Sunday , June 4 2023

Rice export prices on the rise

Vietnam’s rice export prices grew 9.2% year on year to $532 per tonne in the first quarter of 2023, 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 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.

Vietnam exported 1.79 million tonnes of rice, earning $952 million between January and March.

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