Vietnam's Rice Exports Surpass Eight Million Tonnes

HANOI, Nov 26 (Bernama-VNA) – Vietnam’s rice exports reached 8.05 million tonnes as of Nov 15, generating US$ 5.05 billion, according to the General Department of Customs.

Data indicated that the country exported 293,484 tonnes of rice in the first half of November alone, Vietnam News Agency reported.

According to the Ministry of Agriculture and Rural Development, the ten-month export volume approached 7.8 million tonnes, valued at US$ 4.86 billion, marking a 10.2 per cent increase in volume and a 23.4 per cent rise in value compared to the same period last year.

The Philippines, driven by strong demand, remained Vietnam’s largest market, accounting for over 45 per cent of total exports. By the end of October, it had imported 2.91 million tonnes from Vietnam.

Other key markets include Indonesia and Malaysia, with Malaysia experiencing the strongest growth in value among Vietnam's top 15 export destinations, recording a 2.3-fold increase.

The Vietnam Trade Office in the Philippines anticipates that rice imports will continue to rise in the final months of the year, driven by increasing domestic consumption and damage to the harvest caused by natural disasters.

It is projected that the total volume of grain imported by the Philippines this year could exceed four million tonnes.

Recently, Vietnamese companies secured 83,500 tonnes of rice in a tender for 500,000 tonnes held by Indonesia in October. Despite the influx of Indian rice, Indonesian buyers were willing to pay more for Vietnamese rice due to its superior quality.

-- BERNAMA-VNA