Vietnamese rice export to Senegal increases by 215%

Monday, 18/03/2024 14:52
Opportunities are opening up for Vietnamese businesses to export rice to Senegal, according to information from the Ministry of Industry and Trade and the Vietnam Trade Office in Algeria concurrently with Senegal.
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The Vietnam Trade Office in Algeria concurrently with Senegal said that this market consumes a lot of rice with an import volume of 900,000 to one million tons, mainly low-cost 100 percent broken rice.

In 2023, Vietnam exported 12,392 tons of rice to the market, valued at 5.35 million USD, an increase of 215%. Data from the General Department of Vietnam Customs showed that Vietnam exported 414 tons of rice to Senegal in the first 2 months of 2024, with a turnover of 307,820 USD.

While the rice supply is scarce and Senegal is preparing for the presidential election in 2024, the country will likely increase imports of broken rice from Asian countries. In March 2023, India allowed private businesses to export 250,000 tons of broken rice to Senegal.

This decision is seen as India's move to support some West African countries, even though the country has issued a ban on the export of 100% broken rice and a 20% tax on the export of other types of rice since September 2022.

Since 1995, Senegal has eliminated the state company's monopoly on rice imports and completely liberalized the import of this food. For many years, the Government of Senegal has implemented a policy of developing wet rice cultivation to ensure food self-sufficiency, but only 25-30% of the demand can be met.

Senegal's Statistics Center said that the country imported 1.3 million tons of rice in 2023 with a turnover of more than 500 million USD, down 12.4% in volume and nearly 13% in value compared to 2022. The main suppliers include India, Thailand, China, Pakistan, Uruguay and Vietnam./.