Rice exports set new records in both volume and value in 2024 but the commodity is expected to face a difficult year ahead as India lifted its ban on non-basmati white rice exports in September, which will push up global rice supplies next year.

Despite the country’s status as one of the world’s leading rice exporters, Vietnam is expected to spend nearly US$1 billion on rice imports for processing this year.

Indonesia has announced a record rice tender for September, seeking to acquire up to 450,000 tonnes from international suppliers.

With the current uncertainties in the global rice market, Indonesia's call for larger rice tenders is a major opportunity for exporters, particularly those from Vietnam.

Vietnam's rice export prices have reached the highest levels globally, surpassing those of Thailand, Pakistan, and other major exporters, the Vietnam Food Association (VFA) has announced.

The reduction of the rice import tax by the Philippines will create more advantages and increase opportunities for Vietnamese rice to enter the market later this year, insiders said.

VOV.VN - 2004 is forecast to see rice exports exceed eight million tonnes for the second consecutive year, thereby bringing in about US$5 billion for Vietnam

VOV.VN - Senegal is a potentially lucrative market for Vietnamese rice due to high demand coming from the West African country, according to the Vietnam Trade Office in Algeria.

Vietnamese enterprises should seize the opportunities to increase rice exports to Indonesia which has allocated an additional rice import quota of 1.6 million tonnes for 2024 as dryness linked to the El Nino delayed harvest in the country, according to the Vietnam Trade Office in Indonesia.

The Ministry of Trade and Industry's Import-Export Department urged rice exporters to ensure price stabilisation and food security in the domestic market after India restricted rice exports which is forecast to have a significant impact on the global rice market.