[December 22nd] Rice exports expected to hit $5B this year

In 2023, the rice farming area nationwide is 7.1 million ha with productivity estimated at 6.08 tonnes of unmilled rice per ha and total output at 43.1 million tonnes, up about 420,000 tonnes from last year.

Some 7.75 million tonnes of milled rice was exported during the first 11 months of this year to bring home an estimated $4.41 billion in revenue, respectively rising 16.2% and 36.3% year on year. Export prices averaged $568 per tonne during the period, up 17.3%, according to the Department of Quality, Processing and Market Development under the Ministry of Agriculture and Rural Development (MARD).

The export volume has been kept at around 6 million tonnes and increased over years, with annual value continually topping $3 billion, statistics show.

At a workshop held in the Mekong Delta province of Hau Giang on Dec. 13, MARD Deputy Minister Tran Thanh Nam said the rice sector plays a crucial role in the agriculture of Vietnam and many other countries in the region and the world.

Domestic and international rice markets will remain vibrant in the time ahead due to big import demand from China, Indonesia, the Philippines, the Middle East, and Africa, he forecast.

Source: VN Express