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HANOI — Vietnam goals to chop its rice exports to 4 million tonnes a yr by 2030, the federal government stated in a doc detailing its rice export technique, down from 7.1 million tonnes final yr.

Vietnam is the world’s third-largest rice exporter, after India and Thailand.

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The transfer is geared toward “boosting the exports of high-quality rice, ensuring domestic food security, protecting the environment and adapting to climate change,” based on the federal government doc, dated May 26 and reviewed by Reuters.

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Rice export income will fall to $2.62 billion a yr by 2030, down from $3.45 billion in 2022, the doc stated.

“Although Vietnam’s rice farming area is shrinking due to climate change and some farmers are switching to growing other crops and raising shrimp, the strategy appears to be too aggressive,” a rice dealer primarily based in Ho Chi Minh City stated on Saturday.

The dealer stated some rice farmers within the Mekong Delta are turning elements of their fields to fruit farms, rising mangoes, grapefruit, jackfruit and durian, however the overwhelming majority stay dependant on rice.

The

pattern towards cultivating shrimp

has been happening within the space for years as rising seawater triggered by local weather change brings considerably elevated salination within the Mekong Delta area.

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Vietnam will diversify its rice export markets to cut back its reliance on any nation, the federal government doc stated. The Philippines has lengthy been Vietnam’s largest rice purchaser, accounting for 45% of its shipments final yr.

Vietnamese Prime Minister Pham Minh Chinh informed Philippines President Ferdinand Marcos Jr at a regional assembly in Indonesia this month that

Vietnam was prepared to provide rice

to the Philippines for the long run at cheap costs.

By 2025, 60% of Vietnamese rice exports can be shipped to Asian markets, 22% to Africa, 7% to the United States, 4% to the Middle East and three% to Europe, the doc stated.

The Vietnam Food Association, which represents rice processors and exporters, didn’t instantly reply to requests for remark.

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The authorities stated Vietnam will concentrate on the manufacturing of high-quality, aromatic and glutinous rice, whereas decreasing the manufacturing of low-quality grains to fifteen% of whole output by 2025 and to 10% by 2030.

“I doubt the strategy will materialize, as rice production depends on supply and demand, not on a government decision,” one other rice dealer within the Mekong Delta province of An Giang stated.

Rice exports from Vietnam within the first 4 months of this yr rose 40.7% from a yr earlier to 2.9 million tonnes, based on authorities customs information.

(Reporting by Khanh Vu; Editing by Tom Hogue, Kim Coghill and Gerry Doyle)