Loc Troi Group has so far got orders to export 400,000 tonnes of rice to the European Union (EU) market in 2023, according to a representative of the company.

The rice price in the world market, which is at a nine-year high, helped Vietnam earn $2.2 billion from rice exports in the first eight months of the year.

Minister of Industry and Trade Tran Tuan Anh has signed on decision announcing the rice export quota for April after the Prime Minister gave the green light to resume exporting the product.

Vietnam shipped abroad 586,000 tonnes of rice in September for $251 million, pushing the total rice export volume and value in the first nine months of this year to 5.2 million tonnes and $2.24 billion, respectively.

Vietnam is one of the world’s top rice exporting nations, but its rice lacks competiveness when stacked up against other countries, such as those contemplating formation of the Trans-Pacific Partnership (TPP) free trade region.

 VietNamNet Bridge - Rice exports seem to be the playground of big State-owned corporations, which are able to impose unfavorable conditions on others, especially farmers.