In the first quarter of 2023, the average export price of Vietnamese rice reached US$529/ton, an increase of nearly 9 percent against the same period last year.

Rice export turnover reached more than 1.85 million tons of rice with a value of US$981 million, up over 23 percent in volume and 34 percent in turnover over the same period in 2022.

Notably, at many times, export price of 5 percent broken rice ranked first in the world, higher than that of the same type in Thailand and India.

The first quarter of 2023 recorded good growth compared to the same period in 2022 in both traditional and potential markets. In particular, the value of rice exports to the EU recorded remarkable growth.

Currently, the demand for rice imports in Viet Nam's traditional markets, such as the Philippines, China, Indonesia and African countries, is increasing. Also, the need for food reserves in European countries has also increased due to the Russia-Ukraine conflict.

Meanwhile, the supply of rice from the world's leading rice-exporting countries, such as India and Pakistan, continued to be limited, and the price of Thai rice increased due to the strengthening of the baht.

Viet Nam has the advantage of early supply from the winter-spring rice crop, the output and quality of rice are stable, so it is forecasted that in the short term, Viet Nam's rice price will still be at a reasonable level./.

Source: Government News