Vietnam exported 1.7 million tons of rice in the first quarter of 2023 worth more than 900 million dollars, representing an increase of 19% in quantity and 30% in value compared to the same period in 2022. .
These latest figures were released in a latest report from the General Customs Department.
According to the Ministry of Industry and Trade (MoIT), Vietnamese rice has seen some success in improving quality and demand in recent years.
Most of the exported rice came from the Mekong Delta, while the rest of the country’s rice production centers mainly supplied the domestic market.
Le Thanh Tung, deputy director of the Vegetable Crops Department of the Ministry of Agriculture and Rural Development (MARD), said that this year’s rice production in the Mekong Delta alone will reach 24 million tons. Consumption in the Delta and in Ho Chi Minh City, Vietnam’s most populous city, will remain around 11 million tons, leaving 13 million for export.
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Of these, superior quality rice for export accounts for 3 million tons, special rice for 2.1 million tons, and normal rice for 1 million tons.
Vietnamese rice is likely to remain in demand in the second quarter of the year as demand has increased in major markets including the Philippines, China and Africa, according to the Vietnam Food Association (VFA).
Nguyen Ngọc Nam, President of the VFA, said that Vietnamese rice has fetched good prices on the international market despite the gloomy outlook for the global economy, as countries look to stock up on food for the uncertain times ahead.
In addition, the main free trade agreements, including the Free Trade Agreement between the European Union and Vietnam (ALCVE), have reduced the tariffs on Vietnamese rice to 175 euros per tonne, which is an advantage for Vietnamese first-class rice. quality in European markets.
As demand has skyrocketed, exporters have tried to buy additional quantities from farmers to maximize efficiency and profit. However, many have expressed concern about a lack of capital.
Phan Van Chinh, Director of the MoIT Foreign Trade Agency, stated that the ministry has been working closely with exporters to find solutions that minimize logistics costs and deal with import and export protocols in international markets.
superior quality rice for export represents 3 million tons, special rice 2.1 million tons and normal rice 1 million tons.
On the other hand, the Ministry said that it will closely monitor the amount of rice that is exported to ensure the country’s food security.
Earlier, the State Bank of Vietnam (SBV) had ordered commercial banks to review and streamline the process of lending to rice traders to help them access additional sources of capital.
Article republished from the Vietnamese state media VNA in the framework of an agreement between both parties to share content. Link to the original article: https://en.vietnamplus.vn/vietnam-france-boast-huge-cooperation-opportunities-business-forum/251598.vnp
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