Vietnam's Rice Exports Face Unprecedented Drop in 2023

Vietnam is projected to export 7.5 million metric tons of rice this year, a significant decrease from last year's record high of 9.04 million tons. The country faces challenges from India's increased rice supplies and Indonesia's reduced imports.

Vietnam's rice exports are expected to drop to 7.5 million metric tons this year, according to the chairman of the Vietnam Food Association. This marks a steep decline from the previous year's record of 9.04 million tons.

The decline in export volume comes as Vietnam grapples with anticipated increased rice supplies from India, the world's largest exporter of the grain.

Additionally, Indonesia's strategic move to reduce its rice imports poses another challenge for Vietnam's rice export market.

(With inputs from agencies.)