Vietnam has seen a significant rise in rice exports, totaling 2.1 million tons in the first quarter of this year, marking a remarkable 42% increase compared to the same period last year.

The Ministry of Agriculture and Rural Development attributes this surge to heightened demand from key rice importers such as the Philippines, Indonesia, China, Ghana, Malaysia, and Singapore. These countries seek to diversify their rice sources, prompting Vietnam to capitalize on new market opportunities and enhance the quality of its rice for improved competitiveness.

Despite a 12% decrease in the price of Vietnam's 5% broken rice, now at US$576 per ton, from the start of the year, the country remains optimistic about achieving its goal of reaching $5 billion in revenue from rice exports in 2024.