Vietnam Takes Top Spot as Global Rice Exporter due to Price Surge in 2021

Vietnam has reclaimed its position as the top exporter of rice in the global market, thanks to a recent increase in prices. The price of Vietnam’s 5 per cent broken rice has risen to US$585 per ton, surpassing Thailand and Pakistan by US$3 and US$10 respectively. Additionally, Vietnam’s 25 per cent broken rice and 100 per cent broken rice are now priced at US$555 and US$470 per ton, respectively.

The rise in prices has led to a substantial increase in revenue from rice exports for Vietnam. In the first four months of this year, the country earned US$2.08 billion from exporting 3.23 million tons of rice, marking a 36.5 per cent increase in value and an 11.7 per cent increase in volume compared to the same period last year.

Looking ahead, Vietnam’s rice output is projected to reach 43 million tons by 2024. This level of production is expected to cater to domestic consumption while also meeting the export demand of more than 8 million tons. The Ministry of Agriculture and Rural Development remains optimistic about the country’s ability to sustain and grow its rice industry in the coming years.