Rice exports: Seizing market opportunities

Mr. Phung Duc Tien, Deputy Minister of Agriculture and Rural Development, had a brief exchange with reporters regarding this issue.

Recently, India, Russia, and the UAE have imposed bans on rice exports. Many believe that Vietnamese rice has many market opportunities. What are your comments on this?

In 2022, we exported 7.13 million tons of rice worth $3.49 billion. In the first seven months of this year, we exported 4.38 million tons worth $2.68 billion. It is projected that this year we will produce between 43.2 and 43.4 million tons, an increase of 1.8-2% compared to 2022.

Vietnamese rice has many market opportunities.

The export bans imposed on rice by India, Russia, and the UAE present an opportunity for Vietnamese rice and rice farmers, especially in the Mekong Delta. The Ministry of Agriculture and Rural Development has also submitted a directive to the Prime Minister on strengthening rice export efforts in the new situation.

However, I find many opinions from businesses very reasonable, namely that when facing difficulties and sales are slow, the business community must share the burden to ensure the sustainable development of the rice market.

Our rice prices are now higher than those of Thailand and India, which is a significant advantage. This year, rice exports are expected to exceed 7 million tons, valued at $4.1 billion.

Over the years, we have ensured domestic food security, contributing to regional and global food security. Given the current market situation, we are simultaneously seizing opportunities, ensuring growth, enhancing value, and sharing with the regional and international community.

What basis do we have to seize market opportunities from now until the end of the year, sir?

Currently, 85% of our rice varieties are new varieties, 89% are high-quality rice, and we are developing a sustainable development plan for 1 million hectares of high-quality specialized rice cultivation linked to green growth in the Mekong Delta.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien

Our rice crop only lasts three months. Therefore, with 85% new rice varieties, along with cultivation processes tailored to each region, improved field protection techniques, and the expansion of cultivated areas and the monitoring, distribution, and management of pesticides, future crops will be guaranteed to be successful. This will contribute to ensuring food security for nearly 100 million people domestically, as well as for processing, storage, seed production, and export.

How will coordination among ministries, departments, localities, and businesses be carried out to seize this market opportunity, sir?

Rice exports, in addition to production which is the responsibility of the Ministry of Agriculture and Rural Development and local authorities, also involve the roles of other ministries and sectors.

Therefore, the Ministry of Agriculture and Rural Development has just submitted a document to the Prime Minister requesting the issuance of a Directive on strengthening rice export activities in the new situation.

The Directive will outline the solutions and responsibilities of each party. Once the Directive is issued, we will communicate it to relevant agencies and localities, as well as the responsibilities of ministries and sectors, so that they can coordinate closely with each other.

Thank you, sir!

Currently, localities are focusing on accelerating the planting of the main rice crop and the autumn-winter rice crop, as well as caring for and harvesting the summer-autumn rice crop. All crops are developing well. As of mid-July, the whole country had planted 6,175.3 thousand hectares of rice, a decrease of 0.8% compared to the same period last year; 3,677.4 thousand hectares have been harvested, also a decrease of 0.8%, with an average yield of 65.7 quintals/hectare, an increase of 0.8 quintals/hectare, and a harvested production of over 24.1 million tons, an increase of 0.4% compared to the same period last year.

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