Vietnam: Rice Trade - Monthly

In September, Vietnam's rice export prices declined by 6 percent compared to the previous month with an average export price of USD 617 per ton. Its exports volume saw a substantial decline of 40 percent, totaling 561 thousand tons. Notably, Indonesia emerged as Vietnam’s primary export market, comprising 27 percent of Vietnam's total exports, which marked a 32 percent increase from the previous month. On the other hand, exports to the Philippines suffered a significant 77 percent drop due to the Philippines Government's imposition of price caps on regular, well-milled rice on September 1st. In the African market, exports to Ghana declined by 24 percent, while exports to Ivory Coast increased by 27 percent. Cumulatively, in the first nine months of 2023, Vietnam has overtaken Thailand to be the world's second-largest rice exporting country, with a total volume of 6.4 million tons. Vietnam's primary export destinations include the Philippines, Indonesia, China, and various African countries.