Vietnam seeks to bolster rice exports to Africa

Update: 16:27 | 09/09/2020
Rice exports of Vietnam to African nations have been on the rise and the upward trend may continue in the next year.
TIN LIÊN QUAN
Vietnam exports 3.9 million tonnes of rice in seven months
Consumer price index up 0.4 percent in July
vietnam seeks to bolster rice exports to africa
Vietnam's rice exports to African nations have been on the rise. (Photo: VNA)

The Asia-African Market Department at the Ministry of Industry and Trade has joined hands with trade offices to arrange webinars introducing the potential of the African and Middle East markets, which drew hundreds of Vietnamese firms.

African countries, especially those in the western region, have a high demand for rice because local production cannot meet demand, especially during years with natural hazards, crop failure, political instability and diseases.

Algeria, in particular, relies entirely on rice imports, according to the Vietnam Trade Office in the country.

The surge in its rice consumption is attributed to the increase of Asian migrants in the country, particularly Chinese workers. Algeria purchased about 100,000 tonnes of rice per year, equivalent to 1 percent of the country’s food consumption.

Vietnam shipped in excess of 16,390 tonnes of rice to the African country in 2019, fetching 6.28 million USD, a leap of 20.8 percent in value from the previous year. The figure hit 14.58 million USD in the first six months of 2020, accounting for 58 percent of Vietnam’s total export value to Algeria.

Similarly, Senegal imports up to 800,000 tonnes of rice a year, primarily broken rice.

Vietnam’s rice exports to Senegal witnessed a sharp increase to 96,665 tonnes in 2019, earning 32.62 million USD, rising 13.1-fold in volume and 10.2-fold in value.

The country shipped rice worth 26.47 million USD in the first seven months of 2020, a year-on-year surge of 77.2 percent.

This year, Senegal is projected to import 1.25 million tonnes of the grain.

In both markets, Vietnamese rice faces tough competition from products of India, Thailand, Pakistan, Uruguay and China, among others.

The Vietnam Trade Office is keeping a close eye on adjustments in trade policies and rice import demand in the region, as well as import and payment regulations, especially in the context of COVID-19, to promptly inform businesses.

Teleconference gears investors to success in Vietnam

Teleconference gears investors to success in Vietnam

A teleconference, themed “Vietnam – Rising Star”, was held in Ha Noi on September 7 with an aim to improving the efficiency of doing business ...

Salt industry development plan for 2021-2030 approved

Salt industry development plan for 2021-2030 approved

Deputy Prime Minister Trinh Dinh Dung has approved a plan on developing the salt industry for 2021 – 2030.

Vietnam’s shrimp export to RoK sees positive growth

Vietnam’s shrimp export to RoK sees positive growth

The Republic of Korea (RoK) is the fifth-largest importer of Vietnamese shrimp products, accounting for 10.7 percent of the country’s total shrimp export value.

(Source: VNA)