November 04, 2024 | 17:18 (GMT+7)
Rice exports likely to set new record in 2024
Vietnam sold 800,000 tons of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tons and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
The average export price of the product between January and October was estimated at 626.2 USD per ton, an annual increase of 12%.
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Rice milling for export in My Thanh Nam commune, Cai Lay district, the Mekong Delta province of Tien Giang |
Last year, the country shipped 8.13 million tons of rice abroad. With the growth of the ten-month exports and domestic production capabilities, this year’s rice exports are expected to exceed the record set in 2023.
According to traders in the Mekong Delta, Vietnam's 5% broken rice was offered at 520-525 USD per ton last week, lower than the price of 532 USD per ton seen in the week before.
One trader noted that the market is awaiting a decision from Indonesia's national logistics agency Bulog, which is expected to be announced in early November. Bulog launched a new tender on October 24 for this round, aiming to purchase approximately 500,000 tons of rice from Thailand, Vietnam, Cambodia, Myanmar, Pakistan, and India.
Source: VNA