Vietnam exported 4.83 million tons of rice in the first seven months of this year, earning $2.58 billion, figures from the Ministry of Industry and Trade (MoIT) show.

This represents year-on-year increases of 18.7 per cent in volume and 29.6 per cent in value.

The average export price was $534 per ton, a 9.2 per cent increase compared to the same period last year.

Asia remains Vietnam’s biggest market, with 3.3 million tons in the first half of the year, accounting for 77.7 per cent of total rice exports.

The price of Vietnamese 5 per cent broken rice had increased to $590 per ton as of August 1 following India’s ban on the export of non-basmati white rice.

In the context of the global food market being affected by many factors, Minister of Industry and Trade Nguyen Hong Dien recently asked relevant agencies to improve the efficiency of rice export management.

Now is a good time to promote rice production and export as well as expand markets, he said, but enterprises need to pay attention to improving rice quality to ensure sustainable development and retain orders and markets.

Apart from boosting rice exports, it is also necessary to ensure food security in all circumstances, he added.