Rice exports increased by 14.4% in volume and 35.3% in value over 2022. The Philippines was Vietnam's largest rice import market last year with more than 3.1 million tons; Indonesia imported 1.15 million tons; China over 908,000 tons; and Ghana 576,000 tons.

Vietnam is the world's 5th largest rice producer and the world's 3rd largest exporter (based on output). Despite the impact of El Nino, Vietnam's rice export output surged significantly.

Vietnam has seen a sharp rise in rice exports since the Indian government issued a ban on the export of non-basmati white rice in July last year and this ban has not been lifted to date. Currently, Indian rice accounts for about 40% of total global rice exports.