Climate change has caused a decline in global rice supply, while demand for this commodity is increasing. 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 racing to buy large quantities of rice to increase reserves, causing the supply of this commodity to fluctuate and rice prices to skyrocket. In particular, domestic rice prices as well as export prices of Vietnam have increased sharply, continuously surpassing previous records. Currently, Vietnamese rice is the most expensive ever and our country is also the country with the highest rice export price in the world. Vietnam's rice export turnover officially set a record of 4 billion USD in just 10 months of 2023. This is also the highest number after 34 years of Vietnamese rice entering the world market.
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