Hanoi: Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country’s total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively. Last year, the country shipped 8.13 million tonnes of rice abroad. With the growth of the ten-month exports and domestic production capabilities, this year’s rice exports are expected to exceed the record set in 2023.

According to Vietnam News Agency, the significant increase in rice export volume and value demonstrates Vietnam’s robust agricultural production and its strong position in the global rice market. The rise in exports is attributed to favorable weather conditions and enhanced farming techniques, which have boosted domestic rice production. The government has also played a crucial role by supporting farmers with subsidies and incentives, further enhancing the export potential.

Industry experts suggest that if the current trend continues, Viet
nam is likely to surpass its previous record set last year, bolstering its status as one of the leading rice exporters in the world. The expected record-breaking exports are anticipated to have a positive impact on the country’s economy, supporting farmers’ livelihoods and contributing to economic growth.