Golden time to promote Vietnamese rice brand

According to rice experts, after winning the World’s Best Rice award, Vietnamese rice has resonated in the global market. If the country rapidly expands the production of ST25 rice with a safe cultivation process, this will be the golden time for Vietnam to advertise the Vietnamese rice brand.

Large-scale rice field model is creating high quality raw material areas in the Mekong Delta. (Photo: SGGP)

On August 18, a rice exporter in the Mekong Delta said that the export price of 5-percent broken rice in Vietnam is at the highest level in the past ten years.

According to the Vietnam Food Association, the current export price of 5-percent broken rice in Vietnam is from US$473 to $477 per ton, $100 per ton higher than that of India, $50 per ton higher more than that of Pakistan, and higher than the rice export price of Thailand by $10 per ton. This is the first time that Vietnam's export price of 5-percent broken rice has been higher than that of Thailand.

In the first seven months of this year, Vietnam exported nearly 3.9 million tons of rice, worth $1.9 billion, up 10.9 percent in value over the same period last year.

According to rice experts, after winning the best rice award in the world, Vietnamese rice has resonated in the world market. Even in the domestic market, ST25 rice - the world's best rice winner in 2019 - is being strongly consumed by the market at a high selling price of VND30,000 per kilogram, equivalent to over $1,300 per ton. If the ST25 rice production is expanded rapidly with a safe production process, this will be a golden time for Vietnam to advertise the Vietnamese rice brand.

At the same time, many opportunities open up for Vietnamese rice to access more broadly in the EU market when the EU and Vietnam Free Trade Agreement (EVFTA) took effect from the beginning of August this year.

Currently, the main rice exporters in the Mekong Delta are striving to implement the rice production chain following the advanced food safety procedures to meet the demand from demanding markets.