Vietnam rice exports to the Philippines reached over US$1 billion

The department noted that the Philippines represented the largest consumer of Vietnamese rice last year, importing 2.22 million tonnes worth a total of US$1.06 billion, marking an increase of 4% in volume and 19.3% in revenue compared to figures from 2019.

Along with the large export volume to the Philippines, the export price of local rice to the Filipino market also witnessed a sharp increase over the past year with an average of US$476 per tonne, representing a rise of 14.7% in comparison to the previous year.

Throughout the year, Vietnam exported approximately 6.25 million tonnes of rice, grossing a turnover of US$3.12 billion, a decline of 1.9% in volume but an increase of 11.2% in turnover from 2019.

Furthermore, the Philippines continued to represent the largest consumer of Vietnamese rice, making up 35.5% of the total export volume and 33.9% of the nation’s total export turnover.