Vietnam to earn over 4 billion USD from rice exports this year: MARD
The Ministry of Agriculture and Rural Development (MARD) has forecast that in 2023, Vietnam's rice exports will reach about 7.2 million tonnes, bringing home more than 4 billion USD.
Hanoi (VNA) ♔– The Ministry of Agricultureand Rural Development (MARD) has forecast that in 2023, Vietnam's riceexports will reach about 7.2 million tonnes, bringing home more than 4 billionUSD.
MARD Deputy Minister Tran Thanh Nam said that theworld’s economic difficulties and political instability cause significantdifficulties for the export of goods in general and agricultural products inparticular. However, Vietnam’s rice exports still achieved goodresults and became a bright spot in the country’s agricultural total in thefirst half of this year.
He said that the current situation of rice exportsin the world and market development in the first six months of the year,especially as India recently banned exports of ordinary rice brings anopportunity for Vietnamese rice to make a breakthrough at the end of the year.
⛄ According to the Vietnam Food Association, in July,Vietnam’s rice exports continued to post significant growth.
In the first seven months of this year, the countryexported more than 4.48 million tonnes of rice, getting a turnover of nearly2.4 billion USD, up more than 17% in volume and 28% in value over the sameperiod in 2022. Rice export turnover increased sharply because of asharp increase in Vietnamese rice prices from nearly 490 USD per tonne lastyear to more than 530 USD per tonne now. According to the association, this year, riceexports have the most favourable conditions when domestic production growspositively as most of the rice-producing regions have converted to high-qualityand high-value varieties. Moreover, in the world market, the demand for ricehas increased sharply. According to the General Statistics Office, in 2022,Vietnam's rice exports reached 7.1 million tonnes with a value of 3.46 billionUSD, an increase of 13.8% in volume and 5.1% in turnovercompared to the previous year./.
The EU - Vietnam Free Trade Agreement (EVFTA) has opened up unprecedentedly big opportunities for Vietnamese rice export. Thanks to preferential tariffs, the shipments of fragrant and high-quality rice to the EU have reaped encouraging results.
The chance has come and doesn’t wait any, so it is necessary seize it to step up rice export, Minister of Agriculture and Rural Development Le Minh Hoan told this ministry’s meeting on July 6.
Although Vietnamese rice has been exported to 150 countries and territories, markets for the product are mainly Asian countries and thus need to be diversified, according to experts.
Despite a bright outlook predicted for rice exports in the second half of 2023, the rice sector still needs more support to shift from quantity to quality to seize global market opportunities.
Thai rice exporters are concerned about India's announcement that it will ban the export of non-basmati white rice with immediate effect, saying the move could potentially impact Thailand's rice industry, leading to a possible 10% increase in domestic prices.
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Illustrative photo (Photo: nongnghiep.vn) 
