Vietnam’s rice export is likely to surpass the target set for this year, said Chairman of the Vietnam Food Association Nguyen Ngoc Nam.

VOV.VN - With the global food price recently reaching its record high, there is a positive outlook ahead for rice exporters in Asia, including Vietnam, according to industry insiders.

The Vietnamese government has issued an agricultural restructuring policy, by which the rice structure has been strongly adjusted, changing the rice cultivation protocols and paying more attention to improving rice quality rather than increasing production.

Vietnam exported roughly 4.08 million tonnes of rice in the first seven months of 2022 to earn over US$1.99 billion, up 17.3% and 6%, respectively, against the same period last year, customs data shows.

VOV.VN - Rising global inflation in several major consumer markets such as the United States, Japan, and the EU, are putting increasing pressure on Vietnamese exporters.

VOV.VN - The first seven months of 2022 saw Vietnam export nearly 4.2 million tons of rice, up more than 20% over the same period last year, in which the US market increased the most with more than 65%.

The UK market still has considerable room for Vietnamese rice suppliers to boost exports thanks to the UK-Vietnam Free Trade Agreement (UKVFTA) tariff quota and the Vietnamese community of more than 100,000 people in the UK, a senior trade official has said.

VOV.VN - Tariff quotas set out in the terms of the Vietnam – UK Free Trade Agreement (UKVFTA) as well as 100,000 Vietnamese people residing in the UK are viewed as important factors for promoting local rice exports to this market.

VOV.VN - Vietnam’s rice exports to the United States during the opening five months of the year surged by 71.3% in volume, marking the highest rise among importers of Vietnamese rice.

Vietnam is expanding the export of its high-quality rice with the aim to increase the export value and improve farmers’ income.