Soaring Global Demand Drives Rice Exports Higher

1. Soaring Global Demand Drives Rice Exports Higher Soaring Global Demand Drives Rice Exports Higher This year Vietnam exported over 6 million tons of rice, estimated at around $3.2 billion. This figure is 21% up in terms of volume and 35% up in terms of value from the last year. Vietnam's exports increased after India’s rice export ban in July. Major Vietnamese rice-importing nations are in Asia, Middle-eastern Asia, and West Africa. The Philippines imported the Vietnamese grains most, with around $1.23 billion worth of grain imported to the Philippines, China is the second-largest importer of Vietnamese grains, importing $452 million worth of grain which is up by a staggering 67.9%. Indonesia is also among the top three importers of Vietnamese grains, importing 718,266 tons of grains estimated at $361.2 million. It’s interesting to note that this is raised by 1,505% from the last year. Vietnam Food Association (VFA) stated that many nations increased the purchase of grain due to the global terror of food shortage. This trend was experienced after India’s rice export ban in July as the Vietnam rice export surged since that time. After India’s restriction on rice exports, UAE and Russia also put restrictions on rice exports. This decision makes rice-importing nations approach other rice- exporting countries like Vietnam, Pakistan, and Brazil. Indonesia announced to import of around 2 million tons of rice to ensure the domestic market needs which can be affected due to the El Nino. Recently Indonesian government increased this figure to 2.4 million tons of rice. On September 11, Indonesia also announced that they would buy 300,000 tons of 5% broken white rice from Vietnam, Thailand, Pakistan, and Cambodia.

2. Vietnam Rice Exports Vietnam Rice Exports Historically, Vietnam has been a major rice exporter in the world. From 2010 to 2020, Vietnam exported over 6.4 million tons of rice on average, which is around 20% of the country’s rice production output. Vietnam's rice exports have traditionally found markets in Asia, with countries like China, the Philippines, Indonesia, and Malaysia being major importers. Additionally, Vietnam has expanded its reach to other continents, exporting to the Middle East, Africa, and even Europe. Conclusion Conclusion With India’s restriction on the export of rice, other rice-exporting nations like Vietnam are experiencing a surge in rice exports. In 2023, Vietnam already exported over 6 million tons of rice which is 21% up in volume from the previous year. If you are a rice importer wishing to Buy Rice In Bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie.com is a digital platform that facilitates bulk agro-commodities trade across the globe including all varieties of rice. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities such as rice, wheat, pulses, spices, and many other commodities at negotiable rates. Sellers on the platform get better access to new global buyers, increasing their overall business orders and profits, as there are no middlemen involved in the trade here, the transaction-oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.