China remained the biggest rice importer of Vietnam with 29.1 percent of the rice market share, according to the Ministry of Agriculture and Rural Development.

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Vietnam earned USD 1.1 billion from exporting 2.16 million tons of rice in the first four months of 2018, up 35.7 percent in value and 21.7 percent in volume.

The average export price for rice showed a year-on-year rise of 15 percent to touch USD 501 per ton thanks to better quality.

High-quality rice comprised of up to 81 percent of the rice export volume, the ministry said, forecasting the world’s rice market will see a decrease in supply and an increase in demand in the coming time.

In 2018, Vietnam is forecast to ship 6.5 million tons of rice abroad, up 700,000 tons compared to 2017.

According to Vietnam’s Rice Market Development Strategy from 2017 to 2020 with a vision to 2030, one of the country’s goals is to gradually reduce the rice export volume but increase the value of exported rice.

Vietnamese rice is now exported to over 130 markets worldwide.

Source: VNA