Vietnam exported 890,000 tons of rice in the first two months of 2020. (Photo for illustration)

Increasing rice demand in many markets has increased Vietnamese rice exports from early this year, leading to a surge of rice prices in the domestic market, said Deputy Director of the MARD’s Department of Plant Cultivation Le Thanh Tung.

During the first two months, the price of rice purchased at enterprises’ warehouses was 5,400-6,400 VND per kilo, 1,000 VND more than rice purchased at fields.

In the first two months this year, the price of 5 percent broken rice for export on the domestic market increased to 380 USD per tonne, a high since December 2018.

Vietnam is expected to export 6.7 million tons of rice in 2020.

Source: VNA