Strategy on rice export market development until 2030 approved

Nhập mIllustrative photo (Photo: VNA)

Deputy Prime Minister Le Minh Khai has just signed a decision approving the Strategy on Development of Vietnam's Rice Export Markets until 2030, which aims to develop and persify rice export markets with a reasonable, stable, and effective scale, market and product structure.

Under the strategy, Vietnam will consolidate traditional and key export markets and develop new and potential ones, and those with which it has signed free trade agreements (FTAs). The country also targets increasing the market share of Vietnamese rice in markets, especially in developed countries.

Vietnam will also associate the export markets with domestic production according to value chains, ensure the quality and safety of exported rice, increasing the presence of Vietnamese rice and products processed from rice in direct distribution channels in markets.

The country also eyes the export of high-quality rice and rice-based products, increase their values, ensure sustainable exports, and affirm the prestige and brand of Vietnamese rice.

Specific goals are increasing added value, improving the value of exported rice, and reducing export volume by 2030 to about 4 million tonnes with a turnover of about 2.62 billion USD. The average export growth rate will decrease by about 2.4% in 2023-2025 and 3.6% in 2026-2030.

Between 2023 and 2025, the proportion of low- and medium-grade white rice will not exceed 15%; high-grade white rice will account for about 20%; fragrant rice, japonica rice and specialty rice 40%; sticky rice 20%; rice products with high added value such as nutritious rice, parboiled rice, organic rice, rice flour, rice-processed products, rice bran and some other rice by-products 5%; and rice with brand names 20%.

The respective figures for 2026-2030 are 10%, 15%, 45%, 20%, 10% and 40%.

About 25% of exported rice is expected to bear the brand name of Vietnam rice by 2030.

By 2025, the Asian market will account for about 60% of the country’s total rice export turnover, Africa 22%, the Middle East 4%, Europe 3%, America 7%, and the Oceania 4%.

The respective figures for 2030 are 55%, 23%, 5%, 5%, 8%, and 4%./.