Ministry targets USD3.5 billion of rice export by 2020
Thursday, 18/08/2016 21:45 (GMT+7)
The Ministry of Industry and Trade has released a draft decision approving Vietnam’s rice export market development strategy in the 2016-2020 period, with a vision to 2030, in order to remove difficulties for rice export.
Photo for illustration. (Source: nld.com.vn)
The draft targets stabilizing exports, ensuring export value around USD3 billion a year by 2017 and USD3.5 billion by 2020.
It defines Vietnam’s rice export market structure shifting towards gradually increasing the proportion of high-quality and high-value rice markets, organic rice, nutritious rice and special rice recognized as national brands and products made from rice.
The low-quality white rice market segment will drop to 15% by 2020 and 10% by 2025, while the market segments of average-quality rice and high-quality, fragrant and sticky rice will make up 20% and 60%, respectively.
The ministry is striving to diversify export markets by raising rice export density at markets with high added value and reducing the density at markets with low added value and profits.
At new and selective markets like the EU and America, the draft targets intensifying high-quality rice export to build on the advantages of the Vietnam - EU Free Trade and Trans-Pacific Partnership Agreements./.
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