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During the three-day conference, participants focus on compare notes on the short term expectation for the domestic and international rice trade while domestic and foreign businesses seek cooperation opportunities in rice trading and production.
With the participation of business heads and decision-makers, with a mix of private and public sectors, the conference presents an opportunity for Vietnam to promote its rice industry and exports and showcase the achievements in improving the quality and added values of Vietnamese rice products.
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It also helps Vietnam raise the image of its rice as the country focuses on building an international brand and improving the quality of rice while implementing a rice export market development strategy and a new legal framework for rice export activities.
According to the Ministry of Industry and Trade, last year the country exported about 5.82 million tonnes of rice, valued at US$2.63 billion, up 22.% in volume and 22% in value over the same period in 2016.
In 2018, Vietnam shipped about 4.73 million tonnes of rice abroad in the first nine months, earning US$2.38 billion, up 9.3% in volume year-on-year.
To date, Vietnamese rice exports to about 150 countries and territories around the world, of which Asia accounts for 68.41% of total rice exports, followed by Africa accounts for 14.93 % and American market accounted for 6.54%, Oceania accounted for 5%.
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| The conference drew the participation of hundreds of delegates. |
The rice industry has been asked to reorganise production and begin focusing on improving quality. Under the 2017-2020 strategy for rice export market development, Vietnam aims to export from 4.5 to 5 million tonnes of rice per year, earning an average turnover of US$2.2-2.3 billion a year (with glutinous rice accounting for 20%).
During 2021-2030, the rice export volume will be reduced to about 4 million tonnes per year but the annual revenue is expected to increase to US$2.3-2.5 billion, focusing on high value rice (glutinous rice accounting for 25%).
The strategy clearly states that by 2020, the Asian market accounts for 60% of Vietnam’s total rice export turnover, while the African market accounts for 22%, the American market 8%, and the European market 5%.
The ambitious goal requires the rice sector to do a lot of work targeting to boost production in the direction of applying high technologies and raising productivity and quality, along with building rice export brand and promoting trade and product introduction activities.
