Vietnam's Rice Exports Expected to Reach 6.5-7 Million Tons in 2023

Despite a 29% decline in quantity, in January 2023, Vietnam's rice exports earned $186.6 million, reaching 359,310 tons, with an average export price of $519.3/ton, which was 6.8% higher than the previous year, according to the Ministry of Industry and Trade

The Philippines remains Vietnam's largest rice importer, accounting for 35% of the country's total rice exports. Rice exports are mainly concentrated in the Mekong Delta region, with other regions mainly serving the domestic market.

Vietnam's rice exports are expected to increase due to a shortage of rice supply caused by climate change and droughts in the United States, Europe, and China. 

Additionally, India's ban on the export of rice and a 20% tax on white rice has created opportunities for Vietnam. 

Traditional markets like Indonesia and Bangladesh are expected to rebound, and China has opened its market after Covid-19, increasing the demand for rice imports. 

The quality of Vietnam's exported rice is improving, and countries have an increasing demand for rice imports from Vietnam.

Vietnam's rice export prices continue to rise, and at times during the first two months of 2023, Vietnam's 5% broken rice prices are leading the world, surpassing those of Thailand and India. 

Factors that may affect the forecast for Vietnam's rice exports in 2023 include natural disasters, changes in trade policies of importing countries, and the outbreak of the Covid-19 pandemic.