Export prosperity is an opportunity to affirm the Vietnamese rice brand

Published 2024년 5월 8일

Tridge summary

Vietnam's rice exports have seen significant growth in the first quarter of 2024, driven by export limitations and severe weather conditions globally. Producing over 90% of the country's rice exports, the Mekong Delta region has been pivotal in this increase, with exports reaching nearly 2.2 million tons at an average price of over 653 USD/ton. This growth is attributed to new generation Free Trade Agreements and entry into demanding markets like Europe, focusing on high-quality, specialty varieties and sustainable farming. However, local businesses and cooperatives face challenges in maintaining stable supply chains during price fluctuations and accessing credit for technology and machinery investments. The article suggests establishing a floor price for rice exports and emphasizes the need for cooperation among stakeholders to ensure the industry's stability and growth.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to forecasts, the global rice supply will decrease because some countries still limit rice exports and severe weather conditions such as floods, natural disasters, and drought have reduced rice supply. Therefore, Vietnam's rice exports are forecast to flourish and reach more markets in the near future. The Mekong Delta region is the rice granary of the country, each year the region produces from 24 to 25 million tons of rice, contributing more than 90% of Vietnam's rice exports. According to statistics from the General Department of Customs, last year rice exports brought Vietnam more than 4.6 billion USD, increasing both in volume and export turnover. This is considered a successful year for the rice industry. Even in the first quarter of 2024, the number was impressive when Vietnam exported nearly 2.2 million tons of rice worth 1.4 billion USD, with an average price of more than 653 USD/ton. Rice exports have increased by more than 17% in volume and more than 45% in ...

Source: Vov