According to preliminary statistics from the General Department of Customs, Vietnam's rice exports in July reached more than 751 thousand tons, worth more than 451 million USD, up 46.3% in volume and 39.7% in value.

Rice exports to Ukraine increased nearly 40 times. Illustrative photo

In the first 7 months of the year, Vietnamese rice earned 3.3 billion USD with more than 5.3 million tons, up 27.7% in volume and 27.7% in value over the same period in 2023. The average export price reached 601 USD/ton, up 18% in price over the first 7 months of 2023.

Among the markets, Vietnam exported the most rice to the Philippines with 2.3 million tons, equivalent to more than 1.4 billion USD, up 19% in volume and 44% in value over the same period last year.

Ranked second is the Indonesian market with more than 778 thousand tons, equivalent to more than 481 million USD, up 29% in volume and 61% in value compared to the first 7 months of 2023.

Malaysia is the third largest market for Vietnamese rice with more than 529 thousand tons, turnover reaching more than 314 million USD, a sharp increase of 129% in volume and 176% in turnover over the same period in 2023.

Notably, in addition to these three main markets, Ukraine is strongly increasing its imports of Vietnamese rice with a continuous four-digit growth rate since the beginning of the year. Specifically, in the first 7 months of the year, our country exported 10,656 tons of rice to Ukraine with a turnover of more than 6.8 million USD, an increase of 3,951% in volume and 3,420% in value compared to the same period last year.

With many positive signals, especially the markets of potential rice importing countries in the region are directing their purchasing power towards Vietnamese rice, Vietnam's rice export activities are expected to continue to grow strongly.

According to rice exporting enterprises, countries such as the Philippines, Indonesia and some other countries have stable and high demand for rice imports for domestic consumption. Each year, these two countries alone can import 4 to 5 million tons. Most of their import sources are from Southeast Asian countries, including Vietnam.

The opportunity for Vietnam to increase rice exports is even greater when this August, the Philippines' policy of reducing rice import tax from the current 35% to 15% takes effect. Many businesses said that currently, customers from the Philippines and China are negotiating a lot in Vietnam to buy large contracts...

With positive signals from rice export growth, according to businesses, in order to promote sustainable rice export efficiency, production linkage activities with farmers need to continue to be better implemented.