AsemconnectVietnam - In January of 2024, Vietnam exported 512,265 tonnes of rice, equivalent to over 362.26 million USD, an increase of 42.6% in volume and 94.1% in turnover compared to January of 2023.

The preliminary statistics figures of the General Department of Customs, in January of 2024 Vietnam exported 512,265 tonnes of rice, equivalent to 362.26 million USD, the average price was 707.2 USD/tonne, an increase of 4% in volume, an increase of 7% in turnover and an increase of 2.8% in price compared to December of 2023. In comparison to January of 2023, it increased sharply by 42.6% in volume, 94.1% in turnover and 36.2% in price.
Vietnam's leading rice export markets in January of 2024
The Philippines still ranked first in Vietnam's rice consumption, accounting for 53.6% of the total volume and 39% of the country's total rice export turnover, reaching nearly 280,944 tonnes, equivalent to nearly 194.28 million USD, the average price was 691.5 USD/tonne, up by 7.8% in volume, up by 8.1% in turnover and slightly up by 0.3% in price compared to December of 2023. In comparison to January of 2023, it increased sharply by 117.2% in volume, 201% in turnover and 38.5% in price.
The next was the French market, accounting for over 5% of total volume and total turnover, reaching 17,919 tonnes, equivalent to 18.64 million USD, the average price was 1,040.2 USD/tonne, a sharp increase of 16,339% in volume and an increase of 18,356 USD. % of turnover compared to December of 2023; while in January of 2023, no rice was exported to this market.
Indonesia market ranked third with 27,256 tonnes, equivalent to 18.08 million USD, with the price of 663.3 USD/tonne, down by 35.8% in volume and 29.3% in turnover but up by 10% in price compared to December of 2023. The figure was down by 68.3% in volume, down by 55.8% in turnover and up by 39.2% in price compared to January of 2023, accounting for nearly 5% of total volume and 3.2% of total rice export turnover of the whole country.
The exports to FTA RCEP markets reached 351,286 tonnes, equivalent to 240.54 million USD, up by 24.4% in volume and up by 66.2% in turnover over the same period last year. The exports to FTA CPTTP markets reached 36,278 tonnes, equivalent to 24.32 million USD, an increase of 84.4% in volume, an increase of 123.8% in turnover. The exports to the Southeast Asian market reached 341,006 tonnes, equivalent to 234.08 million USD, an increase of 46.4% in volume, an increase of 103.7% in turnover.
Rice export forecast for the whole year of 2024
Although there are objective factors that are difficult to predict, experts and businesses all assess that the rice industry's market in 2024 will continue to be positive. However, Vietnam's rice export price still depends largely on India's move to consider lifting the ban.
The Ministry of Agriculture and Rural Development aims to export about 8 million tonnes of rice in 2024.
The Ministry of Agriculture and Rural Development said that in 2023, Vietnam's rice exports reached about 8.29 million tonnes of rice, bringing in a value of 4.78 billion USD, an increase of 16.7% in volume and an increase of 38.4% in value compared to 2022. This is a record high number in more than 30 years of participating in rice export.
However, the Government did not decide to ban rice exports when proving that Vietnam still ensures domestic food security and increases exports.
CK
Source: VITIC/ vnbusiness