Increasing the amount of rice exports
The Ministry of Industry and Trade (MoIT) recently announced that it will intensify measures in 2015 to expand the nation’s rice exports.
Specifically the MoIT has set its sights on the African, West Asian and South Asian markets citing them as high demand markets where it can be price competitive with the other major players in the industry.
Currently the primary suppliers of rice to Africa are Thailand, India, Pakistan, Vietnam and the US. Thailand tops the list, accounting for 50% of market share, and the MoIT believes there arehighly favourable prospects to make substantive headway into the market in 2015.
In order to augment rice exports to these markets, the MoIT aims to strengthen marketing and promotion efforts and improve coordination with other governmental agencies involved in agro-forestry-fisheries exports.
The MoIT will also establish bonded warehouses in key markets such as Cameroon, Angola, and Mozambique to facilitate Vietnamese exporters and improve market accessibility the MoIT concluded.
