Vietnam’s rice industry ended 2023 with many brilliant marks in terms of production, volume, and export turnover. Along with that, there are many important events, such as the establishment of the Rice Industry Association, the International Rice Festival, and Vietnam’s rice won the world’s best rice.

According to many experts, managers, and businesses, in the coming time, the domestic and international rice market will continue to be vibrant. The export prices of rice will remain high as the world increases rice imports. This is a huge opportunity for Vietnam’s rice industry.

The picture of Vietnam’s rice industry in 2023 has many bright spots and impressive events.

In 2023, the rice industry achieved many extraordinary records.

First, rice exports in 2023 achieved records when the volume and value both peaked at 8.2 million tons and 4.78 billion USD, up 15.4% and 36.6% respectively compared to 2022. Vietnam’s No. 1 market continues to be the Philippines, which now accounts for about 35% of Vietnam’s rice export market share. In 2023, rice exports to this country reached 2.86 million tons, equivalent to 1.54 billion USD. It is followed by Indonesia, China, and African countries.

Second, Vietnam’s average export price surpassed competitors to reach the top of the world. According to information from the Vietnam Food Association (VF), the price of exported rice increased dramatically in 2023. In November 2023, the price of 5% broken rice reached 653 USD/ton, nearly 93 USD higher than the same product of Thailand (560 USD/ton) and Pakistan (563 USD/ton). Regarding 25% broken rice, Vietnam’s rice was sold at 638 USD/ton, 118 USD/ton higher than the same product of Thailand (520 USD/ton) and Pakistan 150 USD/ton (488 USD/ton).

“Vietnam’s rice being honored as the world’s best rice once again affirms the quality and prestige of Vietnam’s rice in the international market, which will certainly have a positive impact on the image of Vietnam’s rice as well as the export, especially high-quality rice”.

Mr. Nguyen Nhu Cuong, Director of the Department of Crop Production.

Vietnam’s rice industry ended 2023 with many brilliant marks.

Third, the production of harvested rice set a new record, thereby ensuring both domestic demand and meeting the record export volume of 8 million tons for the first time. One of the highlights is the proportion of fragrant rice varieties and specialty rice now accounting for the majority. Specifically, Dai Thom 8/OM18 accounts for 41%, OM5451 about 19%, and ST (21/24/25) about 9%.

Fourth, Vietnam’s rice was honored as the best rice in the world at the 2023 World Rice Conference held in Cebu – Philippines from November 28 to 30, 2023.

Fifth, for the first time, the Vietnam International Rice Festival was held (the previous rice festivals were only held on a domestic scale). Vietnam is aiming to become a pioneer in quality rice production, emission reduction, and green and sustainable development associated with the project “Sustainable development of one million ha of high-quality and low emission rice cultivation associated with green growth in the Mekong Delta by 2030”. The festival was held in Hau Giang from December 11-14, 2023.

Sixth, for the first time, Vietnam has a person holding the top leadership position of the International Rice Research Institute IRRI. In 2023, Mr. Cao Duc Phat, former Minister of Agriculture and Rural Development, and former Deputy Head of the Central Economic Commission, was elected by the entire IRRI as Chairman of the Board of Directors of IRRI.

IRRI is headquartered in the Philippines and has offices in 16 countries that provide rice scientists and producers with the genetic and material information needed to develop technologies to improve rice varieties and rice production. IRRI has a decades-long history of cooperation with Vietnam. Of 226 rice varieties grown in Vietnam, 25% selected by IRRI, 52% selected by Vietnamese scientists use IRRI-derived parent varieties./.