Vietnam increased rice exports to the world market by 19% in the first eight months of this year, to 4.7 million tons. This was reported on Wednesday by the newspaper “Tuoy che” with reference to the Vietnamese Association of food producers.
According to the organization, it is expected that by the end of the whole year, the supply of Vietnamese rice abroad will grow to 6.3-6.5 million tons, which is dictated by the high demand for this product in foreign markets. Experts predict that export prices for Vietnamese rice will also rise in the coming months due to higher production costs and due to the crop failure of this cereal against the background of adverse weather conditions in several major rice-producing countries.
According to the local Ministry of Agriculture and Rural Development, Vietnam currently has 7.3 million hectares of acreage under rice and produces 26-28 million tons of this cereal. This amount is enough to ensure the country’s food security and exports in the amount of 6-7 million tons.
The products of the agro-industrial complex form the basis of Vietnamese exports. Its assortment is dominated by rice, coffee, tea, spices, seafood. The country has long held the world leadership in the export of black pepper, remains the world’s largest exporter of cashew nuts and products from them. Vietnam is also the third largest rice exporter in the world after India and Thailand and the second largest supplier of coffee to the international market after Brazil.