HANOI: Vietnam’s rice exports are forecast at 7.5 million metric tons this year, the chairman of the Vietnam Food Association said on Wednesday, down from a record high of 9.04 million tons last year.
Vietnam is the world’s third-largest rice exporter, after India and Thailand, and its key markets are the Philippines and Indonesia.
Rice shipments from Vietnam this year will face challenges of possible increased supplies from India and Indonesia’s efforts to cut down on its imports, the association’s chairman Nguyen Ngoc Nam told Reuters.
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“However, the prospects of increasing shipments to China are looking brighter,” Nam said. Vietnam exported 9.04 million tons of rice last year, an increase of 11.2% from 2023, according to government data.
The value of rice exports last year rose 21.2% to $5.67 billion.
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