Vietnam expected to export 7.2-7.3 million tons of rice in 2022, highest in the world

Currently, over 2.7 million tons of rice are exported to the Philippines, making up about 45% of all exports and totaling over $1.2 billion.

Rice exports from Vietnam to developed countries grew rapidly: the US market saw an 85% increase while the EU market saw an 82% increase.

One of the most significant accomplishments is that Vietnam has eclipsed Thailand in terms of rice export prices, which are still at an all-time high.

According to the Vietnam Food Association, The selling price of 5% broken rice for export is $438 /ton, up $10/ton, and 25% broken rice is $418/ton, up $10/ton. The cost of Vietnamese rice is currently roughly $20/ton more expensive than Thai rice of the same variety.

Given the current circumstances, experts in agriculture believe that the price of Vietnamese rice in the early months of 2023 would stay high and maybe even rise.