HANOI Vietnam plans to reduce its rice exports to 4 million tons a year by 2030, from 7.1 million tons last year.
After India and Thailand, Vietnam is the world's third largest rice exporter.
The government's document dated May 26 aimed at boosting the exports of high-quality rice, safeguarding domestic food security, protecting the environment and adapting to climate change, according to Reuters.
By 2030, Rice export revenue will fall to $2.62 billion a year, down from $3.45 billion in 2022.
Vietnam plans to diversify its rice export markets to reduce its dependence on any single country, the report said. Vietnam's rice market has been the biggest in the Philippines, accounting for 45 percent of its shipments last year.
The document said 60 percent of Vietnamese rice exports will be shipped to Asian markets, 22 percent to Africa, 7 percent to America, 4 percent to Middle East and 3 percent to Europe by 2025.
Vietnam's government said it will focus on the production of high-quality, fragrant and glutinous rice, while reducing the production of low-quality grains by 2025 to 15 per cent of total output and 10 per cent by 2030.