Global food crisis: Vietnamese rice prices reach highest level in history, generating $4 billion in revenue.

The global rice crisis is returning. Retail prices, export prices, and the value of rice exports from our country are all breaking previous records, reaching unprecedented levels.

Climate change is causing a decline in global rice supply, while demand for the commodity continues to rise. India's decision to ban the export of non-basmati rice last July is considered the starting point of a prolonged global crisis. Many countries are scrambling to buy large quantities of rice to increase their reserves, causing supply to fluctuate and prices to skyrocket. In particular, the price of rice domestically and exported from Vietnam has surged, continuously surpassing previous records. Currently, Vietnamese rice is at its most expensive ever, and Vietnam also has the highest export price for rice in the world . Vietnam's rice export revenue officially reached a record $4 billion in just 10 months of 2023. This is also the highest figure in 34 years since Vietnamese rice entered the world market.

Vietnamnet.vn