Current Vietnam Rice Exports Statistics for 2023-24

When it comes to rice production, Vietnam is famous for rice exports globally. According to recent customs data, Vietnam’s rice exports accounted for $4.78 billion in 2023, up by 35% from the previous year, while Vietnam’s rice exports were valued at $2.08 billion in the first quarter of 2024. In terms of volume, Vietnam is the world's fifth-largest producer and third-largest exporter of rice, with 8.13 million metric tons exported globally in 2023. The HS code for rice is 1006. Vietnam ranks third globally in terms of rice exports. Vietnam's 26th-most-exported commodity in 2023 was rice. The Philippines became Vietnam's top importer of Vietnamese rice in 2023, purchasing 3.1 million tons, followed by Indonesia and China. The country's total rice output increased by 1.9 percent to 43.5 million tons due to growing farming areas and efficiency, meeting both domestic demand and export. Vietnam aims to produce 43-43.5 million tons of rice in 2024. In this article, we will explore the Current Vietnam’s rice export statistics for 2023-24 with a focus on Vietnam’s top rice exporters, suppliers, and market insights.

Latest Statistics on Vietnam's Rice Exports for 2024

During the first quarter of 2024, Vietnam's rice export statistics indicated a notable increase in the country's rice exports. Rice exports from Vietnam increased by 11.7% to 3.23 million tons in the first quarter of 2024, valued at $2.08 billion. Vietnam's rice export partners in the first quarter of 2024 majorly include Indonesia ($235.66 million), Malaysia ($36.79 million), China ($27.95 million), Singapore ($26.97 million), Australia ($9.28 million), USA ($6.62 million), Hong Kong ($5.91 million), Canada ($4.40 million), Germany ($3.73 million), and South Korea ($3.38 million). Factors such as improved agricultural practices, strategic market expansion, and strong international demand have contributed to the significant performance observed in the first quarter of 2024. This surge in rice exports reflects Vietnam's position as a key player in the global rice market.

Key Market insights of Vietnam's rice export industry

• Is Vietnam a major exporter of rice to other nations?

Over 180 countries and territories around the world have imported rice from Vietnam. Vietnamese rice is typically consumed by consumers in demanding markets including the US, Europe, the Republic of Korea, Australia, and the Middle East.

• Vietnam ranks what in terms of rice exports?

Vietnam's global rice export market share is the third highest among the five main exporting nations, after India and Thailand.

• How much rice does Vietnam export?

Vietnam's rice export volume and prices reached a record-breaking level of 8.3 million tons and 4.78 billion U.S. dollars in 2023 up by 35% from the previous year.

• Why is Vietnamese rice less expensive?

Vietnam has around twice as much rice as Thailand, which is the world's largest rice exporter. In other words, Vietnam produces rice for a lower cost, which accounts for the lower pricing.

• Who is Vietnam's largest rice importer?

Vietnam's largest rice importer, valued at $1.75 billion in 2023, is the Philippines.

• How much rice does Vietnam produce?

Vietnam is expected to produce about 24.5 million metric tons of rice during the 2023–2024 growing season, which is more than half of the nation's total rice production volume.

Biggest export partners for Vietnam’s rice exports:- Where does Vietnam export rice most in 2023-24?

Rice from Vietnam is sold to over 180 nations and territories globally. Vietnamese rice is typically consumed by consumers in high-demanding regions like the Middle East, Australia, the US, the Republic of Korea, and Europe. Based on export value, the Philippines was Vietnam's top importer of rice in 2023, having received Vietnam's rice exports of around $1.75 billion. Indonesia comes second with rice exports from Vietnam worth over $668.82 million in 2023, followed by China and Ivory Coast. The biggest export partners for Vietnam’s rice exports in 2023 and 2024 Q1 include:

Who are the top 10 Exporters of Rice in Vietnam?

When it comes to the top exporters of rice in Vietnam, some prominent names stand out in the industry. The top 10 exporters of rice in Vietnam include companies such as Intimex Group, Vietnam Northern Food Corporation, Orient Rice Co. Ltd, and more. These companies play a significant role in Vietnam's rice export market, contributing to the country's position as one of the leading rice exporters globally. Intimex Group is Vietnam's largest rice-exporting company in 2023. The top 10 rice exporters and suppliers in Vietnam with their market export revenue in 2023 include:

1. Intimex group joint stock company: $30.83 million
2. Vietnam Northern Food Corporation Ltd.: $21.57 million
3. Thanh Tin Service and Trade Company Limited: $17.67 million
4. Orient Rice Co. Ltd.: $12.67 million
5. Hiep Loi joint-stock company: $10.66 million
6. Gia International Corporation: $10.54 million
7. Tung An hi-tech farming joint-stock company: $7.78 million
8. An Giang Import-Export Company: $7.64 million
9. Phat Tai Company Limited: $7.62 million
10. Louis Rice trading production one member Co. Ltd.: $6.36 million

Vietnam’s rice export statistics in the last 10 years

What are the most popular Vietnam rice export varieties?

Vietnam, as one of the globe’s predominant rice exporters, boasts several popular rice sorts within the international market. Among the most sought-after Vietnam rice export sorts are fragrant Jasmine rice, famed for its sensitive aroma and barely sticky texture; super White rice, recognized for its versatility in various culinary dishes; and fragrant Basmati rice, prized for its long grains and nutty flavor profile. Vietnam's most popular and exported rice varieties in 2023 include:

• Semi-milled or wholly milled rice (HS Code 100630): $2.91 billion
• Broken rice (HS Code 100640): $241.35 million
• Husked or brown rice (HS Code 100620): $32.45 million
• Rice in the husk, "paddy" or rough (HS Code 100610): $1.92 million

How to find Rice Exporter & suppliers From Vietnam at the best prices online?

When looking to find potential rice suppliers in Vietnam at the best prices online, TradeImeX can be a valuable resource to streamline your search and procurement process. The platform's user-friendly interface allows for efficient browsing, advanced search filters, and secure transactions, ensuring a smooth and professional experience in sourcing rice suppliers in Vietnam at competitive prices. With TradeImeX, you can confidently navigate the market and establish reliable partnerships for your rice procurement needs. Contact us at info@tradeimex.in and find rice suppliers at the best prices in Vietnam.

Conclusion

To conclude, Vietnam's rice export statistics for 2023-24 are projected to show promising increases and resilience in the face of demanding situations. Vietnam's rice export enterprise affords numerous opportunities for growth and innovation in the food and agricultural sector. As Vietnam continues to focus on first-rate, sustainability, and marketplace diversification, Vietnam is nicely located to preserve its reputation as a pinnacle rice exporter in the years to come.

 Also read about :- 

Top 10 Best Rice Suppliers Exporter from Vietnam in 2023

Top 10 Exports of Vietnam 

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