Vietnam’s 2023 rice exports set new record but miss target

CAN THO – Vietnam set a new record in rice exports in 2023, with over 8.1 million tons valued at US$4.7 billion, yet the results still undershot the target set by the Ministry of Agriculture and Rural Development. Rice export volume in 2023 rose 14.4% year-on-year, while its value surged by an impressive 35.3% year-on-year. In an interview with The Saigon Times, the director of a major rice-exporting company in the Mekong Delta expressed concerns about the average export price of Vietnamese rice in 2023. The Philippines remained the biggest buyer of Vietnamese rice, importing over 3.1 million tons in 2023. It was followed by Indonesia, China, and Ghana, with respective purchases of 1.15 million tons, 908,000 tons, and 576,000 tons, respectively.