Vietnam should focus on high-quality rice, experts say

Reorganizing production and producing high-quality rice with retraceable origins will increase Vietnamese rice’s value on the international market amid fierce competition from foreign products, experts have suggested.

Workers at Hau River Food Company in the southern Can Tho Province load rice for export (Photo: VNA)

Vietnam has been one a top rice exporter for decades but the value remains low as the country’s rice lacks its own trademarks.

Statistics showed that Vietnam exports from 6-8 million tons of rice each year but only earns US$3.7 billion.

A lack of prestigious brands, inability to control chemical residues and untraceable origins are the weaknesses of Vietnamese rice, especially in demanding markets.

According to experts, Vietnam needs to focus on creating high-quality rice brands because the market has become saturated.

The diversification of markets is another path for Vietnamese rice, according to Pham Van Chinh, head of the Export-Import Agency under the Ministry of Industry and Trade.


Other news

Most view

Workers making footwear products for export (Photo: SGGP)

Trade surplus tops $1 billion this year

The General Department of Vietnam Customs has reported the trade surplus of US$707 million in October and nearly $1.09 billion as of October 15 this year.


VAMC buys nearly VND21 trillion deep debts

Vietnam Asset Management Company (VAMC) purchased VND20,995 billion (US$924 million) of deep debts from credit institutions during the first nine months this year with the price of VND20,619 billion.


APEC finance and bank deputies meet in Hoi An

Disaster risk financing and insurance was one of the important topics that finance officials and bank deputies of 21 APEC economies are discussing at a meeting that began in Hoi An City on Friday.

Self - introduction

Stock market

180m shares start trading on UPCoM this week

Nearly 180 million shares of four companies will start trading on the Unlisted Public Company Market (UPCoM) on the Hà Nội Stock Exchange on October 16-20.