Ministry of Agriculture and Rural Development (MARD) of Vietnam said that in the first four months of the year, Vietnam's rice exports had an impressive recovery, with export value exceeding the 1 billion USD milestone.

In particular, Vietnam's rice export price remains at a higher level than that of countries such as Thailand and India.

According to MARD, in April, Vietnam exported about 550 thousand tons of rice with a value of 273 million USD, bringing the total volume in the first 4 months of the year to 2.05 million tons, valued 1 billion USD, up 4.4% in volume but down 6% in value over the same period in 2021.

Despite the decrease in value, Vietnam's rice price still remains at a higher level than other countries. For example, Thailand's 5% broken standard rice in April was at $410 - 412/ton, India's 5% broken rice was at $361-365/ton, down $10/ton from the previous month.

Meanwhile, Vietnam's 5% broken rice exports, after rising to $425/ton in mid-April, fell back to $415/ton, equivalent to the March average.

The Philippines continues to be Vietnam's largest rice consumption market with 42.6% market share. In particular, Vietnam's rice import market with the strongest increase was Ivory Coast (76% over the same period last year).

According to MARD, Vietnam's rice exports are expected to increase in the coming months, with stronger demand from markets such as China, Bangladesh, Iran and Sri Lanka.