According to a report from the Ministry of Agriculture and Rural Development, the Philippines were the largest rice importer of Vietnam with 1.29 million tonnes valued at USD 647.50 million, up 40.60 percent in volume and 53.40 percent in value compared to the same period last year.

Indonesia, which was among 15 largest rice consumers of Vietnam during the period, made a record purchase of 26 times higher than the volume of the same period last year.

Average rice prices reached USD 517 a tonne, up 5.80 percent on-year.

Vietnam's rice export in 2023 is forecasted to further increase given the effects of climate change and drought in the US, Europe and China.

Nguyen Phuc Nam from the Ministry of Industry and Trade Nguyen Phuc Nam said that Vietnam's rice export to Asia accounted for 70 percent, followed by Africa with 11 percent.