President Ferdinand Marcos Jr., who is also the Secretary of Agriculture of the Philippines, announced this order on October 4

At the end of the trading session on August 28, the price of Vietnam's 5% broken rice was higher than that of Thailand and Pakistan

Prices of Vietnam’s exported rice are still the highest in the world, with that of 5% broken rice reaching 638 USD per tonne

The prices of Vietnam’s rice exports have reached the highest level in 15 years following export restrictions in some countries.

"With the current situation, it must be affirmed that businesses have many advantages in negotiating and signing contracts

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

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

While the export price of rice from Thailand and Pakistan is falling sharply, Vietnamese rice remains at a record high for the past 10 years

While many key commodities recorded a sharp decline due to the absence of orders, rice exports still maintained a high growth momentum

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

Vietnam's rice exports are expected to rise to 6.3 million-6.5 million tonnes this year from 6.24 million tonnes last year on strong demand