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Vietnam spent nearly 700 million USD to import rice 

 Thursday, July 4,2024

AsemconnectVietnam - In the first 6 months of 2024, Vietnam spent nearly 700 million USD to import rice to serve domestic production and consumption needs.

According to a report by Ministry of Agriculture and Rural Development, in the first 6 months of 2024, Vietnam harvested 3.48 million hectares of rice, an increase of 0.5% over the same period last year; an average yield was 67.1 quintals/ha, an increase of 0.7 quintals/ha; rice output reached 23.3 million tonnes, an increase of 1.6%.
In terms of export turnover, in the first half of 2024, Vietnam sold 4.68 million tonnes of rice of all kinds, earning 2.98 billion USD. Comparing to the same period in 2023, rice exports increased by only 10.4% in volume but increased sharply by 32% in value due to high export price of this item.
In the first half of this year, rice ranked 5th in terms of export turnover in agricultural sector (after wood and wood products, seafood, vegetables, coffee) and was also one of the commodities that recorded a high growth rate.
Report of Ministry of Agriculture and Rural Development also stated that rice was in the Top 5 agricultural commodities with a high trade surplus, reaching 2.31 billion USD, an increase of 27% over the same period last year. Thus, in the first half of this year alone, our country had to spend about 670 million USD to import rice.
In 2023, Vietnam also spent nearly 860 million USD to import rice from other countries. Of which, mainly imported from Cambodia and India.
Experts and enterprises said that Vietnam's rice production meets consumer demand, ensures food security and has a large surplus of rice for export. However, Vietnam still imports some rice products from other countries to serve needs of production, processing and animal feed.

Source: Vitic/ congthuong.vn
 

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