Vietnam exported over 7 million tons of rice worth $4.37 billion in the first nine months of 2024, a year-on-year rise of 9.2% in volume and 23.5% in value, the Vietnam News Agency quoted figures from the Ministry of Agriculture and Rural Development (MARD) as reporting.

The average export price of rice was estimated at $624 per ton, up 13.1% compared to the same period last year.

Recently, the Indian government lifted its ban on the export of non-Basmati white rice, ending the suspension that lasted over one year on overseas sales. 

The move, however, will not significantly affect Vietnam with a well-structured ecosystem in the rice value chain closely linked to the market, according to Deputy Minister of Agriculture and Rural Development Phung Duc Tien.

Vietnamese rice exporters said that India's decision will exert downward pressure on the prices of rice varieties in the market. However, the price of Vietnamese rice is unlikely to fall below $500 per ton due to limited domestic supply.

The MARD reported that farmers nationwide planted 6.93 million ha of  so paddy this year, a year-on-year rise of 0.2%. Localities harvested 5.4 million ha with an average paddy output of 6.3 tons per ha.  

Source: VOV