Vietnam exported 5.18 million tons of rice in the first seven months of the year, gaining revenue of $3.27 billion, according to the Ministry of Agriculture and Rural Development.

The figure represents a year-on-year increase of 5.8% in volume and 25.1% in value.

In July alone, the country exported nearly 500,000 tons of rice, worth $290 million.

The average price export during the Jan-July period was estimated at $632 per ton, up 18.2% year-on-year.

Key export markets are the Philippines, Indonesia, Malaysia and Singapore with the Philippines remaining the biggest rice importer of Vietnam.

In the seven-month period, Vietnam exported 1.98 million tons and 830,000 tons of rice to the Philippines and Indonesia, accounting for 38.2% and 16% of the total, respectively.

For Singapore, Vietnam remained the biggest rice supplier, accounting for 32.69% of its market share. Vietnam earned over $54.6 million worth of rice export to Singapore during the first half of 2024, a year-on-year surge of 54.67%.