Viet Nam seizes unprecedented rice export opportunities

Nguyen made the statement at a press conference held by the Ministry of Agriculture and Rural Development in Ha Noi on August 1. 

In recent days, Viet Nam's rice prices have increased very high following rice export bans by several countries. For instance, IR50404 rice price increased to VND6,500 per kg while OM 5451 rice to VND6,800 a kg and Dai fragrant rice to VND6,950 a kg.

As India bans the export of white rice to ward off looming domestic price spikes, Viet Nam will get the most of the opportunity for rice exports, he added. 

The Department planned to raise cultivation area in the Mekong Delta Region from 650,000 hectares to 700,000. 

The MARD also submitted a draft decree on boosting rice export in the current context. After the PM’s directive is given, ministries and localities will adopt technical and administrative solutions to remove difficulties for businesses and farmers to increase rice export.  

Viet Nam is home to 7.1 million hectares of rice cultivation. Rice output is expected to reach over 43 million tons.

In the first seven months, Viet Nam's rice exports reached 4.84 million tons, up 29.6 percent, raking in US$2.58 billion.

In 2022, Viet Nam shipped about 7.1 million tons worth US$3.46 billion, up 13.8 percent in volume and 5.1 percent in turnover against 2021./.