Rice exports top 8 million tonnes

Data also shows that in the first half of November alone, the country exported 293,484 tonnes of the grain.

According to the Ministry of Agriculture and Rural Development, the ten-month volume neared 7.8 million tonnes, valued at 4.86 billion USD, representing a 10.2% increase in volume and 23.4% in value from the same period last year.

The Philippines, with a strong demand, remained Vietnam's largest market, accounting for over 45% of the total exports. By the end of October, it had imported 2.91 million tonnes from Vietnam. Other key markets include Indonesia and Malaysia, with Malaysia experiencing the strongest growth in value among Vietnam's top 15 export destinations, seeing a 2.3-fold increase.

The Vietnam Trade Office in the Philippines anticipates that rice imports will continue to rise in the final months, driven by increasing domestic consumption and damage to the harvest caused by natural disasters. It is projected that the total volume of the grain imported by the Philippines this year could exceed 4 million tonnes.

Recently, Vietnamese companies secured 83,500 tonnes of rice in a tender for 500,000 tonnes held by Indonesia in October. Despite the influx of Indian rice, Indonesian buyers were willing to pay more for Vietnamese thanks to its superior quality./.