Vietnam’s rice exports to surpass annual target

Vietnam’s rice export is likely to surpass the target set for this year, said Chairman of the Vietnam Food Association Nguyen Ngoc Nam.

During a conference co-hosted by the Ministry of Agriculture and Rural Development and the People’s Committee of the Mekong Delta city of Can Tho on September 22, Nam said Vietnam earned nearly US$2.4 billion from exporting 4.97 million tonnes of rice in the first eight months of this year, up 20.7% in volume and nearly 9.9% in value from the same period last year.

Vietnam plans to ship 6.3-6.5 million tonnes of rice this year, or 100,000–200,000 tonnes more than 2021.

Asia is the biggest buyer of Vietnamese rice, accounting for more than 50%, followed by Africa and America.

The Philippines alone bought over US$1 billion worth of Vietnamese rice, or nearly half of Vietnam's total export, mostly jasmine and hi-quality rice, up more than 47% year on year.

In the past eight months, China bought over 520,000 tonnes of rice from Vietnam, or about 10% of Vietnam's rice exports, down 29% annually. At present, the neighbouring country has huge demand for glutinous rice but supplies in Vietnam are insufficient.

Ghana and the Ivory Coast remained stable markets for Vietnam, with more than 18% of the total rice export.