Vietnam is looking to increase the volume and revenue of rice exports in the remaining months of this year, but a wide range of hindrances are looming on the horizon.

VOV.VN - Deputy Minister of Agriculture and Rural Development Hoang Trung made a fact-finding trip to the Mekong Delta province of Hau Giang on August 30 to examine its preparations for hosting the Vietnam Rice Festival 2023 this December.

Regulations on criteria for “made-in-Vietnam” products have not been issued since the Ministry of Industry and Trade’s proposal five years ago due to difficulties in origin traceability and worries over the burden of compliance costs on enterprises, the ministry said.

VOV.VN - Vietnam has been advised to take drastic measures to balance rice exports and reserves in a bid to ensure food security amid global food chain fluctuations, according to insiders.

VOV.VN - Vietnam’s rice export prices have continuously set new records over recent times and exceeded the US$550 per tonne mark following India's official ban placed on rice exports.

Although the export of goods has faced many difficulties, there have been encouraging signals in the past two months as enterprises and state management agencies have been actively implementing solutions to regain export momentum.

The rising demands for rice in international markets and higher prices are benefiting rice exporters as the number of orders has increased sharply.

In a recently published report, HSBC Vietnam posits that the recurring El Niño, after an absence of three years, could heighten the threat of droughts, water scarcities, and potential disruptions in trade across the ASEAN region.

Vietnam remained the biggest rice provider of the Philippines in the first five months of this year with turnover of US$772.4 million, surging 31.1% year-on-year.

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 diversify rice export markets with a reasonable, stable, and effective scale, market and product structure.