(VOVWORLD) - Vietnam may become the leading global rice exporter in 2020, Minister of Industry and Trade Tran Tuan Anh told the National Assembly on Monday.
Vietnam exported more than 3 million tons of rice worth nearly 1.5 billion USD in the first five months of the year, a year-on-year increase of 12%, according to the minister.
The Philippines is Vietnam’s biggest rice importer. Exports to other markets like China, Indonesia, and Ghana also increased sharply. The rice export price in the first five months this year rose 13% over the same period last year, reaching an average of 480 USD per ton.
Vietnam has a great opportunity to surpass Thailand thanks to its competitive price and climbing exports, according to the Ministry of Industry and Trade.
Rice export will continue to rise in the near future as many countries start to resume imports, according to the Ministry of Agriculture and Rural Development.