Export prices have skyrocketed in Vietnam: Rice export businesses aim for a sustainable development chain

Rice

Vietnam

Market & Price Trends

Published Nov 13, 2023

Tridge summary

Vietnam's rice exports are at a high level, with an estimated increase of 17% in volume and 34.9% in value compared to the same period last year. The export prices of Vietnamese rice have reached the highest level among major rice-exporting countries, indicating positive signs for the market. To sustainably export rice, businesses should expand growing areas, diversify rice types, develop high-quality rice, and build a strong rice brand in the world market.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Vietnam's export rice price is still anchored at a very high level. However, only businesses that can ensure a sustainable rice supply chain can make the best use of this market opportunity. Rice exports increase. The rice market is still in a very vibrant stage. According to inter-ministerial data, it is estimated that by the end of October 2023, Vietnam will export 7.1 million tons of rice with a value of about 3.97 billion USD, an increase of 17% in volume and an increase of 34.9% in value. price compared to the same period in 2022. The average export price is estimated to reach 558 USD/ton, an increase of 15.3% over the same period in 2022. Rice exports have been showing many positive signs when prices increase, income increases. People growing rice is increasingly improving. According to information from the Vietnam Food Association (VFA), in the early days of November, Vietnam's rice export prices continued to increase and reached the highest level compared to the group of ...

Source: Baosoctrang