Vietnam exported nearly 3.9 million tons of rice in the first five months of this year, earning $2.02 billion, according to the Ministry of Agriculture and Rural Development.

The figure represents an increase of 40.8 per cent in volume and 49 per cent in value year-on-year.

Rice posted the highest growth in export value among Vietnam’s agriculture, forestry, and fishery products during the period.

The rice export price has continued upwards and now stands at $527 per ton.

The Philippines remained the largest importer of rice from Vietnam in the first four months, with 1.29 million tons worth over $647 million.

Vietnam targets exporting 6.5-7 million tons of rice in 2023.