Rice exports continue to increase in volume and value

Market Information
icon date22/07/2023

Vietnam’s rice import and export continued to increase sharply in both output and value. According to the Vietnam Commodity Exchange, import and export volume is about 6.5 million tons, 200,000 tons higher than in 2021.

How was Vietnam’s rice import and export market in the past?

According to the General Department of Customs, from the beginning of 2022 until now, Vietnam’s rice imports and exports have reached 5.03 million tons. In which, export turnover reached 2.45 billion USD, increasing 20% and 10% respectively over the same period in 2021.

On average, in the first 8 months of 2022, the export value of rice reached 486.6 USD/ton, in the structure of fragrant rice, high quality rice ranked first. This has confirmed that the quality of Vietnamese rice is gradually rising to the top position, raising the level of Vietnamese rice compared to other countries in the international market.

Previously, in 2021, due to the impact of the Covid-19 epidemic, the amount of Vietnamese rice exported to major countries was much less. Specifically, the output reached 6.15 million tons, worth about 3.07 billion USD. Fragrant and high-quality rice only accounts for about 40% of export turnover.

However, from the beginning of the year to now, Vietnamese rice has made remarkable changes. This has also affected the structure of agriculture, including restructuring the rice industry with the direction of strong adjustment, changing farming processes and focusing on improving rice quality.

Deputy Director of the Department of Crop Production, Mr. Le Thanh Tung said that the improved quality of exported rice comes from focusing on promoting the cultivation of fragrant and high-quality rice varieties.

Specifically, in the summer-autumn crop of 2022, the whole Mekong Delta region sowed 1,493 thousand hectares, the fragrant and specialty rice varieties reached 15.24%; high quality rice varieties reached 68.33%, up 20.33% over the same period.

Recent rice import and export volume

Regarding import and export data, the export and import volume of Vietnamese rice in October 2022 is estimated at USD 334 million with 700,000 tons. This figure shows a very large amount of rice imports and exports, giving Vietnam a great advantage in the market.

Rice value in October 2022 reached 6.07 million tons and 2.94 billion USD respectively, increasing 17.2% in volume and 7.4% in value over the same period in 2021.

Recent rice export value

In recent times, the average export value of rice has reached $484/ton, decreasing 8.3% over the same period in 2021.

In the first nine months of 2022, Vietnam’s largest rice consumption market is the Philippines with 43.9% market share.

Rice exports to this market reached 2.47 million tons and 1.14 billion USD, increasing 35.3% in volume and 22.2% in value over the same period in 2021.

The latest statistics from the General Department of Vietnam Customs showed that from the beginning of 2022 to the end of September 15, Vietnam’s rice exports reached 5.02 million tons, increasing 19% over the same period last year. Export turnover reached 2.44 billion USD, increasin 9% over the same period last year.

It is expected that the remaining 4 months of 2022 will export about 1.5 to 1.7 million tons. If there are no new adverse factors, the ability to export Vietnamese rice in 2022 will reach and exceed the plan.

PVMachino – a reputable rice import and export company

PVMachino is the leading prestigious rice import and export company in Vietnam with many years of operation in the field of food, mainly rice food, most notably rice export.

The company owns many retail and wholesale systems with modern machinery, technology, and energy capacity. Moreover, the company also has many large rice export processing factories, near key consumption sources, and large warehouses.

With an extensive sales network in many countries and strong cooperation with distributors, PVMachino is capable of serving many demanding markets such as: USA, UK, France, Germany, Spain, Middle East, Africa, Australia, Philippines, Malaysia, Singapore and Hong Kong…

We always take the motto “Consumer health” as a premise for rice production, and thanks to this core motto, the unit has brought many successes up to the present time. Therefore, we are also very proud to be the main food supplier for many countries today.

Although rice imports and exports have fluctuated, they have continued to increase in recent times, helping Vietnam’s position to increase and compete with many strong competitors in the market.