Vietnam's rice exports in the first quarter of 2023 saw a decrease of 19.3% in volume but an increase of 30.2% in value compared to the same period in 2022, totaling 1.79 million tons worth US$952 million. This uptick in value is attributed to a rise in prices, with the average price per ton reaching $531, a 9.2% increase from the previous year. The recovery in shipments to China and increased purchases by Indonesia have contributed to this surge. The Vietnam Food Association anticipates stable high prices for rice in the second quarter, predicting benefits for rice businesses. Additionally, the UN highlights the risk of drought in several countries in the latter half of the year, potentially leading to a decline in food production. This puts pressure on countries to increase their rice purchases to ensure food security, presenting a significant opportunity for Vietnamese rice exports.