Rice export surges in first ten months

In October only, rice export was estimated at 700,000 tons, raking in US$ 334 million in revenue. according to the Ministry of Agriculture and Rural Development (MARD).

In the January-September period, Asia is the biggest buyer of Vietnamese rice, accounting for more than 50 percent, followed by Africa and America. 

Among Asian importers, the Philippines was the largest importer of Vietnamese rice by occupying 43.9 percent of the market share with 2.47 million tons worth US$1.14 billion, up 35.3 percent in quantity and 22.1 percent in value in comparison with the same period last year.  

Globally, Ghana and the Ivory Coast remained stable markets for Viet Nam, with more than 18 percent of the total rice export.

Viet Nam’s rice export is likely to surpass the target set for this year, according to the Viet Nam Food Association.

Earlier, Viet Nam plans to sell 6.3-6.5 million tons of rice abroad this year, or 100,000–200,000 tons more than 2021.

At a meeting held last month, Deputy Minister of Agriculture and Rural Development Phung Duc Tien forecast that without abnormal weather and disease conditions, Viet Nam may produce 6.5-6.7 million tons of rice for export to pocket around US$ 3.2-3.3 billion./.