Vietnam’s rice export to enjoy prosperous year in 2018

Many foreign countries have welcomed Vietnam’s high quality rice with higher prices, helping increase the country’s rice prices by 20- 30%. Learning from previous years’ experiences, this year the agricultural sector has applied technology and restructure crop to boost rice productivity and quality. According to Nguyen Xuan Cuong, Minister of Agriculture and Rural Development, since the beginning of this year, many exporters have signed feasible orders from Asian countries, and traditional markets with export price of over US$475 per tonnes. Production and market organization has showed positive sign, ensuring income for farmers and exporters. The world’s rice market is expected to enjoy an eventful year. Many traditional trading partners of Vietnam have bounced back. Pham Thai Binh, Director of Trung An High Technology Agriculture JSC told reporters: “My company and other exporters nationwide have received big number of orders compared to 2017. However, enterprises should have plans to sign orders with the highest prices.” The world’s rice trade is forecasted to increase by 1% to reach 42.3 tonnes, opening a chance for the country’s rice sector to continue bringing into play its advantage, promoting Vietnamese rice brand worldwide.

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