Vietnam's rice export volume can reach 7 million tons

According to the Vietnam Grain Association (VFA), Vietnam's export price of 5% broken rice is US$428/mt and 25% broken rice is USD408/mt. Compared with before India's rice export restriction policy, Vietnam's rice export price increased by an average of 30 US dollars / ton.

According to experts, in the short term, Vietnam's rice export prices will remain high amid economic and political uncertainties increasing food demand. Therefore, exporters need to seize the opportunity to expand and enter new markets. If Vietnam's rice export output remains above 400,000 tons a month in the last two months of this year, Vietnam's rice export volume can reach 680-7 million tons this year.

Regarding the market, Mr. Lai Qinghe said that enterprises need to pay special attention to the Chinese market. Because this is a huge market with potential for Vietnam's agricultural exports. However, the market of the world's most populous country is undergoing major changes in import requirements ranging from phytosanitary, packaging regulations, labeling, traceability to growing area codes. At present, 22 Vietnamese enterprises are allowed to export rice to China. Vietnam is proposing to China to add more manufacturers approved to export white, fragrant and glutinous rice to the Chinese market.

Le Thanh Hoa, deputy director of the Agricultural Products Processing and Market Development Bureau of Vietnam's Ministry of Agriculture and Rural Development, said that in the context of high inflation and economic instability in many countries, Vietnam's rice exports are expected to reach the 7 million ton mark this year.

Le Thanh, Deputy Director General of the Agricultural Products Processing and Market Development Bureau of the Ministry of Agriculture and Rural Development of Vietnam, suggested that in addition to China, the EU and the UK are also two important markets with great potential for Vietnamese rice exports. In order to take advantage of free trade agreements and export quotas, Vietnamese rice exporters need to maintain close contact with purchasing and processing units to meet the certification and technical standards of the import market.