Over 6 million tons of rice exported in 10 months

About 6.07 million tons of rice worth US$2.94 billion was exported in the first 10 months of 2022, up 17.2% in volume and 7.4% in value year on year, according to the Ministry of Agriculture and Rural Development (MARD).
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Export prices averaged US$484 per ton during the period, down 8.3% from the same period last year.

The Philippines was the biggest importer between January and September, accounting for 43.9% of the total exports. It purchased 2.47 million tons of Vietnamese rice worth US$1.14 billion, respectively up 35.3% and 22.2% from a year earlier.

Export revenue to Ivory Coast posted the fastest growth, over 71%, in nine months. Meanwhile, shipments to Ghana witnessed the sharpest fall, nearly 33%, the MARD said.

In October alone, about 700,000 tons of rice was shipped abroad, bringing home US$334 million. Export prices stood at US$425 - 430 per tons, the highest since November 2021.

Due to lower domestic supply, traders forecast prices may be slightly higher in the short term, and rice exports will increase this year.

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