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List of top rice exporters in Vietnam

List of top rice exporters in Vietnam

Monday 27, 03 2023
There have been several positive signs for Vietnam's rice exports when the demand for food reserves of many countries increases, including the major rice export markets of Vietnam such as the Philippines and China. Besides, in the short term, Vietnam's export rice price is forecasted to be high.

Rice export situation

According to statistics of the General Department of Customs, Vietnam's rice exports in February 2023 reached 534.6 thousand tons, worth $286.2 million, up 14.7% in volume and 29.0% in value compared to February 2022. In the first two months of 2023, Vietnam's rice exports reached 893.3 thousand tons, worth $472.4 million, down 8.1% in volume but up 1.0% in value over the same period last year.

Vietnamcredit Rice export situation

Vietnam's rice exports to China and Indonesia increased impressively in the first two months of 2023.

In February 2023, rice exports to China reached 105.2 thousand tons, worth $61.6 million, up 134.4% in volume and 182.2% in value compared to February 2022. Generally, in the first two months of 2023, rice exports to China reached 152.6 thousand tons, worth $90.0 million, up 86.4% in volume and 120.6% in value over the same period last year.

Similarly, in February 2023, rice exports to Indonesia reached 57.9 thousand tons, worth $26.4 million, up 13,514.4% in volume and 11,834.0% in value compared to that of February 2022. Generally, in the first two months of 2023, rice exports to Indonesia reached 143.8 thousand tons, worth $67.3 million, up 33,732.0% in volume and 30,355.3% in value over the same period in 2022.

China and Indonesia are the two major rice export markets of Vietnam. The increase in exports to these two markets has contributed to the increase in total export turnover.

On the contrary, in the first two months of 2023, exports to markets such as the Philippines, Ivory Coast, Malaysia, Hong Kong, Gana... decreased while the Philippines is the largest rice export market of Vietnam.

In February 2023, rice exports to the Philippines reached 273.3 thousand tons, worth $140.5 million, down 9.5% in volume but up 1.3% in value compared to February 2022. Generally, in the first 2 months of 2023, rice exports to the Philippines reached 402.0 thousand tons, worth $204.7 million, down 25.0% in volume and 17.8% in value over the same period in 2022.

Vietnamcredit rice export

It is forecasted that Vietnam's rice exports in 2023 will reach about 6.5-7 million tons. In particular, high-quality rice will account for about 3 million tons. The output of exported rice is mainly concentrated in the provinces of the Mekong Delta while other regions mainly serve the domestic market.

The demand for rice imports from markets such as the Philippines, China, Africa... in the first quarter of 2023 and the second quarter of 2023 is expected to be stable as these countries increase their food reserves.

In the short term, rice prices will remain high due to political and economic uncertainties, which will increase the demand for food reserves.

Under the EVFTA, Vietnam is granted a quota of 80,000 tons, including 20,000 tons of brown rice, 30,000 tons of white rice, and 30,000 tons of fragrant rice. If the export orders are in the above list, they are exempt from tax of ER 175/ton. Therefore, when exporting to the EU market, businesses should prepare the right type of rice to make the best use of incentives.

However, rice exports still face certain difficulties when freight rates change, input prices for rice production are high, and the tension between Russia and Ukraine affects other food prices.

Top 30 largest rice exporters in Vietnam

Tốp 30 Rice company

 

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