On December 16, in Ho Chi Minh City, the Ministry of Agriculture and Rural Development (MARD) organized a conference to promote the export of agricultural, forestry, and aquatic products, as the sector has achieved numerous records in exports.
Mr. Le Thanh Hoa, Deputy Director of the Department of Quality Management, Processing, and Market Development (MARD), informed that the sector’s total export value in 2024 is estimated at US$62.4 billion, the highest ever.
Compared to the goals set in Decision 174/QD-TTg on promoting the export of agricultural, forestry, and aquatic products by 2030, approved by the Government in 2021, the agriculture sector has achieved its targets six years ahead of schedule, as the goal by 2030 was to export US$60-62 billion.
There were seven items that exceeded the export turnover of US$3 billion/year: rice, rubber, cashew nuts, coffee, wood, seafood, and fruits and vegetables. Especially, the rice industry’s export value this year is estimated at US$5.8 billion, up 23.1%.
According to MARD’s report, rice exports reached nearly 8.5 million tons and US$5.31 billion by November, up 10.6% in volume and 22.4% in value compared to the same period in 2023. The average export price of rice in the first 11 months of 2024 was estimated at US$628/ton, up 10.6% compared to the same period in 2023.
The Vietnamese rice industry achieves remarkable export performance in 2024
Meanwhile, rice production this year did not show significant growth, with an area of 7.1 million hectares and an output of 43.6 million tons.
Speaking at the conference, Mr. Nguyen Ngoc Nam, Chairman of the Vietnam Food Association (VFA), explained that the remarkable achievements of the rice industry this year were due to various reasons. First and foremost was the timely direction of the Government, ministries, and banks in addressing market difficulties, which helped the rice industry ensure domestic food security while achieving high export results and maintaining good rice prices.
In 2024, Vietnam ranked third in the world in rice exports, after India (17 million tons) and Thailand (10 million tons).
Regarding the rice export situation in 2025, the Chairman of VFA predicted several challenges, including the comeback of India, which is expected to export 22 million tons, an increase of 5 million tons compared to 2024.
Rice area and output in recent years
In terms of import markets, Indonesia, a major rice importer, is expected to reduce its imports. Additionally, China’s significant reduction in rice imports in 2024 is also noteworthy. By October 2024, China had decreased its rice imports from Vietnam by 71%.
Mr. Nguyen Ngoc Nam proposed that banks should pay attention to loan issues and suggested that the tax industry promptly refund VAT to support exporting enterprises.
MARD’s data also showed that the rice sector had a surplus of US$4.07 billion in the first 11 months, up 14.6% over the same period last year. This means that in the first 11 months, the Vietnamese rice industry also imported US$1.24 billion worth of rice.
Previously, Mr. Do Ha Nam, Chairman of the Board of Directors and General Director of Intimex Group Joint Stock Company, shared with Nguoi Lao Dong Newspaper that the record of exporting 9 million tons of rice in 2024 was due to production and business activities following market demands.
In terms of production, Vietnamese farmers are focusing on cultivating high-quality rice varieties, such as Dai Thom 8 and OM 18, which are favored by the international market. These varieties fetch good prices and provide high economic efficiency.
Vietnam also imports a significant amount of cheap rice from countries like India and Pakistan to cater to the processing needs and consumption of the low-end market segment. Additionally, there is a supply of rice from Cambodia, which serves both domestic consumption and export purposes, as the country lacks advanced processing infrastructure compared to Vietnam.
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