Vietnam: Producers tip fragrant rice exports this year to hit 700,000 tonnes

HCM CITY (VNS)— Viet Nam hopes to export 700,000 tonnes of fragrant rice this year and one million tonnes in the near future, according to the Viet Nam Food Association (VFA).

Exports of fragrant rice increased strongly last year, reaching 584,000 tonnes, the VFA has reported. Last year, Hong Kong, China and Western Africa were key markets for Vietnamese fragrant rice.

With its competitive prices and good quality, the country's fragrant rice sold more than its Thai rivals in these markets, all of which are top markets for fragrant rice. Vietnamese fragrant rice accounted for 40 per cent of market share in the Hong Kong market, as well as in the Western Africa market.

Exports of fragrant rice yield higher profits than standard rice exports. However, exports have remained below the country's potential because many farmers are reluctant to plant fragrant rice.

Although Viet Nam produces rice in three seasons each year, only rice harvested from the winter-spring crop and autumn-winter crop have good quality.

The summer-autumn rice crop usually yields rice with a lower quality and weaker aroma.

To ensure that the country has a sufficient volume of fragrant rice to meet the target, the VFA has asked the agricultural industry to encourage farmers in the Cuu Long (Mekong) River Delta to expand cultivation of fragrant rice during the winter-spring crop season.

In addition, the agricultural industry should develop a specific zoning plan for fragrant-rice production and provide farmers with production techniques, according to the VFA's chairman, Truong Thanh Phong.

The industry should also work to ensure a sufficient supply of good quality seedlings for farmers, he said.

Viet Nam's rice exports in the first 10 days of this year reached 49,296 tonnes, worth more than FOB US$23 million, VFA reported. The association expect to export 1.4 million tonnes of rice in the first quarter. 

January 17, 2013

Source: VNS