Rice sacks are loaded onto a vessel for delivery at Saigon Port in Ho Chi Minh City. (Photo: VNA) Le Thanh Hoa, Deputy Director of the ministry’s Department ofQuality, Processing and Market Development, said the rice sector’s outlook isassessed as relatively positive for the second half of 2023 since many otherrice producers in Asia are facing risks of declined output due to El Ninoimpacts, which will boost rice demand and prices in the global market.
Vietnam exported 4.27 million tonnes of rice worth 2.3billion USD in the first six months, rising 22.2% in volume and 34.7% in valueyear on year. Export prices averaged 539 USD per tonne, up 10.2% from a yearearlier, data from the department show.
Bui Thi Thanh Tam, a representative of the VietnamFood Association, said the Philippines is the biggest importer of Vietnameserice. Shipments to China have also posted good growth since its reopening afterthe COVID-19 pandemic. Meanwhile, Indonesia has begun re-importing rice, soexports to this market have also shot up by up to 1,498%.
Rice export is benefiting from favourableconditions as major markets are still importing strongly such as China, the Philippines,and Malaysia, she noted, adding that this will make export prices increase, orat least not decline.
Rice demand is predicted to grow slightly as aresult of limited supplies of other types of grain food. High-quality rice ofVietnam is currently a favourite of consumers in such demanding markets as Europe,the Republic of Korea and Australia or some new destinations like those in theMiddle East, which is also an opportunity for boosting the sale of high-qualityrice.
The meeting of the Ministry of Agriculture and Rural Development on July 6 (Photo: VNA) The agriculture ministry said Vietnam plans to cultivate 7.1million ha of rice in 2023, with average productivity estimated at 6.07 tonnes ofunmilled grain per ha. Total output is expected at 43.11 million tonnes, up400,000 tonnes from 2022.
About 3.3 million ha with 21.8 million tonnes of unmilled ricehas been harvested so far. The remaining 3.75 million ha with 21 million tonneswill be harvested from now to January 2024.
Tam held that demand is growing even further as the GeneralDepartment of State Reserves has opened rice stockpile bids. Therefore, asidefrom working to reach this year’s export targets, it is also important to guaranteenational food security and the stockpile for early 2024.
Given thesoaring global demand and difficulties facing businesses in production and qualityimprovement, Minister Hoan said the ministry will work with the Ministry ofIndustry and Trade as well as other sectors to soon tackle hindrances and help firmsseize market opportunities.
They will also devise mechanisms and policies toassist the sector to improve quality and value and diversity export markets asin conformity with the strategy for developing rice export markets by 2030, headded./.
VNA
