It is now 16.6% higher than Thailand’s and 16% higher than Pakistan’s, according to the Vietnam Food Association.

In the last four weeks Vietnam’s 5% broken rice price has risen 6.5%.

A farmer harvests rice in the Central Highlands province of Kon Tum.

Vietnam’s 25% broken rice is at $638, 22.7% higher than Thailand’s and 30.7% more expensive than Pakistan’s.

Domestically in Vietnam rice prices have been hitting new peaks, some up 16% year-on-year.

Industry insiders say that the price surge came thanks to rising demand globally and the improving quality of Vietnamese rice.

As India’s ban on some rice variety exports remains, the world is seeing a 40% drop in supply from the country, while other countries such as Indonesia, China and the Philippines still have high demands.

In the first 10 months Vietnam exported 7.1 million tons of rice, up 35% in volume, according to Vietnam Customs. The figure can reach a new milestone of 7.8 million by the end of the year.

The rice crop area has increased by 30,000 hectares year-on-year. In the first season of next year, yield is set to rise from 2022 to reach 20 million tons as farming techniques improve, according to the Ministry of Agriculture and Rural Development.

Bonanza for sweet potato farmers as prices double

Sweet-potato growers in the Central Highlands are enjoying a windfall as prices have doubled from last year to VND15,000–20,000 ($0.61-0.82) per kilogram on higher demand and declining output.

Rice exports all set for record high this year

Vietnam’s rice exports are likely to reach record volumes this year on the back of burgeoning global demand and its large output.

Soaring global demand drives rice exports higher

Vietnam has exported six million tons of rice worth US$3.2 million this year, 21% and 35% up in terms of volume and value from the same period last year.

8-month rice exports reach all-time high

Eight months into 2023, rice exports surged to an all-time high at nearly six million tons, a 20% increase compared to last year, reaching 89% of the target this year.

Prices of Vietnam's exported rice highest in the world

Prices of Vietnam's exported rice are still the highest in the world, with that of 5% broken rice reaching US$638 per tonne, and 25% broken rice $623 per tonne, according to the Vietnam Food Association.

Source: VnExpress