Vietnam exported more than 8 million tonnes of rice in 2023, and the Philippines was the largest rice buyer, according to the General Department of Customs.

Statistics show Vietnam shipped 8.34 million tonnes last year, earning US$4.78 billion, up 14.4% in volume and 35.3% in value year on year.

Of the total volume, the Philippines purchased 3.13 million tonnes, Indonesia 1.16 million tonnes, and China 917,000 tonnes.

While the Philippines was the largest buyer of Vietnamese rice, Indonesia was a large market with most impressive growth. The amount of rice Indonesia imported was nearly 10 times higher than in 2022 while the turnover was nearly 11 times higher.

Experts say Vietnam is likely to export more than 8 million tonnes again in 2024 and continue to benefit from high prices of the staple in the global market due to high demand and supply shortages.

India, the largest rice exporter in the world, has been imposing rice export restrictions, sparking concerns about a limited supply of rice globally.

The impact of the El Nino phenomenon and the purchase of rice from Asian and African countries are also expected to drive up market prices in 2024.

Statistics indicate that in the first half of January 2024, Vietnam exported 194,074 tonnes of rice, earning US$134.57 million, down by 32,000 tonnes in volume but up by nearly US$20 million in value year on year.

VOV