Vietnam cuts rice exports, what's the fate of Indonesia?
Rice
Vietnam
Indonesia
Published May 30, 2023
Original content
Jakarta, CNBC Indonesia - Vietnam, one of Indonesia's rice supplying countries, will cut their rice exports to 4 million tonnes per year by 2030. Vietnam is the third largest rice exporter in the world, after India and Thailand. Last year, Vietnam exported 7.1 million tons of rice. "The move aims to increase exports of high-quality rice, ensure domestic food security, protect the environment and adapt to climate change," according to a government document dated May 26 as quoted by CNBC, Monday (29/5/2023). With this policy, Vietnam will lose large revenues from rice exports. It is predicted that the income they will receive from rice exports is only US$ 2.62 billion per year in 2030, down from US$ 3.45 billion in 2022. In addition to the cuts, Vietnam will also diversify its rice export market to reduce dependence on any other country. The Philippines has long been Vietnam's biggest rice buyer, accounting for 45% of its total shipments last year. Vietnamese Prime Minister Pham ...
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