Deputy Prime Minister Le Minh Khai has just signed Decision No. 583/QD-TTg dated May 26, 2023 approving the strategy to develop Vietnam's rice export market until 2030.

By 2030, Vietnam will reduce its rice export target to about 4 million tons

Accordingly, the Strategy sets specific goals to increase added value, improve export value of rice, and reduce export volume by 2030 to about 4 million tons with a turnover equivalent to about 2.62 billion VND. USD, decrease in volume, so the average export growth rate in the period of 2023 - 2025 will decrease by about 2.4% and in the period 2026 - 2030 by about 3.6%.

In the period of 2023 - 2025, the proportion of low- and medium-grade white rice will account for no more than 15%; high-grade white rice accounts for about 20%; fragrant rice, japonica rice, specialty rice account for about 40%; sticky rice accounts for about 20%; rice products with high added value such as nutritious rice, parboiled rice, organic rice, rice flour, processed rice products, rice bran and some other rice by-products account for about 5%. Striving for the rate of exported rice with brand names to reach over 20%.

In the period 2026 - 2030, the proportion of low- and medium-grade white rice will account for no more than 10%; high-grade white rice accounts for about 15%; fragrant rice, japonica rice, specialty rice account for about 45%; sticky rice accounts for about 20%; rice products with high added value such as nutritious rice, parboiled rice, organic rice, rice flour, processed rice products, rice bran and some other rice by-products account for about 10%. Striving for the rate of exported rice with brands to reach over 40%.

The strategy also sets a target to increase the proportion of rice exported directly to the distribution systems of the markets to about 60%; improve export efficiency through intermediary channels, especially for markets that are not convenient in transportation and payment.

Striving to achieve about 25% of rice directly exported under the brand Vietnam Rice/Vietnam rice by 2030.

The general orientation of the Strategy is to restructure the export market towards a sustainable direction, effectively exploiting the rice import demand of key and traditional markets, and at the same time focusing on developing markets with high demand for rice. import demand for high-quality, high-value rice and rice-based products, markets with sustainable trade and investment partnerships, and FTA markets .

In the context of increasing competition between exporting countries and the world rice trade facing many unpredictable developments such as natural disasters, epidemics, military conflicts, trade wars,....

To develop Vietnam's rice export market, taking the market's needs and tastes to orient production and export, Deputy Prime Minister Le Minh Khai also suggested ministries, branches, localities, associations and rice export traders need to synchronously deploy 5 groups of specific solutions: Institutional improvement; Solution on rice supply; Demand-side solution; Solutions on export support; Solutions for private sector capacity development.

According to data from the Ministry of Industry and Trade , rice export volume in 2022 will reach 7.1 million tons, worth 3.45 billion USD, up 13.8% in volume and 5.1% in turnover. The average export price reached 486 USD/ton, down 7.7% compared to 2021. The Ministry of Industry and Trade said that Vietnam's rice exports in 2023 will be favorable, forecast to reach 6.5-7 million tons.

According to preliminary statistics of the General Department of Customs , rice exports in April reached 1.1 million tons, with a value of 573.9 million USD, bringing the total volume and value of rice exports in the first 4 months of 2023 to reach 2.95 million tons, worth $1.56 billion, up 43.6% in volume and 54.5% in value over the same period in 2022. This is the highest growth rate among product groups. main agricultural products.

Data from the General Department of Customs also show that in April 2023, Vietnam's average export rice price rose to the highest level in the past 10 years, offered for sale at $495-500/ton, an increase. 50 USD/ton compared to March 2023.