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).

VOV.VN - The consumer price index (CPI) rose 3.77% in the first quarter of 2024 compared to the same period last year, with core inflation standing at 2.81%, reported the General Statistics Office (GSO).

The recent falls in rice prices are only short-term and the upward trend will continue in 2024 on limited supply, providing significant opportunities for Vietnam’s rice export, analysts have said.

Vietnamese enterprises should seize the opportunities to increase rice exports to Indonesia which has allocated an additional rice import quota of 1.6 million tonnes for 2024 as dryness linked to the El Nino delayed harvest in the country, according to the Vietnam Trade Office in Indonesia.

VOV.VN - The prices of Vietnamese export rice have endured a sharp decline after hitting a record high recently, according to the Vietnam Food Association (VFA).

VOV.VN - Vietnam exported more than 8 million tonnes of rice in 2023, and the Philippines was the largest rice buyer, according to the General Department of Customs.

VOV.VN - Vietnamese rice export prices have soared to reach new record highs, with the average price now roughly US$100 per tonne higher than Thailand’s, according to Vietnam Food Association (VFA).

VOV.VN - Several regional countries such as Indonesia and the Philippines have recently moved to increase their imports of Vietnamese rice, opening up bright prospects ahead for the global and Vietnamese rice markets during the last months of the year, according to insiders.