Vietnamese rice price rises following India’s export ban

The export price of Vietnamese rice has increased and many countries have looked to purchase more of its rice after India banned the export of non-basmati white rice.

The price of Vietnamese 5 per cent broken rice had increased 35 per cent to $558 per ton as of the end of July compared to the same period last year, according to the Vietnam Food Association.

China, the Philippines, and Indonesia have high demand for Vietnamese rice.

In the first half of the year, Vietnam exported over 4.2 million tons of rice, earning $2.26 billion, representing year-on-year increases of 21 per cent in volume and 32 per cent in value.

With these results, Vietnamese enterprises expect to fulfill the target of exporting over 8 million tons of rice this year, up 1 million tons compared to last year.