Vietnam’s rice export prices hit record high

(VOVWORLD) - Vietnam earned 4 billion USD from shipping more than 7.1 million tonnes of rice abroad in the past 10 months as the prices of Vietnamese export rice have soared to the highest level ever, according to the Vietnam Food Association (VFA) at a seminar in Can Tho city on Friday.

Vietnam’s rice export prices hit record high - ảnh 1A seminar on ways to improve the value chain of Vietnamese rice takes place in Can Tho city on November 3, 2023. (Photo:VOV)

Vietnam’s 5% broken rice sells for 653 USD per tonnes, Pakistan’s for 563 and Thailand’s for 560. The 25% broken rice sells at a record high of 638 USD per tonnes, about 120 USD more than the price in Thailand and Pakistan. VFA Chairman Nguyen Ngoc Nam credits these achievements to the collaborative efforts of stakeholders.

“In line with government directives, businesses, the Vietnam Food Association, and entities in the rice industry supply chain collaborated with local departments to achieve practical results,” he said.

As the VFA expects unpredictable developments in the rice market, analysts recommend that Vietnamese enterprises improve technology and reduce production costs to reach the target of exporting 8 million tonnes of rice this year.

Related News