The Ho Chi Minh City Department of Industry and Trade said that the export price of Vietnam's five percent broken rice is at US$633 per ton, up 40.2 percent over the beginning of 2023 while the export price of Vietnam’s 25 percent broken rice is traded at US$643 per ton, increasing 41.9 percent compared with the beginning of the year which have had good impact to rice export activities and brought benefits to farmers.
In reality, Vietnam's rice exports revenue from the beginning of the year has set a new record with US$4 billion which has been the highest figure in 34 years since Vietnam has joined the world rice export market.
According to economic experts, Vietnam’s rice export price has surged sharply due to the strong downturn of the supply in the world market, affecting the global food supply chain.
At the current times, Ukraine's wheat export activities are being disrupted, reducing supply to the world wheat market by 10 percent, corn by 15 percent and barley by 13 percent.
On the other hand, massive countries have imposed export ban orders for food such as India with the products of rice, wheat and sugar; Russia with the products of rice and wheat; Turkey and Kyrgyzstan with cereal and so on.
Besides, the crops in Pakistan have been unfavorable and Thailand is encouraging people to reduce rice planting which has been seriously affecting the global food supply chain.
