VOV.VN - The export price of Vietnam’s 5% broken rice has risen for the second consecutive week, reaching US$397 per tonne, an increase of US$3 from the previous week, according to the Vietnam Food Association (VFA).

Vietnamese Trade Counselor in India Bui Trung Thuong has urged Vietnamese rice exporters to strengthen their global competitiveness and diversify markets and sales channels following New Delhi’s recent decision to lift its ban on 100% broken rice export.

The Vietnamese rice sector is likely to face a host of challenges in export in 2025 after a successful year in 2024, according to experts.

VOV.VN - In 2024, Vietnam is expected to set a new record for rice exports, with forecasts indicating over 8 million tonnes would be exported and total export revenue would potentially surpass US$5 billion.

Vietnamese businesses have secured three rice lots totalling 85,000 tonnes, representing 17% of Indonesia's massive 500,000-tonne rice tender in October, according to the rice market news site SSRicenews.

VOV.VN - As many as 163 Vietnamese businesses have been certified to meet the conditions for rice export, according to an update from the Import-Export Department under the Ministry of Industry and Trade.

Vietnam has many opportunities to promote rice exports in the second half of this year, even though India could change its rice export policy in the next few months, according to the Ministry of Industry and Trade (MoIT).

Although inflation has been controlled in accordance with the set target, state management agencies and enterprises have stayed vigilant and prepare price stabilisation measures in the remaining months of the year.

The Ministry of Finance (MoF) said on June 5 that in the first five months of 2024, domestic market prices were basically stable, with market developments in line with the price management scenario set by the Prime Minister’s Steering Committee for Price Management.

The prices of Vietnamese paddy and rice continued to increase last week, according to the the Vietnam Food Association (VFA).