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Why booming Vietnamese rice exports matter to foreign firms

Vietnam’s rice exports from January to August of this year were 20 percent higher than they were over the same period in 2022, according to The Investor

Why it matters: Whereas foreign investment in rice production is relatively small, rice prices are a key contributor to Vietnam’s consumer price index which is a key indicator of Vietnam’s rate of inflation–ergo, rising rice prices could indicate stronger inflationary pressure. The Vietnamese dong has been on a steady decline since April, increasing the costs of imports and increasing the returns on exports delineated in US dollars. This could be further exacerbated by rising rice prices.

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