Việt Nam aims to increase rice market share in Africa

The export of this grain to Africa rose to US$692.6 million in 2021 from $411 million in 2017. Rice typically accounts for 15-20 per cent of Việt Nam’s total exports to Africa. Although Việt Nam’s rice exports have traditionally focused on Asian markets, experts have advised businesses to pay more attention to Africa which has emerged as a key potential destination. A promising market According to the Asia-Africa Market Department under the Ministry of Industry and Trade (MoIT), Africa is an important export market for Việt Nam's rice. The export of this grain to Africa rose to US$692.6 million in 2021 from $411 million in 2017. Rice typically accounts for 15-20 per cent of Việt Nam’s total exports to Africa. However, in 2022, Việt Nam’s rice exports to Africa declined by 10.5 per cent compared to 2021, reaching only $620 million, equivalent to 16 per cent of Việt Nam’s total exports to this continent. This drop was largely due to increased global food stockpiling amid economic ...