Today: 16/04/2021 08:57:33 (GMT+7)

Opportune time for Vietnam to boost rice exports

Export prices of Vietnam’s 5% broken rice have climbed to US$488-492 per tonne, up US$25 from a month ago and marking the highest levels for years.

Purchasing prices in the Mekong Delta also rose significantly against previous crops, up to VND6,200 per kilogram, generating good profits for rice farmers.

Opportune time, Vietnam, boost rice exports, Covid-19 pandemic, good profits,  rice farmers, Free Trade Agreement

Opportune time for Vietnam to boost rice exports.

According to the Vietnam Food Association, Vietnamese rice price rises were partly thanks to many countries increasing their reserves to cope with the coronavirus pandemic. In addition, with Vietnam’s ST25 rice named the world’s best rice, global consumers have paid more attention to Vietnamese rice in general, helping to boost both export volumes and prices.

In other good news, Vietnamese rice has begun to penetrate high-quality markets with Vinaseed recently announcing it will ship 50 tonnes of Japonica rice to Australia. The company already exported VJ Pearl Rice and RVT fragrant rice to the Netherlands and the Czech Republic in July at a price of US$1,040 per tonnes.

Such varieties have received the FSSC 22000 certificate on processing, packaging and shipping from Bureau Veritas, a world-leading British certification company. This is one of the comprehensive food safety standards necessary to penetrate demanding markets such as the EU and the US.

Besides Vinaseed, many Vietnamese rice exporters are also working to meet the stringent requirements of the EU, especially as the EU-Vietnam Free Trade Agreement has already come into force, under which the EU is giving Vietnam an annual quota of 80,000 tonnes of rice with zero tariffs.

This is a special opportunity for Vietnamese rice exporters to build and promote their image as well as outlining new strategies for production and export by focusing on speciality rice varieties designed to target discerning markets with higher prices and also reduce reliance on traditional markets, which mainly purchase lower-quality rice at lower prices.

It is a fact that Vietnamese rice accounts for small market share in European supermarkets while the rice of Thailand and Cambodia dominates. In order to expand their market and raise the value of rice, Vietnamese enterprises, therefore, need to change their mindset from creating safe growing regions to forging closer links with farmers in order to achieve high level domestic and international certificates regarding agricultural practices and food safety.

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Rice prices in Mekong Delta on the increase
Rice prices in the Mekong Delta have been on an increasing trend over recent days.
Vietnam sees hike in rice exports to Africa
Vietnam’s exports of rice to the African market increased sharply in the first half of 2020 and are expected to keep rising over the following months and even into next year, according to Vietnamese Trade Counsellor to Algeria Hoang Duc Nhuan, who is also in charge of trade affairs in Mali, Niger, Senegal and Gambia.
Bac Lieu expands cultivation of world’s best rice varieties
The Mekong Delta province of Bac Lieu has decided to expand the cultivation of ST 24 and ST 25, two local rice varieties that rank among the world’s best, this year.
Hiep Hoa builds high - quality rice cultivation area
(BGO) - According to Division of Agriculture and Rural Development of Hiep Hoa district (Bac Giang province), after 5 years implementing the Resolution No 130-NQ/TU of the provincial Standing Party Committee dated 16 August 2016 on accelerating application of high technologies in farm production in 2016-2020 period, Hiep Hoa district has fulfilled land consolidation and established 33 large fields with total 2,500 hectares of high-quality rice growing area, hitting 100 percent of the set target.

Source: NDO

Opportune time, Vietnam, boost rice exports, Covid-19 pandemic, good profits, rice farmers, Free Trade Agreement
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