Vietnam wants to reduce annual rice exports by 44% by 2030

As the world's third largest exporter behind India and Thailand, Vietnam has adopted a new strategy with which it aims primarily at Asian markets, but also at Africa.

In particular, Vietnam wants to improve the quality of its exports and ensure national food security. © CC0 Pixabay/ImageParty

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By reducing its exports, the Vietnamese government wants to "boost exports of high-quality rice", while ensuring national food security. Hanoi wants to focus on the production of fragrant and glutinous rice, while reducing the production of low-quality grains to 15 percent of total production by 2025 and 10 percent by 2030. Hanoi also said the country will strive to reduce residues of plant protection products, including pesticides, in its rice.

Vietnam also wants to diversify its rice export markets to reduce its dependence on a particular country. The Philippines has long been the largest buyer of Vietnamese rice, accounting for 45 percent of shipments last year. According to the new strategy, 60 percent of Vietnam's rice exports are expected to go to Asian markets and 22 percent to Africa by 2025. Less than 15% will target America, the Middle East and Europe combined.

Africa remains an interesting market for Vietnam. According to the Vietnamese Ministry of Industry and Trade, Vietnam's exports to the mainland are worth more than $2 billion in 2022. Rice exports alone are worth more than $568 million.

A penetration of the African market that could well accelerate thanks to the AfCFTA, this African Continental Free Trade Area, which partially or totally lifts customs duties. In 2019, Vietnam exported rice to 35 African countries, including Senegal, Algeria and Gambia.

>> Read also: Rice prices: a gloomy scenario for 2023

(With agencies)

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  • Viet Nam
  • Agriculture and Fisheries
  • Economy
  • Africa
  • Trade and Commerce