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Vietnam aims to cut annual rice exports by 44% to 4m tonnes by 2030

Rice
Vietnam
Published May 28, 2023

Tridge summary

Vietnam aims to cut its rice exports to 4 million tonnes a year by 2030, the government said in a document detailing its rice export strategy, down from 7.1 million tonnes last year. Vietnam is the world's third-largest rice exporter, after India and Thailand. The move is aimed at "boosting the exports of high-quality rice, ensuring domestic food security, protecting the environment and adapting to climate change," according to the government document, dated May 26 and reviewed by Reuters.

Original content

HANOI (Reuters) -- Rice export revenue will fall to $2.62 billion a year by 2030, down from $3.45 billion in 2022, the document said. "Although Vietnam's rice farming area is shrinking due to climate change and some farmers are switching to growing other crops and raising shrimp, the strategy appears to be too aggressive," a rice trader based in Ho Chi Minh City said on Saturday. The trader said some rice farmers in the Mekong Delta are turning parts of their fields to fruit farms, growing mangoes, grapefruit, jackfruit and durian, but the vast majority remain dependant on rice. The trend toward cultivating shrimp has been taking place in the area for years as rising seawater triggered by climate change brings significantly increased salinisation in the Mekong Delta region. Vietnam will diversify its rice export markets to reduce its reliance on any country, the government document said. The Philippines has long been Vietnam's biggest rice buyer, accounting for 45% of its ...
Source: Nikkei
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