In general, from the beginning of the year to July 15, the whole country exported more than 4.48 million tons of rice, with a turnover of nearly 2.4 billion USD, up more than 17% in volume and up 28% over the same period last year.

The turnover is higher than the volume, so the average value of each ton of rice exported this year is also higher than the same period in 2022. Specifically, from the beginning of the year to July 15, the average value reached more than 530 USD/ton, while in the same period last year it was only nearly 490 USD/ton.

Rice exports are growing well

The three largest export markets of Vietnam are in Asia every year, including: Philippines, China and Indonesia, with the results respectively (updated by market in the first 6 months): 1,698,593 tons, 857.7 million USD; 677,387 tons, 390.6 million USD: 492,801 tons, 244 million USD.

Export activities to 3 main markets all had positive growth compared to the same period last year.

The Vietnam Food Association said that this year rice exports will have the most favorable conditions. In particular, production won a great deal when the rice variety structure had many changes and high yield. Import demand in old markets such as the Philippines, China and Malaysia have all increased sharply. Along with that, rice exports to new markets such as Indonesia and a few African countries increased sharply. In addition, Vietnamese fragrant rice has further promoted trade in niche markets and increasingly has its own position, which has helped the export picture to have more achievements.

Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department , Ministry of Industry and Trade, said that despite the difficulties of commodity exports in general, many items still achieved high results, including rice exports. This is also a very positive result, showing the efforts of enterprises in expanding the market as well as the recovery of export activities.

With the situation of rice exports in the world at the moment and in the last 6 months of the year, along with the high price of rice, the export target of about 7.2 million tons of rice, reaching more than 4 billion USD is within reach. This will be the historical record of Vietnam's rice exports.

The situation of rice export is facing many advantages, but besides consuming all rice for the people, one of the other important goals is to ensure food security.

For example, recently, the General Department of Foreign Trade of India has issued Notice No. 20/2023 on banning the export of all types of ordinary white rice (non-Basmati). This Decision takes effect from the date of signing. The issuance of a policy to restrict rice exports from India will affect the global rice trade market.

Before this move, to contribute to the consumption of rice, commodity rice; To stabilize domestic rice and rice prices, ensure food security, the Import-Export Department - Ministry of Industry and Trade has issued Document No. 584/XNK-NS to rice export traders and Document No. 585/XNK-NS to the Vietnam Food Association requesting coordination in implementing a number of related contents.

Specifically, the Import-Export Department proposed the Vietnam Food Association to coordinate with the implementation of the following contents: Strengthening and urging members, especially large enterprises, to take the leading role such as the Northern Food Corporation, the Southern Food Corporation, etc. to organize the purchase and consumption of paddy and commodity rice, ensuring the benefits for rice growers according to current policies. Requesting members to strictly comply with the provisions of Decree No. 107/2018/ND-CP dated August 15, 2018 of the Government on rice export business; regularly maintain the minimum circulating reserve level as prescribed in Decree No. 107/2018/ND-CP, ensure the balance between export and domestic consumption, contributing to stabilizing paddy and rice prices in the domestic market.

Besides, continue to closely monitor the situation of the rice market; actively exchange and synthesize members' opinions on difficulties and problems arising in the supply and circulation of rice in the domestic and international markets to report and propose appropriate solutions to the concerned ministries and branches.

For traders, the Import-Export Department recommends that traders strictly comply with the provisions of Decree No. 107/2018/ND-CP dated August 15, 2018 of the Government on rice export business on the purchase of paddy, commodity rice to ensure the balance of export and domestic consumption; maintaining the circulating reserve level according to regulations, contributing to stabilizing paddy and rice prices in the domestic market and ensuring food security. Actively monitor the market situation, organize appropriate production and export plans, ensure effective export. Strictly implement the regime of periodically reporting on the amount of rice and rice in stock, the situation of signing and performing rice export contracts according to the provisions of Decree No. 107/2018/ND-CP, and send it to the Import-Export Department - Ministry of Industry and Trade and the Vietnam Food Association.

At the same time, actively discuss with the Vietnam Food Association, report to the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development on difficulties and problems arising in the process of supplying and circulating rice and rice in the domestic and international markets for timely solutions.

In Vietnam's rice export market development strategy to 2030, approved at the end of May 2023, the goal is to reduce the export volume to only 4 million tons by 2030 with a turnover of only 2.26 billion USD, accepting the average export growth rate in the period of 2023 - 2025 to decrease by about 2.4% and the period of 2026 - 2030 to decrease by about 3.6%.