Vietnam's rice exports exceed 8 million tons

Published Dec 5, 2024

Tridge summary

Vietnam's rice exports in November 2024 were estimated at 700,000 tons with a value of 444.9 million USD, bringing the total exports for the first 11 months of 2024 to nearly 8.5 million tons and 5.31 billion USD. The average export price of rice was 627.9 USD/ton, a increase from the previous year. The Philippines is Vietnam's largest rice consumer market, followed by Indonesia and Malaysia. The demand for rice imports in the Philippines is expected to continue to increase due to domestic consumption and natural disasters. Vietnam is projected to have a rice export volume of over 8 million tons and a value of over 5 billion USD in 2024, with high-quality rice maintaining its competitive position in the world market.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Positive signals from large import markets According to statistics from the Ministry of Agriculture and Rural Development, the volume and value of rice exports in November 2024 are estimated at 700,000 tons and 444.9 million USD, bringing the total volume and value of rice exports in the first 11 months of 2024 to nearly 8.5 million tons and 5.31 billion USD, up 10.6% in volume and 22.4% in value over the same period in 2023. The average export price of rice in the first 11 months of 2024 is estimated at 627.9 USD/ton, up 10.6% over the same period in 2023. The Philippines is Vietnam's largest rice consumer market with a market share of over 45%. By the end of October 2024, the Philippines imported 2.91 million tons of rice from Vietnam, accounting for more than 79% of the total 3.68 million tons of rice imported by the Philippines. The next largest markets are Indonesia and Malaysia. In the group of 15 largest rice export markets of Vietnam, the export value of rice increased the ...

Source: Vietstock