Vietnam’s rice exports are projected to exceed 5 billion USD this year, fueled by robust global demand and stable prices.
Between January and July, Vietnam shipped over 5.1 million tonnes of rice worth 3.2 billion USD aboard, up 25% in volume and 5.8% in value annually, the Ministry of Agriculture and Rural Development reports.
According to the Vietnam Food Association, the average export price of Vietnamese rice reached a record high of 636 USD per tonne, surpassing major competitors like Thailand, Pakistan, and India.
Traditional markets such as the Philippines, Indonesia, and China continue to be major buyers. New markets include the Middle East, Africa, South America, the Republic of Korea, and Japan.
The superior quality of Vietnamese rice is exemplified by the ST25 variety being twice named “World’s Best Rice.”
The global rice market is facing a shortage of 7 million tonnes this year, with some countries imposing export restrictions and others building up reserves.
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