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Monday, July 22, 2024

Rice exports in Jan-Oct grow strongly

The Saigon Times

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HCMC – Vietnam had exported over six million tons of rice worth nearly US$3 billion in the year to October, up 17.2% in volume and 7.4 % in value over the same period last year, the Ministry of Agriculture and Rural Development reported.

Vietnam shipped abroad some 700,000 tons of rice in October, bringing in US$334 million, with prices ranging from US$425-430 per ton, the highest since November 2021. 

Meanwhile, the average January-October rice price dropped 8.3% against 2021, at US$484 per ton.

In the year through September, the Philippines had remained the largest buyer of Vietnamese rice, with 2.47 million tons valued at over US$1.14 billion, surging 35.3% and 22.2% year-on-year, respectively.

The good rice export performance has driven up rice prices in some provinces in the Mekong Delta, the country’s key rice growing area. 

The price of Vietnam’s 5% broken rice fell by US$28 to US$407 per ton, the lowest since the end of July.

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