Draft Decree Aims to Create a Transparent and Favorable Business Climate for Rice Exports in Vietnam

>> The price of rice exported by Vietnam maintains its upward trend

>> Exports of rice and fruits and vegetables up sharply

>>Vietnam rice export prices soar

Statistics show that by the end of October, Vietnam exported 7.1 million tonnes of rice worth around USD 3.97 billion, an increase of 17% in volume and 34.9% in value compared to 2022. The price of Vietnamese export rice increased by 15.3% year-on-year.

In the first nine months of 2023, Asia was Vietnam’s largest market, consuming 76% of the country’s total rice export volume. It was followed by Australia with 2.41%, Europe 1.6% and America 1.5%. In particular, the Philippines remained the largest importer of Vietnamese rice with nearly 2.5 million tonnes, accounting for 38.1% of Vietnam’s total rice export volume.

According to the Ministry of Industry and Trade, Vietnam has maintained the right direction in the structure and quality of rice exports, as outlined in the Rice Export Market Development Strategy until 2030, rice white accounting for the largest share (55.5% or 3.56 million tonnes), followed by fragrant rice (24% or 1.5 million tonnes) and glutinous rice (8.5% or 545,000 tonnes).

Vietnam has maintained the right direction in the structure and quality of rice exports.

Photo : VNA/CVN

Faced with complex developments in global food trade, including India’s ban on the export of non-basmati white rice, Russia’s withdrawal from the Black Sea Grains Initiative, climate change and phenomenon The boythe Ministry of Industry and Trade coordinated with the Ministry of Agriculture and Rural Development and the popular committees of rice-producing localities, the Vietnam Food Association as well as rice traders to implement implement various measures to regulate rice production and export activities in 2023, while ensuring the stability of the domestic rice market.

At the same time, the Ministry of Industry and Trade regularly inspected the rice trade and export activities of traders. It revoked the rice export certificate of 28 traders who did not export rice for 18 consecutive months after receiving the certificate, thereby helping to create a more open, transparent and fair trade environment, in accordance with the law .

VNA/CVN