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(QNO) - The SS Rice News Convention 2024, a global rice conference, has just taken place in Da Nang city.
The conference attracted over 400 importers, exporters, and providers of ancillary services in the rice industry, along with top experts and researchers from 30 countries worldwide.
The leader of the Agency of the Foreign Trade (under the Ministry of Industry and Trade) stated at the conference that the global rice trade is currently affected by various factors influencing the production and export situations of many countries.
The Ministry of Industry and Trade, in coordination with relevant agencies, local authorities, and the Vietnam Food Association (VFA), is leading efforts to manage and oversee rice exports effectively, as mandated by Decree No. 107.
At the conference, it was reported that rice exports have shown optimistic signs since the early months of the year. In January, rice export turnover reached 362 million USD, up 7% compared to the same period last year.
Additionally, according to several forecasts, rice prices are anticipated to rise in 2024 due to tightened market supplies resulting from export restrictions in India.
The emergence of El Nino and its potential impact on major rice-growing areas has raised concerns about supply. This presents significant opportunities for Vietnam's rice industry and businesses, albeit with accompanying challenges.
At the conference, delegates analyzed market trends, updated India's rice export policies amid export restrictions, and explored alternative global rice supply sources, particularly from Southeast Asia.
On this occasion, delegates also proposed practical solutions for market development to support rice industry enterprises in exploring diverse export markets and enhancing the brand position of Vietnam's rice industry.