The Ministry of Agriculture and Rural Development expects Viet Nam to export 6.5 million tonnes of rice in 2018. – Photo cafef.vn

The Ministry of Agriculture and Rural Development expects Viet Nam to export 6.5 million tonnes of rice in 2018, Deputy Minister of Agriculture and Rural Development Ha Cong Tuan said at the ministry’s monthly meeting on Friday in Ha Noi.

To get high export value, high-quality rice will still account for a large proportion of the total export volume, while normal rice makes up less than 20 per cent, Tuan said.

He also said the export prices of Vietnamese rice had increased as their quality had improved.

The export price of Vietnamese rice rose from US$435 per tonne in 2016 to $450 per tonne in 2017 and $475 per tonne during the January-February period.

This was achieved by restructuring efficiently the production of rice to improve its quality and value.

At the same time, in the past two years, more local private enterprises have joined the global export market. Businesses have also invested more into the processing of rice but the percentage of processed rice is still low.

Viet Nam is doing well to improve its rice quality, he said, suggesting the country focus on improving the brand name of its rice.

According to the Ministry of Agriculture and Rural Development, Viet Nam shipped 861,000 tonnes of rice abroad in the first two months of this year, earning $419 million, up 17 per cent in volume and 34 per cent in value, compared with the same period last year.

The Philippines was the biggest importer of Vietnamese rice, accounting for 26.9 per cent of the market share. It was followed by China with 23.5 per cent.

Last year, Viet Nam earned $2.6 billion by exporting 5.8 million tonnes of rice. – VNS