Rice export soars to record high in 2023

Total total rice output in the country increases 1.9% to 43.5 million tonnes. (Photo: VNA)

Hanoi (VNA) – 2023 is a successful year for Vietnam’s rice shipmentas export volume and prices hit an all-time high of 8.3 million tonnes and 4.78billion USD.

According to the Ministry of Agriculture and RuralDevelopment, the total rice output in the country increased 1.9% to 43.5 milliontonnes, meeting both domestic demand and export.

Export prices averaged 663 USD per tonne as a result ofhigh demand.

The year wasfull of difficulties for rice export as geo-political conflicts in the world disrupted food and input material supply. The El Nino phenomenon, whichposed a risk of contraction in food production, has triggered some countries’concern over supply for domestic demand. The suspension of grain export bycountries such as India, the UAE, and Russia also caused big supply pressure,thus mounting concern in the global food market.

However, as aleading exporter of farm produce, particularly rice, Vietnam still managed toguarantee national food security and export growth.

2023 is a successful year for Vietnam’s rice shipment as export volume and prices hit an all-time high of 8.3 million tonnes and 4.78 billion USD. (Photo: VNA)

Under thestrategy on developing rice export markets of Vietnam until 2030, agriculturalauthorities are ordering localities and key rice farming zones to conductrestructuring to produce more quality grain for export and raise the addedvalue.

The qualityof Vietnamese rice in the global market has also been further affirmed afterthe ST25 variety once again obtained the “World’s Best Rice” title recently.

Rice exporters said as global supply is stilllow, demand for Vietnamese rice will surge in 2024, especially from thePhilippines and China./.

VNA