Vietnam exported 1.48 million tons of rice worth $715 million in the first three months this year, up 24 percent in volume and 10.5 percent in value against the same period last year, according to the Ministry of Agriculture and Rural Development.

The ministry said stable global demand and high transportation costs resulted in March’s price hike.

Vietnam’s 5 percent broken rice was sold at $415-420 per ton in late March, up $20 per ton from the beginning of the month. On average, the rice has cost $414 per ton in the world market in March, up $16 per ton against February.

Meanwhile, Thailand’s 5 percent broken standard rice was sold at $408-412 a ton, down $16 from the beginning of the month as the baht continued to drop against the dollar.

Vietnam exported over 6.2 million tons of rice for nearly $3.3 billion last year, according to the General Department of Vietnam Customs.

The average export price of Vietnamese rice rose 5.5 percent in 2020 to $526.8 per ton in 2021, according to the agriculture ministry.