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Impressive figures for Vietnam's rice export industry

28/01/2021

In 2020, Vietnam's rice industry is a "bright spot" with export turnover reaching USD 3.07 billion. The price of Vietnamese rice is always higher than that of Thailand, which has confirmed the brand value of Vietnamese rice in export markets. Many rice shipments exported to the European market with prices over USD 1,000/ton which is an impressive number for Vietnam's rice export industry in the past year.

Regarding sources of high quality rice seed, Vietnam currently has many varieties, creating competitiveness to meet the preferences of importers and Vietnamese rice is dominant in the middle and high-end markets compared with other countries in the region.

According to Mr. Nguyen Quoc Toan, Director of Agro-Product Processing and Market Development Department - Ministry of Agriculture and Rural Development, Vietnam has continuously promoted the extensive and comprehensive international economic integration: Vietnam has signed and implemented 15 Free Trade Agreements (FTAs) and 2 Agreements in negotiation process. In particular, the Agreements such as Vietnam with the European Union (EVFTA), the Regional Comprehensive Economic Partnership (RCEP) are considered as new generation FTAs, which is an opportunity to further affirm Vietnam's rice brand.

To affirm Vietnam's rice brand, enterprises need to upgrade their machinery system to increase the value of rice grains, Toan said. At the same time, it is necessary to have a close connection between people and businesses to create quality products.

In recent years, Vietnamese rice has affirmed its brand and successfully conquered many fastidious markets. However, in order to develop the rice industry in a sustainable manner, bringing high value, affirming the brand in the market, attention should be paid to organic agricultural products, clean agricultural products, and environmental friendly factors.

Mr. Nguyen Trung Kien, Vice President and General Secretary of the Vietnam Food Association (VFA) also informed that, in 2021, the Food Association and the businesses of the Food Association will focus on high quality products that have been achieving good results over the years; develop market of high quality rice, ensuring food safety to enter fastidious markets such as Europe, Australia, America, Canada, etc.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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