However after the global food crisis in 2008, Vietnam’s Ministry of Agriculture and Rural Development set up a strategy to balance between rice production and consumption. Some local agricultural researchers even proposed a macro policy for Vietnam on the prospect of international rice exports. In recent years, Vietnam has faced tough competion from other leading rice exporting countries like India, Paksitan, Bangladesh, and now Myanmar.
According to the Vietnam Food Association (VFA), by the first half of 2014, Vietnamese exporters finalized contracts of 3.6 million tonnes of rice export. More exporting agreements are signed after the VFA decided to scrap the minimum export price for Vietnam 5% broken rice.