Vietnamese rice successfully conquers 150 markets and eyes more

Vietnamese rice has been exported to more than 150 nations and territories around the world, with its market having been expanded to the American and Middle East countries.

Viet Nam’s annual rice export volume accounts for about 15% of the world’s total figure. In addition to the traditional markets, the country’s high-quality white rice and fragrant rice products have initially penetrated into the fastidious markets, helping the Vietnamese rice trademark to step by step set its “foothold” widespread across the world.

2018 marked a significant milestone for Viet Nam’s rice production and export industry with a 20% increase in export revenues and a growth in terms of both value and output. Viet Nam’s rice exports maintained a positive trend right from the beginning of the year thanks to the signal of importing again from many markets, following both centralized contracts and commercial contracts.

Vietnamese rice initially penetrated into the markets requiring high quality, such as the Republic of Korea, Japan, Hong Kong (China), the United States and the European Union, and constantly maintained its position as the world’s third largest rice exporter, behind India and Thailand. The export prices of rice remaining high contributed to the consumption of commodity rice at a high price and benefiting farmers. Meanwhile, the exports of high-quality rice were strengthened, and the proportion of medium and low quality rice was gradually reduced.

In addition, the new policy on rice export management through the Government’s promulgation of Decree No. 107 dated August 15, 2018 on rice export business has helped the rice exports gradually systematized. Institutions and policies on rice exports have step by step moved towards liberalization, accordance with international regulations, and elimination of barriers that hinder traders in rice export business.

Institutionally, 2018 marks a special milestone. This is the first year of implementing the Prime Minister’s Decision No. 942 on rice export strategy. This is also the year with breakthrough changes in mechanisms when Decree No. 107 replaced Decree No. 109, thereby satisfying the expectations of not only enterprises but also localities, especially those in the Mekong Delta region, minister of Industry and Trade Tran Tuan Anh said.

Viet Nam holds an increasingly important role in co-ordinating with rice importers, exporters and partners to effectively participate in the globe’s rice product chain and food security.

The country’s rice export market development strategy for the 2017-20 period with a vision to 2030 focuses on developing export markets, helping raise farmers’ income, ensuring domestic food security and social welfare, and protecting the eco-environment. The strategy also targets to build Vietnamese rice trademark and intensify connectivity through a value chain from production to consumption and export, Anh added.