Vietnam ready to increase rice exports| MENAFN.COM

Saturday, 13 August 2022 12:28 GMT

Vietnam ready to increase rice exports


(MENAFN) VietNamNet, a news outlet, claimed on Monday, quoting the Agriculture Ministry, that Vietnam is ready to expand rice exports if India, the world's top exporter, imposes a block on foreign deliveries.

Vietnam produces 26–28 million tons of rice annually, and up to 7 million tons can be exported, according to Nguyen Nhu Cuong of the Department of Crop Production at the Ministry of Agriculture and Rural Development.

VietNamNet reported Cuong as saying, “the rice production has been going smoothly. If there are no unexpected effects such as natural calamities, we will always ensure food security.”

Invoking food security and locally skyrocketing costs, India prohibited wheat exports this month. Fears were raised by the action that it could worsen the food supply crisis already brought on by rising energy and fertilizer costs as well as supply chain interruptions. Additionally, it sparked worries that the export of rice may be the next to be prohibited, leading to reports of frightened traders increasing purchases and raising costs.

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