Rice exports have recently set a new record, reaching their highest levels since 2009. (Photo: VietnamPlus) Hanoi (VNA) - With a total export turnover of 4.4 billion USD in the first 11 months, the rice export sector has surpassed the 3.7 billion USD mark set in 2011, establishing a new record since 2009. Notably, at the International Rice Summit held in the Philippines from November 27 - December 1, Vietnam was awarded the title of "World's Best Rice." This accolade provides a valuable opportunity for reputable Vietnamese brands to expand their export market and enhance the value of their products.
Honouring the Value of Vietnamese Rice
The International Rice Summit is an annual event organized by The Rice Trader, and winning the award for the "World's Best Rice" adds another layer of pride to Vietnam's rice industry. This accolade is a testament to the proactive approach to research, the selection of high-quality seed varieties, and the systematic commercialization of Vietnamese enterprises.
Nguyen Nhu Cuong, Director of the Department of Crop Production (Ministry of Agriculture and Rural Development), stated that according to the regulations of the competition, awards will be given to the national rice rather than a specific variety from 2022 onwards.
In 2023, rice from India, Vietnam, and Cambodia ranked in the top 3, with Vietnamese rice being awarded the "World's Best Rice" prize.
Vietnam wins the "World's Best Rice" award in 2023. (Photo: VietnamPlus) Expanding production of high-quality rice
Currently, the price of Vietnamese rice has risen to the highest level globally. According to data from the Vietnam Food Association (VFA) updated on December 1, Vietnam's 5% broken rice is being exported for 663 USD/tonne, higher than similar types from Thailand and Pakistan by 31 USD/tonne and 65 USD/tonne, respectively. Vietnam is also leading in the selling price of 25% broken rice at 643 USD/tonne, surpassing Thailand and Pakistan.
Deputy Minister of Agriculture and Rural Development Phung Duc Tien stated that in the first 11 months, Vietnam exported 7.75 million tonnes of rice, valued at 4.41 billion USD. This marks a 36.3% increase compared to the previous year. This year, Vietnam is expected to export over 8 million tonnes of rice.
Tien emphasized that the award helps Vietnam further affirm itself in both international and domestic markets. The country will continue to expand the production of high-quality rice and conduct research on new rice varieties with high productivity and good quality. This approach aims to enhance Vietnam's position in the global rice market, he noted.
The strategy to expand the production of high-quality rice in Vietnam is evident in the government's decision. On November 27, the Prime Minister signed Decision No. 1490/QD-TTg approving the project "Sustainable development of 1 million hectares of high-quality rice cultivation with low emissions linked to green growth in the Mekong Delta until 2030.”
Vietnam will continue to expand the production of high-quality rice. (Photo: VietnamPlus) Nguyen Nhu Cuong said the goal of the project is to establish one million hectares of specialized high-quality rice cultivation with low emissions, linked to the restructuring of the production system along the value chain. The project aims to apply sustainable farming practices to increase the value and sustainable development of the rice industry. It will also enhance production and business efficiency, improve the income and livelihoods of rice farmers, protect the environment, adapt to climate change, and reduce greenhouse gas emissions. This effort contributes to Vietnam's international commitments.
Currently, the Ministry of Agriculture and Rural Development has completed basic negotiations with the World Bank for a loan of approximately 350-400 million USD for the project. The state budget will contribute 100 million USD to implementing the project. There is a need to generate funding for technical support and financial assistance from carbon finance funds or global support funds such as the Sustainable Development of One Million Hectares of High-Quality Rice Cultivation with Low Emissions project./.
