Brian Jeffrey
Vietnam’s Rice Export Achievements in 2024
The Ministry of Agriculture and Rural Development (MARD) has announced that Vietnam exported 9.18 million tons of rice in 2024, generating a revenue of $5.75 billion. This marks a modest export volume increase of 12.9%, while the export value saw a significant rise of 23%.
Record-Breaking Rice Production
This year’s rice sector performance has set a historic milestone in terms of both quantity and revenue, surpassing previous records since its first export in 1989. Vietnam stands out as the pioneering country producing high-quality, low-emission rice across a vast area of 1 million hectares.
Engagement with Farmers
During a recent dialogue on December 31 between the Prime Minister and farmers, Le Thanh Long, a farmer from An Giang province, inquired about strategies to enhance the carbon credit market and advance the low-emission rice project.
Innovative Practices in An Giang
In response, Hoan highlighted An Giang’s proactive approach to the initiative, reporting a 20-30% reduction in production costs compared to traditional farming methods. This reduction is expected to boost farmer profits.
Opportunities in the Carbon Credit Market
The Prime Minister recognized that the carbon credit market is a novel concept for both Vietnam and the world, advising ministries to collaborate on this before presenting recommendations to the government.
Holistic Benefits Beyond Revenue
He emphasized that the advantages of the low-emission rice project extend beyond financial gains from carbon credits. It holds significant potential for enhancing Vietnam’s agricultural practices.
“For instance, straw can be repurposed into pellets or utilized as an organic input in subsequent crops. The carbon credit initiative is focused on broader objectives rather than just monetary returns,” Hoan elaborated.
Transforming the Rice Sector
Hoan affirmed that the Mekong Delta’s low-emission rice project has proven beneficial for farmers, marking a transformative step for the rice production sector and establishing a Vietnamese presence in the global rice market.
Commitment to Sustainable Agriculture
He also discussed the need to restructure rice production towards sustainability and align with climate change adaptation and global eco-friendly consumption practices.
Emphasizing sustainable agriculture, he noted that this approach not only boosts yield and production but also cuts costs, enhances rice quality, and safeguards both the environment and farmers’ well-being.
