Vietnamese rice to face tough competition in 2014

At a January 9 meeting in HCM City that discussed rice export plans for 2014, VFA representatives highlighted formidable rivalry from Thai fragrant and white rice and Indian basmati and broken rice.

The VFA believes quality Vietnamese fragrant and white rice enjoys competitive advantages in Chinese, African, and Southeast Asian markets.

Southeast Asia's rice import demands have stagnated  or even slumped, but China's hunger for Vietnamese rice shows no sign of diminishing.

The VFA was careful to acknowledge the Chinese market's inherent risks and comparatively low prices. It promised to devote resources to consolidating shares in traditional markets and expanding promotional efforts in emerging markets.

Business representatives also urged the Ministry of Industry and Trade (MoIT) and relevant agencies to encourage cross-border exports. The Ministry of Agriculture and Rural Development (MARD) and the MOIT should devise an overarching rice sector strategy that includes strict chemical residue monitoring for intended US, EU, Japanese, and South Korean exports.

 (Source: VOV News)