Rice export prices on the rise
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Vietnam’s rice export prices grew 9.2% year on year to $532 per tonne in the first quarter of 2023, said the General Department of Vietnam Customs.
The price increase was attributed to a surge in the proportion of high-quality rice such as fragrant, glutinous, and specialty rice.
High-quality rice is accounting for 50% of the total export volume and sold at $600-1,000 per tonne at present.
Experts predicted that favourable conditions will remain for rice export and prices will stay good in the short term as the share of high-quality rice is increasing and global economic and political uncertainties are boosting food stockpiling demand.
Vietnam exported 1.79 million tonnes of rice, earning $952 million between January and March.
Questions & Answers
Q.What was the average price of Vietnamese rice exports in the first quarter of 2023?
What was the average price of Vietnamese rice exports in the first quarter of 2023?
The average price for Vietnamese rice exports reached $532 per tonne. This represents a 9.2% increase compared to the same period in the previous year, according to the General Department of Vietnam Customs.
Q.What is driving the increase in rice export prices?
What is driving the increase in rice export prices?
The price increase is attributed to a higher proportion of high-quality rice being exported. Fragrant, glutinous, and specialty rice now accounts for 50% of the total export volume, selling for $600-1,000 per tonne.
Q.How much rice did Vietnam export in the first three months of 2023?
How much rice did Vietnam export in the first three months of 2023?
Between January and March, Vietnam exported 1.79 million tonnes of rice. This volume generated total earnings of $952 million for the country.
Q.What is the short-term outlook for Vietnamese rice export prices?
What is the short-term outlook for Vietnamese rice export prices?
Experts predict favourable conditions will continue, and prices will remain strong in the short term. This is due to the increasing share of high-quality rice and boosted food stockpiling demand from global uncertainties.
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