Increasing rice exports, Vietnam supports the world in ensuring food security

Countries increase import demand as global rice production decreases

According to rice traders, Vietnam could export about 8 million tons of rice in 2023, setting a new record in the past 15 years. Vietnam's rice export opportunities will continue in 2024.

According to the Ministry of Agriculture and Rural Development (MARD), the Philippines is Vietnam's largest rice export market, currently accounting for about 35% of Vietnam's rice export market share; followed by Indonesia, China and African countries.

The Indonesian National Logistics Agency (Bulog) has just issued a tender for the supply of up to 543,000 tonnes of 5% broken long grain white rice. The expected suppliers are Thailand, Vietnam, Myanmar, Pakistan and Cambodia. The deadline for delivery is January 30, 2024.

Vietnamese rice is favored by world consumers because of its delicious taste and guaranteed quality. Photo: Vu Long

As of November 26, the country had imported a total of 3.3 million tons of rice out of its 3.8 million-ton import quota for the year. Rice imports in 2024 will remain high, with a planned quota of at least 2 million tons.

Agriculture and food officials said the dry weather has severely affected agricultural production, especially rice, in Indonesia.

The rice cultivation area from September to November 2023 decreased by 53.61% compared to last year, reaching a total of 840,298 hectares. Meanwhile, due to climate change, the upcoming rice harvest in 2024 is expected to be about 2 months later than the average of many years, that is, it will take place in May-June, instead of February-March as before. This shows that Indonesia's demand for rice imports in the coming time is very large.

Mr. Nguyen Quang Hoa - CEO of Duong Vu Rice said that many importers from Malaysia, Philippines... have also come to Vietnam to discuss rice imports.

"Vietnam's rice export opportunities are huge, and may last into next year and beyond. However, supply is very limited," said Mr. Nguyen Quang Hoa.

At the workshop "Global rice market and future trends", Mr. Le Thanh Hoa, Deputy Director of the Department of Quality - Processing and Market Development (Ministry of Agriculture and Rural Development) said that in the coming time, global rice output could reach a record of nearly 520 million tons. However, consumption is forecast to exceed production, possibly at 525 million tons. Thus, "supply" is lower than "demand" which could cause countries to increase rice imports to ensure food security for each country.

Vietnam may increase rice acreage to boost supply

Leading expert on the rice industry - Professor Vo Tong Xuan - said: Vietnam can increase the supply of rice if it expands the area and increases the number of rice crops from the current 3 to 4. This can be done because Vietnam already has high-yield, short-term, good-quality rice varieties.

“If in 2024, rice supply is still less than demand, Vietnam can increase cultivation to 4 crops a year with many high-quality rice varieties, taking advantage of export opportunities.

Rice from Vietnam not only ensures food security for Vietnam but is also enough to share with many countries around the world" - Professor, Dr. Vo Tong Xuan affirmed.

According to Deputy Minister of Agriculture and Rural Development Tran Thanh Nam, to welcome the open and long-term export opportunities of the rice industry, the agricultural sector is focusing on implementing many projects to restructure the agricultural sector to improve the productivity and quality of the agricultural sector in general and the rice sector in particular, including the project "Piloting the construction of a standard agricultural and forestry raw material area for domestic consumption and export in the period 2022 - 2025"; "Sustainably developing 1 million hectares of high-quality rice cultivation associated with green growth in the Mekong Delta".

The agriculture and rural development sector is also promoting restructuring of the entire sector, aiming at increasing value and sustainable development, especially the rice sector.

Source