According to a report by the Ministry of Agriculture and Rural Development (MARD), Vietnam’s rice exports in November 2024 reached 700,000 tons, valued at USD 444.9 million. This brought the total rice export volume in the first 11 months of 2024 to nearly 8.5 million tons, worth USD 5.31 billion. This marks an impressive growth, with a 10.6% increase in volume and a 22.4% rise in value compared to the same period in 2023.
Vietnam’s Rice Prices Maintain Strong Position
The average export price of Vietnamese rice reached USD 627.9 per ton, up 10.6% from the previous year. Notably, aromatic and high-quality rice varieties such as ST25 continue to be favored in international markets.
The Philippines remains Vietnam’s largest market, accounting for 45% of its rice exports, with 2.91 million tons imported in the first 10 months of 2024. Significantly, the Philippines’ demand for rice has surged due to domestic production disruptions caused by natural disasters, with total annual imports expected to exceed 4 million tons.
Progress from Sustainable Strategies
Mr. Đỗ Hà Nam, Vice Chairman of the Vietnam Food Association, highlighted that 2024 marks a milestone year with record-breaking export volumes and values for Vietnamese rice. This achievement stems from the industry’s transition to sustainable practices, focusing on high-quality rice varieties.
Currently, 95% of Vietnam’s rice varieties are classified as high-quality, accounting for 89% of production. This approach not only ensures quality but also reduces emissions, paving the way for sustainable growth in the rice sector.
Shaping the Market with Premium Rice
Vietnamese enterprises have also made notable strides in the global market. In a tender held in October 2024, Vietnamese companies secured 83,500 tons of rice, accounting for 17% of Indonesia’s 500,000-ton rice tender.
By positioning itself with high-quality rice products, Vietnam not only maintains its competitive edge over rivals like India and Thailand but also continues to stabilize domestic rice prices, delivering long-term benefits to farmers.
Rice exports are not only an economic achievement but also a source of pride for Vietnam’s agriculture, reaffirming its position on the global rice map.
