List of rice export traders as of October 8, 2024

As of October 18th, 170 traders were eligible to export rice. The Ministry of Industry and Trade issued certificates to 161 traders who met the requirements for rice export.

Compared to the number of traders previously announced by the Ministry of Industry and Trade (on August 1st), the number of traders has decreased by 6.

Ho Chi Minh City leads in the number of rice export traders with 38 traders, followed by Can Tho with 34 traders (a decrease of 1 trader compared to August 1st), and Long An with 21 traders (a decrease of 1 trader compared to August 1st).

According to data from the Ministry of Agriculture and Rural Development , in the first nine months of 2024, Vietnam exported more than 7 million tons of rice, worth US$4.37 billion. Compared to the same period in 2023, the volume of rice exports increased by 9.2%, and the value increased by 23.5%. The average export price of Vietnamese rice in the first nine months of 2024 was US$624 per ton, an increase of 13.1% compared to the same period in 2023.

With signed orders, it is estimated that more than 2 million tons of rice will be needed for export in the fourth quarter of 2024, bringing the total projected rice exports to over 9 million tons. However, domestic rice reserves for export have been depleted, while the North faces the risk of crop failure, with nearly 300,000 hectares of rice fields in the northern provinces flooded and damaged by Typhoon No. 3. While not a major rice-producing region for export, this will significantly impact the domestic supply, leading to a large amount of rice from the Mekong Delta being diverted to the North instead of being exported to meet domestic demand.

Given this situation, many businesses believe that in the last quarter of 2024, they will have to increase rice imports to meet export orders. In the first nine months of 2024, Vietnam spent $996 million to import rice to serve domestic production and consumption needs, an increase of 57.3% compared to the same period in 2023. This is also a record high figure in history, and far exceeds the $860 million import value of 2023.

The Vietnam Food Association stated that in the fourth quarter of 2024, domestic rice supply is currently limited, and some export businesses will have to increase rice imports from neighboring countries to fulfill export orders in the final months of the year. Therefore, if businesses continue to participate in bidding for rice packages offered by Indonesia, they will have to increase imports from neighboring countries.

View the list of rice exporting traders as of October 8, 2024 here.

Source: https://congthuong.vn/danh-list-of-traders-exporting-rice-until-8102024-351127.html