Vietnam's rice exports reached $2.4 billion in the first half of July.

DNHN - By the first half of July, the country had exported nearly 4.5 million tons of rice, earning nearly $2.4 billion, up more than 17% in volume and 28% in value over the same period last year.

According to data released by the General Department of Customs, the country exported 249,273 tonnes of rice during the first half of July (1-15 July) with a total value of $135,45 million.

From the beginning of the year to July 15 of this year, the entire country exported more than 4.48 million tonnes of rice with a turnover of nearly 2.4 billion USD, an increase of more than 17% in volume and 28% in value compared to the same period in the previous year.

Since the growth rate is greater than the volume, the average value per tonne of rice exported this year is also greater than it was during the same period in 2022.

From the beginning of the year to July 15, the average export price per tonne of rice was over 530 USD, an increase of over 40 USD per tonne compared to the same period in 2022.

Each year, Vietnam's three largest export markets are in Asia: Philippines, China, and Indonesia, with the following results (updated by the market in the first six months): 1,698,593 tonnes, 857,7 million USD; 677,387 tonnes, 390.6 million USD; 492,801 tonnes, 244 million USD.

Compared to the same period in 2022, exports to the three most important markets increased.

Farmers in the Mekong Delta are currently harvesting the summer-autumn rice crop. The price of rice on the domestic market continued to rise between 200 and 300 VND per kilogram on July 25.

Regarding the information, the General Department of Foreign Trade of India issued a notice to ban the export of all types of ordinary white rice on July 20, 2023. This decision is effective as of the date of signing. The Import-Export Department (Ministry of Industry and Trade) determined that India's issuance of a policy to restrict rice export activities will have an impact on the global rice trade market.

The ban on the export of non-basmati rice (a popular rice in Indian and South Asian cuisine) was issued by the Indian government on July 20 and went into effect immediately. This action by the Asian nation is in response to rising rice prices and reduced sowing in some major rice-producing states as a result of unpredictable monsoon winds. According to data from the Food Ministry, the retail price of rice in Delhi has risen by approximately 15%, while the national average price has risen by more than 8%.

The notice also stated that shipments to other countries to ensure their food security will be authorized by the government and based on the needs of the receiving country. In conjunction with previous restrictions on wheat and sugar exports, India's most recent action will significantly impact global trade. Rice is a staple food for approximately half of the world's population, with 90% of the global supply consumed in Asia.

PV