BUSINESS
Vietnam’s rice sector expected to win big with exports in 2023

22 February 2023

Vietnam’s rice sector is expected to hit big from exports this year, heard a conference held by the Ministry of Industry and Trade (MoIT) in Ho Chi Minh City on February 21. VNA Tuesday, February 21, 2023 19:11HCM City (VNA) – Vietnam’s rice sector is expected to hit big from exports this year, heard a conference held by the Ministry of Industry and Trade (MoIT) in Ho Chi Minh City on February 21.

Speaking at the event, the Director of the MoIT’s Department of Export and Import Pham Van Chinh said thanks to the Government’s timely support, Vietnam exported 7.13 million tonnes of rice last year, up 13.8% in volume and 5.1% in value annually, making it among the top three rice exporters globally.

This year, Vietnam’s rice export is estimated at about 6.5-7 million tonnes thanks to higher demand for Vietnam’s quality rice.

According to the Vietnam Food Association, Vietnam’s rice export prices maintained growth in the first two months of this year.

Rice production for export is mostly in the Mekong Delta while that in other regions is mainly for domestic consumption, said the Ministry of Agriculture and Rural Development (MARD)’s Department of Crop Production.

Deputy Director of the Can Tho municipal Department of Industry and Trade Tran Minh Kiet said since the beginning of this year, exporters have fulfilled signed contracts and struck new deals. The agreements have been mostly shipping jasmine rice to the Philippines, Ghana, Cameroon, Ivory Coast, and especially the Republic of Korea.

Deputy Director of the An Giang provincial Department of Industry and Trade Nguyen Thanh Huan proposed that the MoIT continue assisting localities with market information as well as inviting domestic and foreign importers to localities for the purchase of agro-fisheries.

Besides, the MoIT and MARD suggested China hold more trips to Vietnamese localities to grant licenses to eligible businesses to export rice to the country.