In the first three months of 2024, Vietnam exported more than 2.1 million tons of rice, worth nearly 1.4 billion USD. This was an increase of about 42% over the same period last year.
This is the latest data updated by Vietnam Customs. Accordingly, rice exports are now among the top agricultural products with a high growth rate, reaching over one billion USD in the first three months of the year.
Vietnam exported more than 2.1 million tons of rice, worth nearly 1.4 billion USD in the first quarter of the year.
This is because key markets such as the Philippines, Indonesia, China, Ghana, Malaysia, and Singapore all increased their purchases of Vietnam’s rice. In particular, the Philippines’ rice auctions in the first quarter were always dominated by Vietnam’s goods.
According to the Ministry of Agriculture and Rural Development, although many countries have increased their purchases of Vietnam’s rice, they are concerned about dependence on Vietnam. Therefore, they have planned to diversify their supply. For example, the Philippines and Indonesia are striving to increase productivity and rice area this year. In addition to supporting high-quality fertilizers and seeds, these countries provided more financial investment for domestic farmers to speed up the cultivation.
The Indonesian government has just decided to increase this year’s budget allocation for the fertilizer support program by 1.77 billion USD to about 3.41 billion USD as part of efforts to increase agricultural productivity in the country.
In the African market – Vietnam’s traditional rice importing region – rice production is also being supported through projects from other countries so that they can be self-sufficient in food.
The Ministry said that enterprises need to diversify markets and improve quality so that Vietnam’s goods are more and more competitive in the world.
Vietnam expects rice exports to reach 05 billion in 2024. Last year, the country’s rice exports were 8.13 million tons with a value of 4.7 billion USD – a record high. Vietnam now ranks 3rd in the world in terms of rice exports./.