Rice milling for export in Mỹ Thành Nam commune, Cai Lậy district, the Mekong Delta province of Tiền Giang. — VNA/VNS Photo

Việt Nam sold 800,000 tonnes of rice overseas for US$505 million in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and $4.86 billion, up 10.2 per cent and 23.4 per cent year-on-year, respectively.

The average export price of the product between January and October was estimated at $626.2 per tonne, an annual increase of 12 per cent.

Last year, the country shipped 8.13 million tonnes of rice abroad. With the growth of the ten-month exports and domestic production capabilities, this year’s rice exports are expected to exceed the record set in 2023.

According to traders in the Mekong Delta, Việt Nam's 5% broken rice was offered at $520-$525 per tonne last week, lower than the price of $532 per tonne seen in the week before.

Bulog launched a tender on October 24 for this round, aiming to purchase approximately 500,000 tonnes of rice from Thailand, Việt Nam, Cambodia, Myanmar, Pakistan and India. Vietnamese businesses have secured three rice lots totalling 85,000 tonnes, representing 17 per cent of Indonesia's massive 500,000-tonne rice tender in October, according to the rice market news site SSRicenews.— VNS