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.