Vietnam’s rice exports hit record high

International Business News  –  According to the Ministry of Agriculture and Rural Development of Vietnam, despite the fierce competition in the rice export market, Vietnamese rice is still favored by consumers in many countries around the world.

Vietnam’s Ministry of Agriculture and Rural Development revealed that in the first seven months of 2022, Vietnam’s rice export volume reached 4.19 million tons, earning more than 2 billion US dollars in foreign exchange.

Among Vietnam’s rice export markets, exports to the United States increased the most, with a year-on-year increase of 65.3%; the Philippines, the largest sales market of Vietnam’s rice, ranked second, with a year-on-year increase of 48.6%.

In recent years, many agricultural enterprises in Vietnam have pursued the production of high-quality rice, and have successfully exported the rice brands they created to the high-end market, enhancing the status of Vietnamese rice in the international market.

It can be said that the development strategy that Vietnamese enterprises choose to focus on improving quality and building brands has begun to bear “sweet fruits”. With the market opening benefits brought by the new generation of free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), etc. It is believed that Vietnamese rice will play an important role in improving competitiveness and conquering A big step forward for the world’s consumers.