for about 15% of total global rice exports. Vietnam's rice export activities in 2024 continue to be optimistically forecast, with many positive signals both in terms of market and price. Rice supply is interrupted The Director General of the General Statistics Office (Ministry of Planning and Investment) said that global rice production in the 2023-2024 crop year will reach nearly 518 million tons, while total consumption is 525 million tons. Thus, it is forecast that the world will have a shortage of about 7 million tons of rice in 2024. This creates opportunities for rice exporting countries, including Vietnam. In 2024, Vietnam can completely meet the supply to export rice equal to 2023 but still ensure food security. Global rice supplies have been disrupted as supplies of rice varieties that India restricts exports ...
Source: Voh

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