Agriculture & Food

With the growth of world food demand, Vietnam's rice exports are expected to continue to increase in the coming months, especially from the European Union, China, Bangladesh and Iran. The opportunities brought by the Vietnam EU free trade agreement (evfta) and the rice export potential of the ASEAN region may continue to pave the way for Vietnamese rice. Many enterprises and producing areas are trying to build a high-quality and sustainable export rice supply chain.

The Vietnam EU free trade agreement (evfta) has opened up unprecedented opportunities for Vietnamese rice. With preferential tariff treatment, fragrant rice and high-quality rice are exported to the European market, which has been highly praised and achieved positive results. Statistics show that in the first four months of 2022, Vietnam's rice exports to the EU reached more than 30000 tons, earning US $23 million in foreign exchange. With the advantages of price, quality and evfta agreement, Vietnam's rice exports to the EU will continue to make new breakthroughs. Vietnam's rice exports to the EU are expected to increase significantly in 2022. The quality of Vietnamese rice has been improved, especially Vietnamese fragrant rice is popular with European consumers.

According to the data of Vietnam's Ministry of agriculture and rural development, in the first quarter of 2022, the Philippines was Vietnam's largest rice export market, with a market share of 42.6%. In the first three months of 2022, Vietnam's rice export to this market reached nearly 6721500 tons, with an export volume of more than 310 million US dollars, with a year-on-year increase of 63.8% and 41.9%.

In addition to Malaysia, Brunei and other important markets, it also exports a large amount of rice to Malaysia and Singapore. Vietnam's rice export structure to ASEAN continues to change to increase varieties with higher price and added value, such as fragrant rice, specialty rice, japonica rice and high-grade white rice.