Experts at the forum shared the view that prices of Vietnamese rice will continue to stay high as economic and political uncertainties will push up food demand. They, therefore, suggested exporters utilize opportunities in market access and expansion.

Vietnam’s rice export to hit 7 million tons this year

If the export volume is maintained at over 400,000 tons each month in the remaining two months, the whole year’s export volume of the staple will reach from 6.8-7 million tons, they said.

Le Thanh Hoa, deputy head of the Agro Processing and Market Development Authority (AgroTrade), asked businesses to pay due attention to China, saying although it is a big and promising market of Vietnamese farm produce, the country has made changes in import requirements, from plant quarantine to packaging, tracking of origin and growing area codes.

A total of 22 Vietnamese firms have been licensed to ship rice to China, and Vietnam has proposed China expand the list.

Apart from China, the European Union (E.U.) and the U.K. have also remained Vietnam’s important markets, experts said, suggesting exporters tighten their connectivity with purchasing and processing units to satisfy technical requirements of importers, thus better utilizing free trade agreements (FTAs) and export quotas.

Source: VNA