Vietnamese rice exports could rise sharply in 2023, according to the Communist Party of Vietnam website on March 30.
It is observed that there are many positive signs in the export of Vietnamese rice. In 2023, rice exports could reach about 7 million tons with a value of 4,000 million dollars.
Despite the fact that the volume of rice exports is lower than in 2022 (7.13 million tons), its value will exceed last year’s volume ($3.450 million).
After the first batch of Vietnamese rice was sold at the Carrefour supermarket chain in September 2022, Vietnamese rice corporation Lokchoy is currently working on order fulfillment for 400,000 tons of rice for EU partners. Vietnamese branded rice is supported by European consumers.
Apart from the EU, Indonesia is also a potential market for Vietnamese rice. On March 27, 2023, the country decided to import an additional 2 million tons of rice from Vietnam for the national reserve in 2023, according to the Vietnam Trade Representative in Indonesia. Of these, 500 thousand tons will be delivered as soon as possible.
With the good performance of Vietnam at present, the rice export sources will be relatively stable.
Furthermore, if India continues to uphold the rice export ban, it will create favorable conditions for Vietnam’s rice exports. In particular, the fact that the world markets, especially the traditional markets (China, Philippines, Indonesia) are expanding consumer demand, this also contributes to the achievement of rice exports of around 7 million tons this year.
Source: Rossa Primavera
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