From the beginning of the year to the end of July 15, 2023, Vietnam exported more than 4.48 million tons of rice. The turnover reached nearly 2.4 billion USD, up more than 17% in volume and 28% in value over the same period last year.
Rice exports become a bright spot.
According to data released by the General Department of Customs, in the first half of July 2023, Vietnam exported 249,273 tons of rice, with a turnover of 135.45 million USD.
From the beginning of the year to July 15, Vietnam exported more than 4.48 million tons of rice. The turnover reached nearly 2.4 billion USD, up more than 17% in volume and 28% in value over the same period last year.
Since the growth turnover is higher than the volume, the average value per ton of rice exported this year is also higher than in the same period in 2022. Specifically, from the beginning of the year to July 15, the average value reached more than 530 USD/ton, while it was only nearly 490 USD/ton in the same period last year.
According to the updates in the first half of 2023, Vietnam’s three largest export markets are all in Asia including the Philippines, China, and Indonesia with the results of 1,698,593 tons, 857.7 million USD; 677,387 tons, 390.6 million USD; 492,801 tons, 244 million USD, respectively. Export activities to the three key markets all had positive growth compared to the same period last year.
Previously, on July 20, 2023, the General Department of External Trade of India issued Notice No. 20/2023 prohibiting the export of all types of ordinary white rice. This decision takes effect from the date of signing. The Import-Export Department (Ministry of Industry and Trade) assessed that India’s policy of restricting rice export activities would affect the global rice trade market.
In response to this information, the Import-Export Department urgently sent a document to rice export traders and the Vietnam Food Association. To contribute to the consumption of rice; stabilize the rice price in the domestic market, and ensure food security, the Import-Export Department asked the Vietnam Food Association to urge members, especially large enterprises, to play a leading role such as the Northern Food Corporation, the Southern Food Corporation, etc. This is to organize the purchase and consumption of rice and ensure benefits for rice growers under current policies.
Rice exports grow strongly.
At the same time, the Import-Export Department requires its members to strictly comply with the provisions of Decree No. 107/2018/ND-CP of the Government on rice export business; regularly maintain the minimum circulation reserve as prescribed, ensure the balance of exports and domestic consumption, and contribute to stabilizing rice prices in the domestic market.
In addition, the Association needs to closely monitor the rice market; actively discuss difficulties arising in the supply and circulation of rice in both domestic and international markets to report and propose solutions to relevant ministries and sectors.
For traders, the Import-Export Department also proposed to strictly implement the provisions of Decree No. 107/2018/ND-CP on the purchase of rice to ensure the balance of domestic exports and consumption; maintain the level of circulation reserves as prescribed, contribute to stabilizing the rice prices in the domestic market and ensure food security; actively monitor the market, organize appropriate production and export plans, and ensure effective export. In particular, traders need to seriously implement the periodic reporting regime on the amount of rice, inventory, and the signing and implementation of rice export contracts./.