Vietnam: Rice Trade - Monthly

In August, Vietnam's rice export prices surged by 22 percent compared to the previous month, reaching an average of USD 654 per ton. Its exports volume saw a significant increase of 40 percent, reaching 921 million tons after India, United Arab Emirates and Russia imposed a ban on rice exports. Cumulatively, in the first 8 months of 2023, Vietnam has surpassed Thailand to become the world's second-largest rice exporting country, with a total volume of 5.9 million tons. Vietnam's main export destinations are the Philippines, Indonesia, Ghana, China, and Malaysia. Notably, exports to the Philippines soared to 409 thousand tons, marking a 75 percent spike from the previous month, and the country now comprises 44% of Vietnam's export market. Exports to Indonesia increased modestly while exports to Ghana and China experienced significant jumps.