Vietnam’s rice exports brought in $531 per ton in the first quarter of 2023, the highest level for the past decade, figures from the Ministry of Agriculture and Rural Development show.

The figure represents a year-on-year increase of 9.2 per cent.

Vietnam exported 1.79 million tons of rice in the first quarter worth over $952 million, down 19.3 per cent in quantity but up 30 per cent in value year-on-year.

The Philippines remained the largest market, accounting for 43.3 per cent. Vietnam shipped 608,000 tons of rice to the country, earning $409 million, with China and Indonesia following.

The Vietnam Food Association has forecast that rice exports will increase in the second quarter. Prices are expected to remain high due to rising demand for rice reserves in countries amid the global uncertainties.