World: Vietnam's rice exports in 2024is expected to fall; prices in India reached a record high

Rice

Indonesia

Thailand

Published Mar 19, 2024

Tridge summary

Vietnam's rice exports are expected to decrease to 6.5-7.0 million metric tons this year, down from 8.1 million tons in the previous year, as the country shifts its focus to exporting higher-quality, higher-priced rice. Despite this, there was a 14.4% increase in exports to 663,000 tonnes year-on-year to mid-February. The demand is driven by countries like Indonesia, the Philippines, Malaysia, China, and Africa due to the expected continuation of El Niño until at least mid-2024. By 2030, Vietnam aims to further reduce its annual rice exports to 4 million tonnes and diversify its customer markets.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

(By Planeta Rice) Vietnam's rice exports are estimated at 6.5-7.0 million metric tons this year, down from last year's record of 8.1 million tons, according to a report by the Food Association from Vietnam. The Southeast Asian country, the world's third-largest rice exporter after India and Thailand, had already signaled that it would gradually reduce its global export volumes to focus on higher-quality, higher-priced rice, while while adapting to climate change and ensuring domestic food security. Exports in the year to mid-February rose 14.4% from a year earlier to 663,000 tonnes, according to the report presented at an international rice conference this week and reviewed by Reuters. “Demand from Indonesia, the Philippines, Malaysia, China and Africa has increased, as El Niño is expected to last until at least mid-2024,” the report states. Vietnam announced last year that it would reduce annual rice exports to 4 million tonnes by 2030, according to a government document ...

Source: Planetaarroz