Positive signals for rice exports in 2023

Vietnam exported nearly 7.2 million tons of rice worth US$3.49 billion last year, including many shipments navigating demanding markets such as Japan and the European Union (EU).
Illustrative image (Source: VNA)

Illustrative image (Source: VNA)

Minister of Agriculture and Rural Development Le Minh Hoan said the sales signaled that Vietnamese rice has gained better quality, from choosing varieties for cultivation and standardisation to meet requirements of each market.

Aware of the need to build long-term business strategies, major rice exporters such as Trung An Hi-tech Farming JSC and Loc Troi Group have teamed up with farmers and cooperatives in material zones to generate stable and quality rice supply.

Vice Chairman of the Vietnam Food Association Do Ha Nam said thanks to jasmine and high-quality rice, Vietnam won a number of markets and recorded fast growth in demanding markets such as the US and the EU.

Many firms already received orders until April or even the third quarter of this year.

The VFA forecast that domestic rice exporters have a distinct advantage this year thanks to high rice prices and huge demand from China, the Philippines and Africa.

The Philippines, the biggest importer of Vietnamese rice, has decided to maintain import tax of 35% this year.

Meanwhile, the second Vietnamese rice importer - China - will lift its zero-Covid policy and reopen its borders with Vietnam, Nam said.

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