China remained the biggest rice importer of Vietnam with 29.1% of the rice market share, according to the Ministry of Agriculture and Rural Development.
The average export price for rice showed a year-on-year rise of 15% to touch US$501 per tonne thanks to better quality.
High-quality rice comprised of up to 81% of the rice export volume, the ministry said, forecasting the world’s rice market will see a decrease in supply and an increase in demand in the coming time.
In 2018, Vietnam is forecast to ship 6.5 million tonnes of rice abroad, up 700,000 tonnes compared to 2017.
According to Vietnam’s Rice Market Development Strategy from 2017 to 2020 with a vision to 2030, one of the country’s goals is to gradually reduce the rice export volume but increase the value of exported rice.
Vietnamese rice is now exported to over 130 markets worldwide.