As of mid-November 2024, Vietnam’s rice export earnings have reached an impressive $5 billion, marking a significant achievement in the realm of agricultural exports amidst robust demand. In comparison to the previous year, the nation’s total exports of 8.05 million metric tonnes reflect a 21% increase in monetary value and a 9% increase in volume. The primary importers of Vietnamese rice are now Malaysia, Indonesia, and the Philippines.
Despite a decline in global rice prices following India’s decision to lift its export embargo, prices for Vietnam’s premium rice have remained stable. Additionally, Vietnam has emerged as a noteworthy importer, as indicated by a substantial 73% rise in rice imports. There exists a degree of uncertainty regarding future export prospects, especially with Indonesia striving for self-sufficiency by the year 2027.
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