Agriculture ministry eyes higher rice exports amid global shortage

India and the UAE have halted rice exports and Russia has withdrawn from the Black Sea Grain Initiative.

The El Nino climate phenomenon has also impacted global rice production, though not in Vietnam whose output is likely to reach 43 million tons this year.

The ministry has called on the government to permit higher exports and on provinces to facilitate them.

Vietnam’s 5% broken rice prices have risen by 10.3% in the last 10 days to US$588 per ton on Tuesday, according to the Vietnam Food Association.

Exports surged by 30% year-on-year in the first seven months to $2.58 billion.

They are forecast to top $4.1 billion for the year.