Rice exports show positive signs

09:58 | 28/09/2016 Trade Follow Ven.vn on

(VEN) - In early September, Vietnam won a bid to export 150,000 tonnes of rice to the Philippines. This biggest official contract since the beginning of this year is expected to brighten the gloomy rice export picture.

Vietnam gives priority to producing high-quality rice

The Ministry of Industry and Trade has drafted a decision approving the strategy to develop export markets for Vietnamese rice in the 2016-2020 period with an orientation towards 2030 and sent it to other ministries and sectors concerned to collect their opinions. These facts promise positive signs for rice exports in the coming time.

Being a key agricultural product, Vietnamese rice exports have faced numerous difficulties. Vietnam exported 1.59 million tonnes of rice in the first quarter of this year, up 41.6 percent compared with the same period last year, but rice exports have decreased in terms of both volume and value since May. Statistics from the Ministry of Agriculture and Rural Development show that Vietnam exported an estimated 3.37 million tonnes of rice worth US$1.51 billion this August, down 16.6 percent in volume and 13.1 percent in value compared with August 2015. These decreases in rice exports were attributed to the absence of big contracts.

Creating advantages for high-quality rice

The draft decision approving the strategy to develop export markets for Vietnamese rice in the 2016-2020 region indicates that Vietnamese rice exports will be restructured to increase the export of high-quality rice and rice products with nationally recognized brands.

In the coming time Vietnam will concentrate on producing high-quality white rice (5-10 percent broken) in order to reduce the export of over 15 percent broken rice and increase the export of fragrant, parboiled, and Japonica rice. At the same time, rice products will be persified for export to high-grade markets such as Europe and North America. Rice and related products for export will be sourced from specialized production areas where quality rice varieties are cultivated.

The Ministry of Industry and Trade has provided guidance for businesses to increase rice exports to markets which bring high added value and reduce exports to market which bring low profits.

The draft decision aims to stabilize markets to ensure that the export value of Vietnamese rice will reach US$3 billion next year and US$3.5 billion by 2020, the annual export volume will be 6-7 million tonnes, and ensure profits for farmers. It is expected to reduce rice export difficulties in the coming time.

Phuong Lan

ven.vn

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Rice exports show positive signs

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