Increasing Vietnamese rice market share in Africa with fragrant rice

Published 2024년 11월 11일

Tridge summary

Vietnam's rice exports to Africa have shown a positive growth trend, with a rebound in 2023 after a decline in 2022 due to global economic instability and the Covid-19 pandemic. The demand for Vietnamese fragrant rice is rising in Africa, driven by urbanization and increasing incomes, with key importers being Ivory Coast, Ghana, Senegal, and Cameroon. To enhance its position in the global rice value chain, Vietnam is focusing on promoting fragrant rice, improving export policies, and leveraging bilateral cooperation mechanisms with African countries. The strategy includes exploring new MOUs with countries like Uganda and supporting enterprises in implementing existing agreements with nations such as Egypt and Madagascar, while ensuring transparent information dissemination by state agencies to facilitate market-driven operations.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Potential market According to the Department of Asian - African Markets (Ministry of Industry and Trade), Africa is an important rice export market for Vietnam. In the period 2017-2021, Vietnam's rice export turnover to Africa has seen positive growth, from 411 million USD in 2017 to 692.6 million USD in 2021. Rice usually accounts for about 15-20% of Vietnam's total export turnover to Africa. However, in 2022, Vietnam's rice export turnover to Africa decreased by 10.5% compared to 2021, reaching only 620 million USD (equivalent to 16% of Vietnam's total export value to this continent). The main reason for this decline is the increased demand for food reserves in many parts of the world due to global economic and political instability, which has pushed up rice prices, forcing some countries in the African region to cut rice imports. In addition, the Covid-19 pandemic has also caused a significant decrease in Africa's rice imports because the world's rice supply has been disrupted, ...
Source: Agriculture

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