Anticipating that rice yield and output are nearly hitting the ceiling, Vietnam is preparing for a revolution in rice farming, striving for 1 million hectares of high-quality rice.

Vietnam has promoted agricultural modernization and investment via a public-private partnership (PPP) commodity-based working group.

Enterprises on average need VND 150-200 billion to buy 10,000 tons of rice. They seriously lack capital for purchases, even if they mortgaged their assets for loans.

Vietnam’s rice exports surpassed the targeted plan by nearly 1 million tons, while export prices were higher than those of Thai and Indian rice.

In 2019, Ho Quang Cua’s ST25 rice won the World’s Best Rice award, causing a media storm and a fever of excitement throughout the country.

Vietnam shipped 600,000 tons of rice in November, bringing the total volume and value of rice export in the year through November to nearly 6.7 million tons

The price of Vietnamese rice has increased by US$30 compared to before the ban to fetch $408-428 per tonne.

The export price of Vietnamese rice stands at the highest spot on global markets, some US$20-50 per ton higher than the rice prices of Thailand and India.

For the first time, ST25 rice from Vietnam was used in a "special lunch" at the Japanese Cabinet Office. And the "Vietnamese Rice" brand is also on the shelves of 4,000 supermarkets in France.

Vietnam’s rice price is now at a peak, thanks to which the country earned US$3 billion of export turnover in January-October 2022, reported the Ministry of Agriculture and Rural Development (MARD).

India's restriction on rice exports is said to have an impact on the volume and price of Vietnamese rice exports.

Vietnam’s rice export volume amounted to nearly 4.8 million tons in the first eight months of this year and is likely to exceed the full-year target.

With India’s recent rice export restrictions, Vietnamese exporters expect to increase shipments and hike prices, industry insiders have said.

Viet Nam is expected to export between 6.5- 6.7 million tonnes of rice, bringing revenue of US$3.3 billion this year.

The Ong Cua ST25 rice variety is now being sold in the wider UK market after becoming popular among British-Asian consumers.

For the first time, Vietnam's ST25 rice has been used to process dishes on the menu of the Japanese Cabinet Office, Minister of Agricultural and Rural Development Le Minh Hoan has said at the recent government meeting.

“Com Viet Nam” produced by the Loc Troi Group was put on the selves of E.Leclerc Viry Châtillion, a hypermarket, operated by French retailer E.Leclerca on September 2.

The Thai government has announced that Thailand and Vietnam have reached an agreement to increase the price of domestically produced rice in the global market in the context of rising costs in rice production.

With the global food price index recently reaching its highest point, there is a positive outlook ahead for rice exporters in Asia, including Vietnam, moving forward, according to industry insiders.