Vietnam Cos Sign Deals to Export 4.67M Tons of Rice, up 87 per cent On Year
Domestic companies have so far this year contracted to export 4.67 million tons of rice at an average price of US$410 per ton (FOB), valued at US$1.3 billion, up 87 per cent in volume and 51 per cent in value on-year, the Vietnam Food Association (VFA) said.
Of the volume, around 3.2 million of rice had been shipped abroad as of June 10.
Several Mekong Delta provinces last week suggested the government raise this year’s rice export target to six million tons from the current 5.2 million tons as they have large stockpiles and expect two more bumper crops by the end of this year.
The region, which produces about 60 per cent of the national rice crop and supplies 99 per cent of Vietnam’s export rice, will harvest around two million tons of rice in the third quarter.
In the first five months this year, Vietnam reportedly sold more than 2.95 million tons of rice, earning US$1.217 billion, representing on-year rises of 66 per cent and 56.4 per cent, respectively, said the association.
Vietnam, the world’s second-largest rice exporter, earned about US$3 billion from exporting 4.7 million tons of rice last year. (Investment)
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