Although Vietnam’s rice exports have traditionally focused on Asian markets, experts have advised businesses to pay more attention to Africa which has emerged as a key potential market.

VOV.VN - In 2024, Vietnam is expected to set a new record for rice exports, with forecasts indicating over 8 million tonnes would be exported and total export revenue would potentially surpass US$5 billion.

Vietnamese businesses have secured three rice lots totalling 85,000 tonnes, representing 17% of Indonesia's massive 500,000-tonne rice tender in October, according to the rice market news site SSRicenews.

Improving the rice quality, diversifying markets, and building a recognisable and trustworthy brand identity for Vietnamese rice are among measures for Vietnam to boost its rice exports, said Secretary of All India Spices Importers Federation (AISIF) Hiren Gandhi.

VOV.VN - As many as 163 Vietnamese businesses have been certified to meet the conditions for rice export, according to an update from the Import-Export Department under the Ministry of Industry and Trade.

Despite the country’s status as one of the world’s leading rice exporters, Vietnam is expected to spend nearly US$1 billion on rice imports for processing this year.

VOV.VN - India has officially lifted its ban on the export of non-basmati white rice with the floor price being applied at US$490 per tonne, according to the Vietnam Food Association (VFA).

Indonesia has announced a record rice tender for September, seeking to acquire up to 450,000 tonnes from international suppliers.

Vietnam’s rice exports are expected to reach a record turnover of about US$5 billion this year, as high demand from many large and traditional markets, such as the Philippines and Indonesia, continues.

Vietnam exported 6.16 million tonnes of rice in the first eight months of this year, up 5.9% over the same period last year, the Ministry of Agriculture and Rural Development (MARD) has said.