Vietnam has spent nearly $700 million importing rice.

According to a report by the Ministry of Agriculture and Rural Development , in the first six months of 2024, the whole country harvested 3.48 million hectares of rice, an increase of 0.5% compared to the same period last year; the average yield was 67.1 quintals/hectare, an increase of 0.7 quintals/hectare; and the production from the harvested area reached 23.3 million tons, an increase of 1.6%.

Vietnam has spent nearly $700 million importing rice.

Regarding export turnover, in the first half of 2024, Vietnam sold 4.68 million tons of various types of rice, earning 2.98 billion USD. Compared to the same period in 2023, rice exports increased by only 10.4% in volume but surged by 32% in value due to the high export price of this commodity.

In the first half of this year, rice ranked fifth in terms of export value in the agricultural sector (after wood and wood products, seafood, fruits and vegetables, and coffee), and was also one of the items recording high growth rates.

The report from the Ministry of Agriculture and Rural Development also stated that rice is among the top 5 agricultural products with a high trade surplus, reaching $2.31 billion, a 27% increase compared to the same period last year. Thus, in the first half of this year alone, Vietnam spent approximately $670 million to import rice.

In 2023, Vietnam also spent nearly $860 million to import rice from other countries. The majority of this import came from Cambodia and India.

Experts and businesses say that Vietnam's rice production meets consumer demand, ensures food security, and has a large surplus for export. However, the country still imports some rice products from other countries to serve the needs of processing and animal feed production.

Source: https://congthuong.vn/viet-nam-da-chi-gan-700-trieu-usd-de-nhap-khau-gao-329139.html