India’s recent ban on rice exports has sent the global rice market into chaos with speculative hoarding and panic buying, which brought a significant opportunity for Vietnam to increase exports.

The Vietnam Food Association (VFA) has recently recommended introducing a floor price for the export of rice from Vietnam to safeguard stable supply amidst a significant surge in rice prices globally.

Vietnamese rice farmers are still grappling with poverty even though the country is one of the world’s largest rice exporters, Agriculture and Rural Development Minister Le Minh Hoan said.

The Ministry of Industry and Trade (MoIT) is building a long-term strategy on rice export and market stabilisation, following bans by several countries, according to Deputy Director of the MoIT's Import-Export Department Tran Quoc Toan.

A rice shortage has pushed global rice prices up to a new high and caused domestic prices to escalate. This has exposed the vulnerabilities of Vietnam’s rice production.

The global rice price has soared, but the upward trend is not expected to last a long time. Rice experts have been urged to take advantage of the opportunity to boost exports.

While other big rice producers, including India, have imposed a rice export ban, Vietnam has stated it will take full advantage of the rice price increase to boost exports.

Vietnam has been advised to take drastic measures to balance rice exports and reserves in a bid to ensure food security amid global food chain fluctuations, according to insiders.

Rice export prices of Vietnam have reached their highest in 12 years after a series of countries restricted rice exports.

Rice prices in Vietnam's Mekong Delta region last week reached a record high in the last 10 years after India banned the export of non-basmati white rice.

Vietnam’s rice export prices have soared to new records in the wake of India’s ban on exports of white rice, now surpassing US$550 per ton.

The rising demands for rice in international markets and higher prices are benefiting rice exporters as the number of orders has increased sharply.

The average export price of Vietnam's rice last year was US$650 per tonne, up 20.8 per cent over the same period last year.

The rice industry expects to gain an output of 43.11 million tonnes this year. Rice exports are expected to reach around 8 million tonnes in 2023,...

Prime Minister Pham Minh Chinh has issued an official dispatch on enhancing the implementation of tasks and measures to promote rice production and export.

Vietnam remained the biggest rice provider of the Philippines in the first five months of this year with turnover of 772.4 USD million, surging 31.1% year-on-year.

Deputy Prime Minister Le Minh Khai has signed a decision approving the Strategy on Development of Viet Nam's Rice Export Markets until 2030.

Vietnam’s rice exports are forecast to remain favorable this year, with an estimated 6.5-7 million tons.

Vietnam is very likely to benefit from the upward trend in rice prices which is fueled by limited supplies and a shift away from the Indian supply.

Vietnam’s rice export activity has shown positive signs early this year, with 6.5-7 million tons of rice forecast to be exported in all of 2023.