Illustrative photo. (Source: VNA)The country exported 1.1 million tonnes of rice for 606 million USD inthe first quarter of the year, down 30.4 percent and 17.4 percent,respectively, against the same period last year, according to the Ministry ofAgriculture and Rural Development.
The two largest buyers of Vietnamese rice in the reviewed periodremained China and the Philippines.
Despite the fall in volume, rice export prices jumped from January to Marchon account of high demand for food reserves around the world, said Tran QuocToan, Deputy Director of the Ministry of Industry and Trade (MoIT)’s Agency ofForeign Trade.
By the end of March, Vietnam’s rice price remained at a high of 547 USDper tonne, up 18.6 percent, or 86 USD, compared to a year earlier.
Rice exporters have been increasingly focusing on improving quality andtraceability to meet the strict standards of markets such as the EU, theRepublic of Korea (RoK), and the US, Toan said.
Vietnam has entered into various FTAs with strategic countries andregions, such as the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and, morerecently, the Regional Comprehensive Economic Partnership (RCEP) and theUK-Vietnam Free Trade Agreement (UKVFTA).
He said that in order to utilise FTAs and boost the global market shareof Vietnamese rice at more competitive prices, the ministry will continue tocoordinate with ministries, branches, and the Vietnam Food Association to helpbusinesses effectively implement deals and make the most of markets such as theRoK and the EU.
The MoIT will adopt mechanisms and policies to remove technical andtrade barriers, internalise international commitments, customs procedures,logistics, and credit, and focus on branding to create a foundation for riceexporters to exploit foreign markets, Toan said.
He also urged rice exporters and farmers to be more active in improving productcompetitiveness in terms of quality and price as well as building and protectingVietnamese trademarks, so as to diversify markets and promote sustainableexports./.
VNA
