Developing the export market for rice.

Rice is an essential commodity, consumed daily by 50% of the global population, and is crucial for ensuring food security in many countries around the world .

Opportunities and challenges intertwined.

In recent years, Vietnam has experienced remarkable growth and significant transformation in rice production and export; expanding markets and enhancing the position of Vietnamese rice in more than 180 countries and territories. In 2023, thanks to effectively utilizing signed FTAs, rice production and export set a record in terms of volume and productivity, reaching an export value of US$4.78 billion for the whole year, a 36.6% increase compared to the previous year. This is the highest level in many years for Vietnam's rice industry. To date, demanding markets such as Europe, the United States, South Korea, Australia, and some new markets in the Middle East are gradually showing a preference for high-quality rice originating from Vietnam.

Domestic rice production is facing both opportunities and challenges.

In 2024, despite the predicted global challenges, rice exports have shown optimistic signs from the very first months of the year. Specifically, in the first two months of 2024, rice exports reached US$708 million, an increase of 49.8%, indicating continued positive prospects in major markets. Furthermore, many forecasts predict that rice prices will continue to rise in 2024 due to tight supply. This is driven by export restrictions from India, coupled with unpredictable weather patterns, while rice demand continues to increase.

This presents both opportunities and challenges for Vietnam's rice production and export. At the SS Rice News Convention 2024, recently held in Da Nang, Mr. Nguyen Anh Son, Director of the Import-Export Department ( Ministry of Industry and Trade ), stated that the global rice trade is currently being affected by numerous factors impacting the production and export of rice in many countries. As one of the world's three largest rice exporters, Vietnam directly impacts its rice industry through changes in policies, supply and demand fluctuations, and price trends in rice-consuming countries.

Improving the quality of Vietnamese rice

In recent times, thanks to timely support policies from the Government, the Prime Minister , and various ministries and agencies, along with solutions to facilitate market access and goods circulation, the promotion of rice production and export has yielded positive results, contributing to the consumption of paddy and rice at favorable prices for farmers.

According to Mr. Nguyen Anh Son, to ensure the objectives and effectiveness in managing and operating rice exports, the Ministry of Industry and Trade is the lead agency, coordinating with relevant ministries, agencies, localities, and the Vietnam Food Association (VFA) to carry out the tasks assigned in Decree No. 107/2018/ND-CP dated August 15, 2018, on rice export business. Specifically, the Ministry of Industry and Trade is the lead agency responsible for reviewing, evaluating, and issuing certificates of eligibility for rice export business to Vietnamese traders, ensuring fair and efficient rice export activities. This will promote sustainable development and aim to improve the quality, value, and position of Vietnam's rice industry.

In implementing the Prime Minister's directives, the Ministry of Industry and Trade issued Directive No. 07/CT-BCT dated August 15, 2023, on strengthening market information, trade promotion, developing rice export markets, and stabilizing the domestic market in the current period. Currently, the Ministry of Industry and Trade is also developing and will soon issue a directive to implement the assigned tasks, serving the management of rice exports.

Previously, the Ministry of Industry and Trade, in coordination with the Ministry of Agriculture and Rural Development, state management agencies in localities with rice export businesses, the Vietnam Food Association (VFA), and traders, held annual meetings and conferences to jointly implement a set of solutions to ensure domestic food supply, stabilize prices, and facilitate and mitigate risks for rice export business activities throughout the year. At the end of 2023, at the International Rice Summit held in the Philippines, Vietnamese rice was honored as "World's Best Rice." This presented an opportunity for reputable Vietnamese brands to expand their export markets, increase product value, and enhance the brand image of Vietnamese rice.

To further enhance the position of the domestic rice industry, the Prime Minister has also approved the Project on 1 million hectares of high-quality rice in the Mekong Delta, aiming to establish one million hectares of specialized high-quality, low-emission rice cultivation areas linked to the reorganization of the production system along the value chain, applying sustainable farming processes to increase value, ensure sustainable development of the rice industry, improve production and business efficiency, increase income and living standards of rice farmers, and protect the environment. The specific target by 2030 is to reach 1 million hectares of specialized high-quality, low-emission rice cultivation areas. The amount of rice exported under high-quality, low-emission branded rice will account for over 20% of the total rice exports from the entire specialized rice-growing region.

Source link: https://thoibaonganhang.vn/phat-trien-thi-truong-lua-gao-xuat-khau-149675.html