Vietnamese rice prices surge

The average export price this year has topped 475USD/tonne compared with 435 USD in 2016 and 450 USD last year. This is the highest in the last 4 years after being undervalued for years. According to the Ministry of Agriculture and Rural Development, the higher price is due to the fact that in the past 3-4 years the agricultural sector has built up high quality rice varieties, which account for 80% of exports now.