Rice export prices on the rise

Vietnam’s rice export prices grew 9.2% year on year to 532 USD per tonne in the first quarter of 2023, raising the export value of 1.79 million tonnes during the period by 30.2% to 952 million USD, said the General Department of Vietnam Customs.

The price increase was attributed to a surge in the proportion of high-quality rice such as fragrant, glutinous, and specialty rice.

High-quality rice is accounting for 50% of the total export volume and sold at 600 - 1,000 USD per tonne at present.

Experts predicted that favourable conditions will remain for rice export and prices will stay good in the short term as the share of high-quality rice is increasing and global economic and political uncertainties are boosting food stockpiling demand.