Loc Troi Group JSC exported nearly 500 tonnes of rice labelled with its own brand name “Com Vietnam Rice” to the EU markets in June.
With the local rice demand taken into account, the Mekong Delta region has some 2.5 million tons of rice left in November and December that can be exported.
The export price of Vietnam’s 5% broken rice has soared recently, surpassing that of Thailand and far outstripping the rice prices of India and Pakistan, according to the Vietnam Food Association.
The Ministry of Industry and Trade has set up a working group to inspect the implementation of the law on rice imports and exports at five local rice import and export companies.
Vietnamese rice exporters have been urged to play a more active role in utilising free trade agreements (FTAs) to which Vietnam is a party to boost falling exports.
There are different remarks over the good harvest and export prices of rice in the Mekong Delta but the strong decline in rice export volume.
If certain legal entities in the US successfully register the ST25 rice brand, Ho Quang Cua, the real owner of the brand, will lose ownership and it will be very difficult to claim it back.
Overcoming Thailand and India, Vietnamese rice ranked first in the world on average selling price, which in the first quarter was US$547 per ton, up 18.6% year on year.
The first 60 tonnes of jasmin rice shipped to the UK under the UK-Vietnam Free Trade Agreement (UKVFTA) hit the shelves in London on January 26.