If India lifts the ban on rice exports, how will Vietnamese rice be affected?

The news that India is considering lifting the white rice export ban is of particular interest to the Ministry of Agriculture and Rural Development and Vietnamese rice exporting enterprises.

Mr. Nguyen Nhu Cuong informed about the impact if India lifts the rice export restriction.

At the regular press conference for the first 6 months of the year of the Ministry of Agriculture and Rural Development held on the afternoon of June 28, Mr. Nguyen Nhu Cuong, Director of the Department of Crop Production, informed about the possible impacts on Vietnam's rice market when India lifts the ban on white rice exports.

Mr. Nguyen Nhu Cuong said that India is the world's largest rice exporter, accounting for about 40% of output. Therefore, all moves and decisions related to rice exports of this country have an impact on all rice exporting countries, including Vietnam and Thailand, which are major rice exporting countries.

The first is the impact on the demand for imported rice output of Vietnam's partners. When partners have more options from Indian suppliers, Vietnam's rice will face competition, and output may decrease.

The second is the impact on rice prices. However, according to the current situation, the world's demand for rice is still high and the output is not too surplus, so if India lifts the export restriction on white rice, it will have little impact on Vietnam's exports.

According to the Ministry of Agriculture and Rural Development, in the first 6 months of the year, agricultural, forestry and fishery exports reached 29.2 billion USD, an increase of 19% over the same period in 2023. Of which, rice and 6 other products and product groups including: rubber, coffee, cashew nuts, vegetables, shrimp, and wood products were in the group reaching over 1 billion USD. In particular, rice and cashew nuts are two products that increased both export volume and value.

Specifically, rice exports in the first 6 months of the year reached 4.68 million tons, worth 2.98 billion USD, up 32% over the same period in 2023. Cashew exports reached 350,000 tons, worth 1.92 billion USD, up 17.4% over the same period in 2023.

Coffee exports alone decreased in volume, reaching only 902,000 tons, down 10.5%, but thanks to a 50.4% increase in price, the export value reached 3.22 billion USD, up 34.6% over the same period last year.

Source: https://thanhnien.vn/neu-an-do-go-lenh-cam-xuat-khau-gao-lua-gao-viet-nam-chiu-tac-dong-ra-sao-185240629110958619.htm