Vietnam aims to cut annual rice exports by 44% to 4m tonnes by 2030

HANOI (Reuters) — Vietnam aims to cut its rice exports to 4 million tonnes a year by 2030, the government said in a document detailing its rice export strategy, down from 7.1 million tonnes last year.

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

The move is aimed at “boosting the exports of high-quality rice, ensuring domestic food security, protecting the environment and adapting to climate change,” according to the government document, dated May 26 and reviewed by Reuters.

Rice export revenue will fall to $2.62 billion a year by 2030, down from $3.45 billion in 2022, the document said.

“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 trader based in Ho Chi Minh City said on Saturday.

The trader said some…