On March 12, according to information from the Ministry of Industry and Trade of Vietnam in Algeria and Senegal, opportunities are opening up for Vietnamese businesses to export pots to this potential market.
According to Vietnam's trade deal in Algeria billion tons of Senegal, this is a market that consumes many cylinders with an import volume from 900,000 to 1 million tons, mainly 100% cheap cylinders.
In 2023, Vietnam's Binh exports to this market will reach 12,392 tons, with a turnover of 5.35 million USD (up 215%). In the first 2 months of this year, data from the General Department of Vietnam Customs showed that Vietnam exported 414 tons of cotton to Senegal, with a turnover of 307,820 USD.
In the context of scarce supply and Senegal is preparing for the presidential election in 2024, it is likely that the country will increase imports of broken rice from Asia. In March 2023, India allowed private businesses to export 250,000 tons of broken rice to Senegal.
This decision is seen as India's move to support some West African countries even though the country has issued a ban on the export of 100% broken rice and a 20% tax on the export of other types of rice since September. -2022.
During the discussion on agriculture at the World Trade Organization (WTO) meeting in February 2024, in order to diversify supply sources, Senegal's Trade Minister had a discussion with his Cambodian counterpart about importing rice imports from the Southeast Asian country.Since 1995, Senegal has eliminated the state company's monopoly on rice imports and completely liberalized the import of this food. For many years, the Government of Senegal has implemented a policy of developing wet rice cultivation to ensure food self-sufficiency, but only 25-30% can be met.
The country's Statistics Center said that in 2023, Senegal's rice imports will reach 1.3 million tons, with a turnover of more than 500 million USD, down 12.4% in volume and nearly 13% in value compared to 2022. Main supplier countries include India, Thailand, China, Pakistan, Uruguay, Vietnam...
In addition to serving the domestic market of more than 18 million people, Senegal also imports rice to re-export to neighboring countries.
