Major commodity: Farmers are seen harvesting rice in a field in Can Tho. Vietnam exported more than 1.85 million tonnes of rice, worth nearly US$1bil (RM4.5bil), during the first quarter of the year. — AFP
HANOI: Vietnamese rice continues to do well in the international markets, fetching both significantly higher prices and a larger number of orders in the first quarter of 2023, according to the Import/Export under Department the Industry and Trade Ministry.
Vietnam exported more than 1.85 million tonnes of rice, worth nearly US$1bil (RM4.5bil), during the first quarter of the year, a 23% increase in volume and a 34% increase in value compared to the same period last year, according to Tran Quoc Toan, the department’s deputy director.
A tonne of Vietnamese rice fetched US$529 (RM2,359) on the international markets, up nearly 9% compared to the same period in 2022.
During the first quarter of 2023, the country also overtook Thailand and India in 5% broken rice volume to become the world’s top rice exporter.
Vietnam’s growth in rice exports has largely contributed to growing market share in major markets such as the European Union, with the country’s main products being high-quality fragrant rice and rice-based products.
It showcased the improved quality of Vietnamese rice and the efforts made by local producers to meet stricter and higher safety and environmental standards set by developed markets around the world.
In addition, in recent years, the country has been expanding its product portfolio, introducing additional offerings such as glutinous rice, white rice, organic rice and rice with enhanced nutritional value.
Vietnam has actively sought to reduce the proportion of low-quality rice products for export in recent years. — Viet Nam News/ANN
