Rice exporters advised to design strategy suitable to particular markets

Despite positive results in rice export so far, experts held that domestic firms should carefully evaluate the demand of major export markets to design suitable strategy for the rest of the year. Rice packaging line for export at the factory of Trung An High-tech Farming Joint Stock Company in Can Tho (Photo: VNA) Can Tho (VNA) – Despite positive results in rice export so far, experts held that domestic firms should carefully evaluate the demand of major export markets to design suitable strategy for the rest of the year. According to Nguyen Phuc Nam, Vice Director of the Asia-Africa Market Department under the Ministry of Industry and Trade (MoIT), Asia and Africa, which are massive markets with 117 countries and territories and a total population of 6.

5 billion, accounting for 80% of the world population, have been important export markets of Vietnamese rice. Of the 8.3 million tonnes of rice Vietnam shipped abroad in 2023, 7.

34 million tonnes, or 90%, were consumed in Asia and Africa at a cost of more than 4.1 billion USD. In the first quarter of 2024, Vietnam’s export of the grain to these markets continued to rise.

Nguyen Anh Son, Director of the MoIT’s Import-Export Department, cited a report by the US Department of Agriculture as saying that in the 2023-2024 crop, the global rice output is predicted to reach 515.5 million tonnes, lower than the forecast demand of 521.3 million tonnes.

This will bring more opportunities for Vietnam to export the food to Asia and A.