Consultation session seeks ways to export rice to ASEAN market

During the event, Pham The Cuong, trade counselor of Vietnam in Indonesia, is expected to provide local businesses with information and export opportunities in the Indonesian rice market.

Meanwhile, Nguyen Thanh Huy, a representative from the Vietnamese Trade Office in Thailand will share Thailand's rice cultivation and harvesting experience with Vietnamese enterprises.

Other Vietnamese trade officials in Laos and Malaysia will put forth several recommendations for businesses when exporting rice to these markets.

Among ASEAN countries, the Philippines is a leading consumer of Vietnamese rice, spending over US$1.25 billion last year and US$311.08 million in the first quarter of the year on the products, according to the Ministry of Industry and Trade (MoIT).

Apart from the Philippines, Vietnam also ships rice to other regional markets such as Malaysia, Singapore, Indonesia, and Brunei. The MoIT reported that Vietnamese rice exports to Malaysia in January alone rose 163.4% in volume and 156% in value compared to December 2021.

Vietnam plans to gradually reduce its annual rice export volume to approximately 4 million tonnes till 2030, focusing on major varieties such as fragrant rice, specialty rice, japonica rice, and high-quality white rice thanks to their higher selling prices and added value.

Experts suggested that the rice industry review the import demand of each market in the ASEAN region, identify markets that consume ordinary rice and high-quality rice in order to improve the efficiency of rice exports to the bloc.

They advised rice businesses to pay close attention to trade policies with regional countries in order to take full advantage of free trade agreements (FTAs) between ASEAN and partners worldwide, while simultaneously improving technology levels in a bid to enhance the country’s competitive advantages.