AsemconnectVietnam - According to the Ministry of Agriculture and Rural Development, 2023 is a successful year for Vietnam’s rice shipment as export volume and prices hit an all-time high of 8.3 million tonnes and 4.78 billion USD.

The total rice output in Vietnam increased 1.9% to 43.5 million tonnes, meeting both domestic demand and export.Experts said 2023 was full of difficulties for rice export as geo-political conflicts in the world disrupted food and input material supply. However, as a leading exporter of farm produce, particularly rice, Vietnam still managed to guarantee national food security and export growth. The quality of Vietnamese rice in the global market has also been further affirmed after the ST25 variety once again obtained the “World’s Best Rice” title recently. Rice exporters said as global supply is still low, the demand for Vietnamese rice will surge in 2024, especially from the Philippines and China.
Rice exports in 2024 could stay high
The agriculture sector and traders have expressed their high optimism about rice exports this year given high prices and stable markets, helping the grain remain a big foreign currency earner.
Rice exports in 2024 could stay high thanks to such markets as the Philippines, Indonesia, Africa, and Ghana. In particular, Indonesia is a relatively potential market when its State Logistics Agency (Bulog) recently announced that it has been assigned by the Indonesian Government to import 2 million tonnes of rice this year, Chairman of the GLE Company Vu Tuan Anh told the Lao dong (Labour) daily.
Vietnam was among the largest rice exporters to Indonesia and is expected to maintain this status in 2024, he noted.
Last year, India, the world’s biggest rice exporter, suddenly banned the export of non-basmati white rice. Despite this unexpected move and no time for preparation, Vietnam still managed to ship abroad about 8.29 million tonnes of rice worth 4.78 billion USD in 2023, up 16.7% in volume and 38.4% in value year on year, setting new records in more than 30 years since the country began exporting rice.
In 2024, Vietnam is in a more proactive position as it can grasp global demand and domestic output, so there are more favourbale conditions for the export, Anh continued.
Vietnam spends nearly USD900 million on rice imports
Despite being a big rice exporter, Vietnam also spent USD860 million to buy rice for animal food processing in 2023, mostly from Cambodia and India.
The ministry predicts that the global rice market will continue to face short supplies in 2024 and Vietnam's rice can benefit from higher prices, reaching over USD700 per tonne.
Philippines to sign 5-year rice deal with Vietnam
The Philippines is expected to forge a five-year rice deal with Vietnam during President Marcos’ state visit later this month to ensure stable supply even during calamities, Agriculture Secretary Francisco Tiu Laurel Jr. said yesterday.
Tiu Laurel said they have prepared a working draft for a memorandum of agreement (MOA), which would guarantee the supply of the staple to the Philippines.
“We were given instructions when we were in the ASEAN meeting in Japan by the President to draft, finalize the MOA with Vietnam, so that it will be signed during his state visit to Vietnam this end of January,” he said, referring to the Association of Southeast Asian Nations.
Netherlands, Australia help transform rice value chains in Mekong Delta
The Netherlands Development Organisation (SNV), in collaboration with related parties, on January 16 organised a workshop announcing the project ‘Transforming Rice Value Chains for Climate Resilient and Sustainable Development in the Mekong Delta’ (TRVC). The project will be implemented from the Summer-Autumn crop in 2024, with funding of 16 million AUD (10.5 million USD) from the Australian Embassy in Vietnam.It will be carried out by the SNV, in collaboration with the Ministry of Agriculture and Rural Development, and the Departments of Agriculture and Rural Development of An Giang, Dong Thap and Kien Giang provinces.The project’s over-arching goal is to shift to low carbon rice cultivation on over 200,000 hectares in the Mekong Delta, contributing to the project on cultivating high-quality and low-emissions rice on 1 million hectares in the delta to 2030.
T.Huong
Source: Vitic/ VNA