Record High Prices for Vietnamese Export Rice
Published on: November 4, 2023.
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Vietnamese Export Rice Prices Reach Record Highs in 2023
The prices of Vietnamese export rice have reached a new record high, according to the Vietnam Food Association. Vietnamese 5 percent broken rice is currently being traded at $653 per ton, an increase of $10 per ton. Additionally, the price of 25 percent broken rice has reached a record high of $638 per ton.
These prices mark the highest point for Vietnamese export rice in the past 10 years, surpassing the previous peak in mid-July by $15 per ton. Vietnamese exporters attribute this increase to the high quality of the rice, which has gained popularity among foreign consumers. They anticipate that by the end of 2023, Vietnamese rice can be sold at prices ranging from $640 to $650 per ton.
In addition to the soaring prices, Vietnam’s rice export turnover has also experienced significant growth in the first 10 months of 2023. According to the General Department of Vietnam Customs, Vietnam has exported over 7.1 million tons of rice, valued at $4 billion, during this period. This signifies a 35 percent increase in value and a 17 percent increase in volume compared to the previous year.
The Ministry of Agriculture and Rural Development predicts that Vietnam’s rice exports in 2023 will reach a total of 8 million tons.
For more information about Vietnamese rice exporters, please visit hasrice.com.
