The SS Rice News Convention 2024 was held yesterday in Da Nang City, attracting the participation of experts and over 400 businesses of rice import-export and supporting services.

Jasmine rice is exported to the European market

In the meeting, Director Nguyen Anh Son of the Import-Export Department (under the Ministry of Industry and Trade) informed that rice export turnover in January reached US$362 million, a rise of 7 percent compared to this time last year.

It is estimated that rice prices will continue their increase this year because supply sources are rarer due to export limits from India. The potential damages caused by El Nino to major rice farming areas in the world add to the concern rice supply shortage.

During the two days of the convention, participants focus on discussing possible trends in global rice markets and the shipping market, the potential influences of current weather and political states on the rice industry.

By Xuan Quynh – Translated by Thanh Tam

Published Date: March 7, 2024