In 9 months of 2023, Vietnam’s rice exports reached 4.2 million tons. Notably, the three Asian markets including the Philippines, China, and Indonesia accounted for 65.4%. Indonesia emerged as a new “factor” with a 4-digit value.
The Philippines remains Vietnam’s largest rice export market.
According to the report of the General Department of Customs, by the end of September 2023, Vietnam exported nearly 6.42 million tons of rice, reaching a turnover of 3.54 billion USD. The average value was 551.5 USD/ton, an increase of 19.5% in volume and 13.7% in average value over the same period in 2022.
ASIA IS LEADING IN RICE IMPORTS FROM VIETNAM
In terms of rice export markets, the Philippines, China, and Indonesia are the top 3 markets; in which, the Philippines is still the largest rice export market of Vietnam.
Specifically, in the 9 months of 2023, rice export to the Philippine market was over 2.44 million tons, reaching a turnover of 1.29 billion USD. This result was down 1.1% in volume but up 12.8% in turnover over the same period in 2022. This country accounted for 38% of the volume and 36.5% of Vietnam’s rice export turnover.
China ranked second, accounting for 13.3% of the total volume and 14% of the total turnover, reaching 858,848 tons (equivalent to 495.78 million USD) and an average price of 577.3 USD/ton. This result was a strong increase of 37.2% in volume and 55.2% in turnover. Price increased by 13.1% compared to 9 months of 2022.
Vietnam’s rice exports to the Philippines, China, and Indonesia grow impressively.
Indonesia ranked third, reaching 884,177 tons (equivalent to 462.61 million USD), priced at 523.2 USD/ton. This country achieved a strong increase of 1,667% in volume and 1,794% in turnover. The price slightly increased by 7.2% compared to 9 months of 2022, accounting for 13.8% of the total volume and 13% of the total rice export turnover of Vietnam. This market is full of potential and there are constantly many positive signals of strong growth in recent times as well as in the coming time.
According to statistics of the General Department of Customs, exports to markets in the Regional Comprehensive Economic Partnership (RCEP) reached 4.64 million tons, equivalent to 2.49 billion USD, up 29.7% in volume and 46.9% in turnover.
Exports to markets in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTTP) reached 459,451 tons, equivalent to 247.33 million USD, up 7% in volume and 18.2% in turnover.
Exports to Southeast Asia alone reached over 3.75 million tons, equivalent to 1.98 billion USD, up 28.5% in volume and 45.6% in turnover.
Three markets in Asia including the Philippines, China, and Indonesia, accounted for 65.4% of the total rice exports in the 9 months of 2023./.