Rice Export Rises over 76 per cent in Q1

Vietnam is estimated to rake in US$785 million from exporting 1.734 million tons of rice in the first quarter of 2009, posting sharp rises of 76.2 per cent in terms of value and 71.3 per cent in terms of volume against the same period of last year, figured provided by the General Statistics Office (GSO) showed.

 

In March, the country has exported 700,000 tons worth US$315 million, the GSO added.

 

According to the Trade Information Center, Vietnamese 5 per cent broken rice is offered at VND7,250/kilogram, or US$460/ton, up from VND7,100/kilo a week earlier.

 

But the price is still much lower than the US$570/ton price offered by Thais exporters.

 

Meanwhile, 25 per cent broken rice is selling for VND6,250/kilogram, or US$370/ton, up from VND6,100/kilo a week earlier as local exporters are boosting purchase to fulfill already-signed contracts with the Philippines, Cuba and Iraq.

 

Vietnam, the world’s second biggest rice exporter, has so far this year signed contract to export 3.65 million tons of rice, or 73 per cent of its target for 2009.

 

Thailand, the world’s biggest, is estimated to have exported 1.6 million tons of rice in Jan-Mar period, down 36 per cent on year. (GSO March Edition, Vinanet)