Workers load rice bags for export. Viet Nam is expected to export between 6.5 million and seven million tonnes of rice in 2014. — Photo thuvienphapluat.vn

PHNOM PENH (Biz Hub) ─ "The Rice Trader", a two-day international meeting on rice, opened in the Cambodian capital on November 19.

More than 80 representatives from nearly 50 Vietnamese companies and associations among about 500 delegates from nearly 40 countries and territories will discuss efficiency and sustainability in producing and trading in rice at the event.

Viet Nam Food Association General Secretary Huynh Minh Hue said that the meeting will provide domestic producers and exporters information about the trends of the global rice market, as well as opportunities to promote their products and seek business partners.

Hue added that Viet Nam, the world's second largest rice exporter after Thailand, is seeing stable growth of rice exports. The country is expected to export between 6.5 million and seven million tonnes of rice this year.

China and the ASEAN nations are major importers of Vietnamese rice, he pointed out.

In October, the ministry of industry and trade cited reports of the Organisation for Economic Co-operation and Development, and the Food and Agriculture Organisation of the United Nations, which said that Viet Nam is likely to maintain its position as the second-largest rice exporter till 2022.

However, some countries such as India, Pakistan and the United States are speeding up rice production and export, and will be direct competitors of Viet Nam in the future.

The ministry forecast that Viet Nam will face fierce competition in Africa, which will have to import about 14.6 million tonnes of rice by 2022 to meet the market demand.

Last year, the country exported rice to 33 out of 55 African nations and gained about US$775 million, up two per cent over the previous year. This accounted for 26 per cent of the total value of its rice exports.

Cambodia's Minister of Trade Sun Chanthol emphasised the importance of rice in ensuring global food security, and called on rice companies to build appropriate trading strategies to harmonise the interests of farmers, dealers and consumers. ─ VNS