Global Agriculture

Vietnam’s rice export turnover increases by 54.5% in the first 4 months of 2023

15 May 2023, VN: According to the Ministry of Agriculture and Rural Development, rice exports in April 2023 were estimated at 1.1 million tons, with a value of 573.9 million USD, bringing the total volume and value of rice exports in the first 4 months of the year to 2.95 million tons and 1.56 billion USD, an increase of 43.6% in volume and 54.5% in value over the same period in 2022.

This is the highest growth rate among the key agricultural product groups. Some other agricultural commodities also have higher export values compared to the same period last year, such as coffee with a 2.5% increase, fruits and vegetables with a 19.4% increase, and cashew nuts with a 3.4% increase.

However, many products still face difficulties and experience a decline in export value, including rubber with a decrease of over 20%, tea with a 5.8% decrease, black pepper with a decrease of over 10%, and cassava and cassava products with a decrease of over 12%.

The average export price of rice in the first four months of 2023 was estimated at 526 USD/ton, up 7.6% over the same period in 2022.

In the first 3 months of 2023, the Philippines remained the biggest consumer market for Vietnamese rice, accounting for 45.9% of the market share, with 893.3 thousand tons and 450.4 million USD, an increase of 32.9% in volume and 44.8% in value compared to the same period in 2022.

Among the top 15 biggest rice export markets, Indonesia experienced the strongest growth in value (177.4 times). In contrast, the market with the sharpest decline in rice export value was Ivory Coast, with a decrease of 70.9%.

In April 2023, Vietnam’s rice export prices reached their highest level in two years. Meanwhile, rice prices in Thailand and India showed an upward trend until mid-month and then turned down towards the end of the month.

Vietnam’s 5% broken rice price was offered for sale between 495 USD and 500 USD per ton, the highest level since April 2021, and an increase of 50 USD per ton compared to the previous month. The Winter-Spring harvest, the largest rice crop of the year, has concluded.

Also Read: Humanitarian Heidi Kühn wins 2023 World Food Prize for restoring agriculture to de-mined land in former war zones

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