Rice exports down in Jan-Feb
HCMC – Vietnam exported 789,000 tons of rice worth US$417 million in the first two months of 2023, down
This export value represents 93 -96% of the full-year target. In the last two months, only 150,000-250,000 tons of rice need to be exported per month, enabling this sector to fulfill its target.
If the weather and growing conditions are favorable, Vietnam’s total rice exports will possibly surpass 6.3-6.5 million tons in 2022, 100,000-200,000 tons higher than that of 2021.
According to the Institute of Policy and Strategy for Agriculture and Rural Development, Vietnam’s rice industry has recently shifted from a low to premium quality rice market segment. Therefore, rice exports to choosy markets such as the U.S. and the EU have been growing strongly in the first eight months, at 84.8% and 82.2%, respectively.