Since the beginning of this year, El Nino has significantly affected crop yields, leading to a reduction in global rice supply.

The latest data from Customs show that in the first half of the year, rice exports reached more than 4.2 million tons, worth US$2.26 billion

In the first five months of the year, the rice industry brought in a record export turnover of $1.9 billion, up 41.6% over the same period

The potential of Vietnam’s rice exports is great as the world demand for the country’s staple skyrockets

The export prices of Vietnamese rice in the first two months of 2023 rose by 9.8% year-on-year to 528.5 USD/tonne, according to the MARD

Vietnam’s rice sector is expected to hit big from exports this year, heard a conference held by the MoIT in HCM City on February 21

According to the Ministry of Agriculture and Rural Development, in January 2023, Vietnam's rice exports dropped sharply by 20.9% in volume

Meanwhile, the FAO rice price index reached 114.6 points, up 2.3% compared to October 2022 and up 14.7% over the same period last year.

The market will remain favorable for Vietnam's rice exports through the first quarter of 2023.