In 2022, the country's rice exports reached nearly 7.2 million tons (equivalent to over USD 3.49 billion) and set a new record in the context of market fluctuations. At the same time, this is also quite a successful year for rice enterprises when there are many orders from significant markets.
According to data from world organizations, in 2022, global rice production decreased slightly compared to the previous year. 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. This shows that the demand for rice continues to increase.
Facing many incidents in the world food market in 2022, Vietnam's rice exports have reached nearly 7.2 million tons with a value of USD 3.49 billion. In particular, Vietnamese rice has penetrated markets with strict quality requirements, such as Japan, and the EU, and fragrant rice ST24 and ST25 exported have cost over 1,000 USD/ton, more than two times higher than the price export of ordinary white rice. This is quite a successful year for rice exporters when there are many export orders from significant markets.
Forecasting for the market in 2023, according to experts, rice exports will continue to be good thanks to the fact that rice prices in the short term will remain high due to the increased demand for food reserves. The positive signals from the market are high prices, so the rice export contract in the new production year will be good. From there, farmers will also have better profits.
Read more: RICE INDUSTRY REPORT