Vietnam’s rice export potential to Senegal is huge

Rice

Vietnam

Senegal

Market & Price Trends

Published Mar 18, 2024

Tridge summary

Vietnam's rice exports to Senegal saw a significant increase of 215% in 2023, amounting to 12,000 tons and generating US$5.35 million. However, this figure still falls short of Senegal's annual rice demand, which ranges between 900,000 to 1 million tons. Senegal primarily imports low-priced broken rice from countries including India, Thailand, China, Pakistan, Uruguay, and Vietnam. Despite the Senegalese government's efforts to achieve self-sufficiency in food through rice development policies, it only fulfills 25-30% of the country's domestic demand.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

According to the Vietnamese Commercial Office in Algeria and Senegal, in 2023, Vietnam’s rice exports to Senegal reached 12,000 tons, earning US$5.35 million in foreign exchange, an increase of 215% compared with 2022. Although Vietnam's rice exports to Senegal have surged, they are still lower than the country's demand. Senegal is a large market for rice sales, with annual imports ranging from 900,000 to 1 million tons, mainly low-priced broken rice. In 2023, the country's rice import volume and import value will be 1.3 million tons and over 500 million US dollars respectively, a year-on-year decrease of 12.4% and nearly 13% respectively. The country's main rice suppliers are India, Thailand, China, Pakistan, Uruguay and Vietnam. In addition, Senegal also has other countries from Mauritania, Guinea-Bissau and Gambia. Over the years, the Senegalese government has implemented rice development policies to ensure self-sufficiency in food, but it still only meets 25-30% of domestic ...

Source: Foodmate