Vietnam’s rice exports are expected to reach a record-high of 5 billion USD this year (Photo: Mai Huong/ kinhtetrunguong.vn)

In the first ten months of the year, Vietnam exported nearly 7.8 million tons of rice for 4.9 billion USD, up more than 23% from a year ago, according to the Ministry of Agriculture and Rural Development. The average price was 626.2 USD per ton, a 12% year-on-year increase.

Additionally, Vietnam’s rice supply primarily consists of fragrant varieties in the mid-range and premium segments, offering superior competitiveness compared to other nations. Farmers in the country have also been transitioning to rice varieties that yield higher quality and can better compete with other countries’ products.

The Vietnam Food Association noted that this transition has helped Vietnamese rice secure a strong position in the international market. Rice exports are expected to reach a record-high of 5 billion USD this year.