For 2019, the Ministry of Agriculture and Rural Development (MARD) has set a target of exporting 6.5 million tons of rice, valued at US$3 billion.
Tran Xuan Dinh, head of the Department of Crop Production under the ministry, told Dan Tri that 6.15 million tons of rice worth roughly US$3.15 billion was exported in 2018, up 5.7% in volume and 19.6% in value over the previous year.
Increased global demand for high-quality rice products such as aromatic and glutinous Japonica rice has pushed export rice prices from US$452 per ton to US$502 per ton, according to the news source. Vietnam's tropical climate is perfectly suited for producing large yields of these species, originally cultivated in Japan.
MARD is also encouraging rice-producing areas to cultivate certain crops for export-only in order to ensure high-quality grains, particularly for Japonica rice.
According to the news source, 60% of Vietnamese rice that is exported goes elsewhere in Asia, while 22% of of the annual yield is exported to Africa. The proportion of exports to global markets by 2030 is expected to be 50% to Asia, 25% to Africa, 10% to the Americas, 6% to Europe and 9% to other regions. White rice will account for 25% of exports while fragrant and specialty rice will account for 40%. Organic rice, parboiled rice and rice with improved micronutrients will make up over 10% of exports.
