Vietnam’s rice exports in the first nine months of 2023 recorded the highest revenue in 34 years, reaching 3.66 billion U.S. dollars, up 40.4 percent year-on-year, according to the Ministry of Agriculture and Rural Development on Friday.
The new record was attributed to the increasing price of Vietnamese export rice, and the decreasing rice supplies in many markets during this period.
From January to September, Vietnam exported 6.6 million tons of rice, said the ministry.
Vietnam’s average price of exported rice in the past three quarters reached 553 dollars per ton, a 14 percent increase over the same period last year.
The Philippines, China and Indonesia were the largest buyers of Vietnamese rice products in the first eight months, accounting for 40.3 percent of the total rice export.
It is expected that in the last quarter, Vietnam can target rice export at over 1 million tons of all kinds and continue to set a new export record.
The Southeast Asian country has set a target of exporting 7.5-7.8 million tons of rice worth about 4.3 billion dollars this year thanks to its favorable conditions.