Vietnam’s rice exports this year are forecast to beat the earlier projection of 7.6 million tons, heard a conference on rice exports.

Vietnam has nine fragrant rice varieties that enjoy tax incentives within their export quota into the European Union, but there are no world’s best rice varieties ST24 and ST25.

The Philippines was the largest export market of Vietnamese rice in the first three months of 2024, reaching over 1.01 million tonnes, worth about $649 million.

The Philippine government is seeking to reduce its heavy dependence on Vietnamese rice by diversifying supply sources.

Vietnam’s rice exporters have been warned that they will have to compete with Thailand has begun boosting exports to Indonesia and the Philippines.

Although Vietnam holds huge potential to boost rice export in 2024 as the world is forecast to face a shortage of about 5 million tonnes of the grain, limitations in linkage chain must be tackled for the industry to move forward.

Minister of Agriculture and Rural Development Le Minh Hoan said he wants to send a message to millions of farming households and businesses that a ‘rice road’ does not mean just producing rice grains.

Rice is getting cheaper despite high demand in some countries.

Vietnam’s rice export has been shifting significantly toward high-quality and speciality products rather than quantity, with an annual stable turnover from 6.2 to 6.3 million tonnes in 2019-23.

Positive prospects are forecast for Vietnam’s rice export in 2024, with bright signs in both market and price.

Vietnam's rice exports are expected to continue their upward trajectory this year, toward a milestone of 5 billion USD in turnover.

Vietnamese rice has recently secured a firm foothold within the European market by boosting its own brand, thereby creating fresh momentum for new breakthroughs to occur this year.

The Mekong Delta is the largest rice production area in VN, but adverse impacts from natural and human-induced changes in the Mekong River have led to growing concerns over water security in the region.

Vietnam gained a record-high export turnover of $4.8 billion from rice in 2023. However, former Deputy Minister of Agriculture and Rural Development Bui Ba Bong said there are still two things that need to be done.

Experts have pointed out 10 problems that are hindering the development of the rice value chain, though Vietnam has great advantages for production.

The volume of Vietnamese rice for export in 2023 is estimated to have hit 8.2 million tonnes, bringing in nearly US$4.8 billion, according to the General Department of Vietnam Customs.

With estimated output of 43 million tons in 2023 and historic high export prices, Vietnamese farmers have made a high profit. Every $1,000 invested in each hectare of rice earned $3,000-3,500.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien forecasts a potential 11% year-on-year surge in rice export volume in 2023, reaching over eight million tonnes for Vietnam.

Vietnam is enjoying an all-time high in both rice output and export turnover this year, according to an international conference on the global rice market held on Wednesday in Hau Giang Province.

After reaching a peak, Vietnamese rice export prices decreased after news about the World's Best Rice Award 2023 given to Vietnam. Thai rice prices are on the rise and are about to catch up with Vietnamese rice.