The consensus was reached when Vietnamese Prime Minister Pham Minh Chinh met with Thai counterpart Srettha Thavisin and Filipino President Ferdinand Romualdez Marcos on the sidelines of the ASEAN-Japan Commemorative Summit on Sunday in Tokyo.

Farmers harvest rice in Thu Duc City, HCMC, September 2021.

The Vietnamese and Thai prime ministers agreed to lift the two-way trade between the two countries to US$25 billion soon, through creating more favorable conditions for importing and exporting goods, including rice.

Thailand is currently Vietnam’s largest trading partner in ASEAN, with import-export turnovers reaching $21.5 billion last year. Meanwhile, it is the 9th largest foreign investor in Vietnam.

Vietnam and Thailand will also implement the "Three Connections" Initiative which focuses on new areas such as digital transformation, green transformation, and the circular economy.

The Vietnamese prime minister and the Filipino President agreed to step up rice export cooperation to ensure regional and global food security when both countries export rice to many nations, and the Philippines imports Vietnamese rice.

Among Vietnamese rice importers, the Philippines currently imports the most. In the first nine months of this year, the Philippines imported 2.4 million tons of rice worth $1.5 billion from Vietnam.

Data from the Ministry of Agriculture and Rural Development shows in the first 11 months, Vietnam earned $4.4 billion from exporting 7.75 million tons of rice to many countries around the world.

The average price of Vietnamese rice was $568 per ton, surging 17% over the same period last year, sometimes reaching nearly $650 per ton.

Dutch FMO, Loc Troi sign 90 million USD credit package to second sustainable rice production

The Dutch Entrepreneurial Development Bank (FMO) and Vietnamese Loc Troi Group JSC on November 2 signed a Letter of Intent for a 90 million USD credit package, to promote sustainable rice production in Vietnam.

Vietnam promotes rice exports to China

A delegation of the Ministry of Industry and Trade (MoIT) led by Deputy Director of the ministry’s Agency of Foreign Trade Tran Quoc Toan and representatives from 19 Vietnamese rice exporters have paid a working visit to Beijing, China to promote Vietnamese rice in the market.

Rice export prices hit 15-year high

Vietnam’s 5% broken rice has risen to a 15-year peak of $653 per ton, exceeding that of competitors Thailand and Pakistan.

Rice prices resurge to record high

Vietnam’s rice export prices have returned to a record high as demand for high-quality products continues to climb globally.

Vietnam rice export price climbs amid thin supply

Vietnam's rice price continues to rise as the harvest season ends, creating a shortage of supply.

Source: VnExpress