Vietnam's Rice Export Surge: Defying Global Shifts

Vietnam is poised to surpass 7.6 million metric tons in rice exports, maintaining its position as a top global rice exporter. Despite India's recent policy changes, Vietnam's shipments remain robust, supported by strong demand, particularly from the Philippines. Export revenues have seen significant growth this year.

Vietnam is anticipated to export over 7.6 million metric tons of rice this year, according to the Vietnam Food Association's chairman. This positions the country as a leading global rice exporter, alongside India and Thailand, with the Philippines being its primary buyer.

India's relaxation of its rice export restrictions is unlikely to affect Vietnam's rice shipments significantly. Chairman Nguyen Ngoc Nam highlighted that Vietnam's rice markets differ considerably from India's, which has recently authorized non-basmati white rice exports and reduced export duties on parboiled rice.

In the first nine months, Vietnam's rice exports grew by 8.9% to 6.99 million tons, with revenues increasing by 23% to $4.35 billion. This growth underscores the resilience and strong demand for Vietnamese rice in the global market.

(With inputs from agencies.)