Vietnam vows to raise rice value

Vietnam’s rice export turnover in the first five months increased by 13 percent compared with the same period last year with the average export price of $485 per ton, a report said.

Vietnam is one of the biggest rice exporters in the world, but it is among the lowest income earners.

According to Pham Thai Binh, general director of Trung An Hi-tech Agriculture JSC, Vietnam mostly exports low-end low-cost rice with lower quality than Thai and Cambodian products.

“Even when Vietnam sells high-quality rice, buyers also try to force the prices down,” Binh said.

Experts believe that the problem lies in branding. According to Professor Vo Tong Xuan, having the best rice in the world will bring great opportunities to Vietnam.

Under the rice export strategy approved by the government, Vietnam will gradually reduce the export volume and increase the export value.

Minister of Agriculture and Rural Development Nguyen Xuan Cuong, at a working session with rice exporters, said Vietnam is ‘restructuring rice production’ by prioritizing investments in some varieties to heighten the value of the rice

Minister of Agriculture and Rural Development Nguyen Xuan Cuong, at a working session with rice exporters, said Vietnam is ‘restructuring rice production’ by prioritizing investments in some varieties to heighten the value of the rice

Quang Tri province has built a model of 600 hectares of organic rice growing area, which aims to develop the best rice.

With rapid growth of 15 percent of the animal feed industry over many years, Vietnam has to import 90 percent of oil cake brans needed from India to serve domestic production.

In Vietnam’s rice value chain in the time to come, not only rice grains, but rice bran will also be considered a key product.

CJ Group in Vietnam has suggested establishing a rice research center in Vietnam which would find ways to improve the value of Vietnam’s rice in the world market.

Chang Bok Sang from CJ said Vietnam has great potential for producing and exporting rice, but still cannot fully exploit the potential and optimize the added value.

“In order to fully exploit the potential and minimize risks as exports depends on import countries, it is necessary to increase the added value of rice by making processed products,” he said.

Want Want, the group with the largest rice cake market share in Taiwan, has come to Vietnam to set up a rice cake factory in Tien Giang. Once it becomes operational, slated for early 2021, it will use 6,000 tons of rice a year.

Source: https://vietnamnet.vn/en/business/vietnam-vows-to-raise-rice-value-659683.html