| New path of Vietnamese rice Raising the position of Vietnamese rice |
On the afternoon of March 6, the Global Rice Conference - SS Rice News Convention 2024 took place in Da Nang city. This is an important event held for the first time in Vietnam for 2 days (March 6 - March 7, 2024) to promote the global rice market network.
The event attracted the participation of more than 400 importers, exporters and suppliers of ancillary services in the rice industry, along with leading experts and researchers in the industry from 30 countries around the world.
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| The SS Rice News Convention 2024 will be held in Vietnam for the first time. |
Rice production and export set record
Speaking at the Conference, Mr. Nguyen Anh Son - Director of the Import-Export Department (Ministry of Industry and Trade) said that currently, the global rice trade situation is being affected by many factors that have affected the rice production and export situation of many countries.
Vietnam is one of the three largest rice exporting countries in the world, accounting for about 15% of total global rice exports, so all policy changes, fluctuations in supply and demand and price trends of rice consuming countries in the world directly affect the Vietnamese rice industry.
“In recent times, with timely support policies from the Government, the Prime Minister and ministries, sectors, and solutions to open up the market and circulation of goods, the promotion of production and export of rice has recorded some positive results, contributing to the consumption of rice and commodity rice at prices beneficial to farmers. Vietnam's state management agencies have also actively implemented solutions to develop agricultural production, seek markets, support and propose solutions on capital, investment in science and technology, and infrastructure to improve productivity, output and quality of rice for domestic consumption and export ,” Mr. Son informed.
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| Mr. Nguyen Anh Son - Director of Import and Export Department |
According to Director of the Import-Export Department Nguyen Anh Son, to ensure the goals and effectiveness in the management and operation of rice exports, the Ministry of Industry and Trade is currently the leading agency, coordinating with ministries, branches, relevant agencies, localities and the Vietnam Food Association (VFA) to perform the tasks assigned in Decree No. 107/2018/ND-CP dated August 15, 2018 on rice export business.
In particular, the Ministry of Industry and Trade is the agency in charge of reviewing, appraising, and granting Certificates of Eligibility for Rice Export Business to Vietnamese traders, in order to ensure that rice export activities take place fairly and effectively, promote sustainable development, and aim to improve the quality, value, and position of the industry.
To implement the Prime Minister's direction, in 2023, 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. In 2024, to implement Directive No. 10/CT-BCT dated March 2, 2024, the Ministry of Industry and Trade is developing and will soon issue a Directive to implement assigned tasks, serving the management of rice exports.
“ Thanks to that, the Vietnamese rice industry has made remarkable growth and strong transformations in both production and export. The growth in output, product quality and improved production processes have helped expand the market, enhancing the position of Vietnamese rice in more than 180 countries and territories. Fastidious markets such as Europe, the United States, South Korea, Australia and some new markets in the Middle East are also tending to favor high-quality rice from Vietnam ,” said Mr. Son, adding that in 2023, thanks to making good use of signed FTAs and timely support from the Government, ministries and branches, rice production and export set a record in output and productivity, reaching the finish line with an annual export turnover of 4.78 billion USD, an increase of 36.6% over the previous year, the highest export level in many years of the Vietnamese rice industry.
In 2024, in the context that many experts predict that the world situation will still have many difficulties, rice exports have shown positive signs right from the first months of the year. Rice export turnover in January reached 362 million USD, up 7% over the same period last year. In addition, according to many forecasts, rice prices will increase in 2024 due to tight supply. The rice market is expected to continue to tighten at the beginning of the year due to India's ongoing export restrictions.
The onset of El Nino and its potential impact on key rice growing areas has added to supply concerns. Thus, opportunities are huge for the industry and Vietnamese businesses, but opportunities always go hand in hand with challenges.
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| Delegates attending the conference. |
Finding solutions to develop the rice market in 2024
Director of the Import-Export Department Nguyen Anh Son informed that market information, policy updates, forecasts and orientations for rice export management; along with trade promotion activities, trade connection, and export promotion of the industry are always focused on by the Ministry of Industry and Trade.
Every year, the Ministry of Industry and Trade regularly presides over and coordinates with the Ministry of Agriculture and Rural Development, state management agencies in localities with rice export traders, VFA and traders to organize meetings and conferences to jointly agree on drastic implementation of a group of solutions to ensure supply, stabilize domestic food prices and facilitate and limit risks for rice export business activities in each stage of the year.
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| Delegates visited the exhibition area displaying products and services in the rice trade chain from rice-producing countries. |
“Today’s conference is very practical and necessary, demonstrating the initiative of the rice business community in research activities, closely following the market, and organizing effective and sustainable business. This is not only a place for us to access information, but also an opportunity for us to discuss, make practical suggestions and recommendations based on the export promotion needs of businesses; from which to propose specific solutions and plans to support the development of the rice market in 2024 ,” Mr. Son acknowledged.
At the conference, delegates focused on analyzing and discussing market trends, updating India’s rice export policy in the context of the country’s export restrictions, as well as exploring alternative global rice supply sources, especially from Southeast Asia. In addition, issues related to the shipping market, weather and political impacts on the rice industry were also discussed in depth.
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| Delegates discussed market trends, updates on rice export policies... |
Delegates also shared useful information and proposed practical solutions in market development to support rice enterprises in exploiting diverse export markets as well as building and enhancing the brand position of the Vietnamese rice industry.
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