Bright spots for Vietnamese rice in emerging markets
(VOV) - Although overall rice exports during the two months leading up to March dropped compared to last year’s corresponding period, analysts at the Ministry of Industry and Trade have reported some bright spots in the figures.
Most notably, the bright spots were in rice exports to emerging markets in Africa, West Asia and South Asia, which accounted for 27% of the total agro-forestry-fisheries exports for the period and experienced significant on-year growth.
In the January-February period total agricultural exports for rice, pepper, tea, and cashew nuts to these markets combined jumped 14.2% compared to last year’s same two-month period to US$215.4 million.
Another bright spot was the two markets of Ghana and Ivory Coast, which have resumed the import of Vietnamese rice with exports reaching US$30.1 million and US$22.3 million respectively.
Notably, the rice, pepper, cashew and tea exports to these markets are likely to grow strongly in the coming time, analysts at the ministry said.