The global rice crisis is back. Retail prices, export prices and export value of this commodity from our country have all broken previous records, reaching the highest level in history.
Climate change is reducing global rice supplies while demand is growing. India’s decision to ban non-basmati rice exports in July is seen as the start of a global crisis.
Many countries are racing to buy large quantities of rice to increase their reserves, causing the supply of this commodity to fluctuate and rice prices to skyrocket. In particular, domestic rice prices as well as export prices of Vietnam have increased sharply, continuously surpassing previous records. Currently, Vietnamese rice is the most expensive ever and our country is also the country with the highest rice export price in the world.
Vietnam's rice export turnover officially set a record of 4 billion USD in just 10 months of 2023. This is also the highest figure after 34 years of Vietnamese rice entering the world market.
According to Vietnamnet