Vietnam's rice export prices have reached the highest levels globally, surpassing those of Thailand, Pakistan, and other major exporters, the Vietnam Food Association (VFA) has announced.

Vietnam’s rice output is expected to reach 43 million tons in 2024, which is able to ensure domestic consumption and export demand of more than 8 million tons, according to the Ministry of Agriculture and Rural Development.

Agro-forestry-fishery exports are estimated to have yielded 8.8 billion USD in the year’s first quarter, a year-on-year fall of 2.9 percent, the Ministry of Agriculture and Rural Development has said.

Prime Minister Nguyen Xuan Phuc chaired a working session with ministries and agencies in Hanoi on February 19 to discuss the acceleration of rice purchase as a way to improve income for farmers.

The 10th World Rice Conference will be held in Hanoi for the first time from October 10-12.

The prices of Vietnam’s sticky rice are facing a downward trend due to its over-supply and dependence on a single large market.

The Vietnam Food Association (VFA) has decided to raise its rice export target from 5.2 million tonnes to 5.6 million tonnes, following an increase in rice contracts for the last months of the year.

Vietnamese rice producers and exporters should focus on quality and supplying products that are in demand to sustain the production and export of the grain and add value to the grain.

Vietnam will reform rice production to gain sustainable development in the production and export of rice, according to Vietnam’s Rice Market Development Strategy from 2017 to 2020.

Vietnam is working towards achieving higher levels of food security. The country has adopted various measures to boost agricultural product exports, filling gaps in the global food market.