Vietnam to Export 7 Million Tonnes of Rice in 2012

The Vietnam Food Association (VFA) forecast the country will export 6.5-7 million tonnes of rice of all kinds in 2012, of which 3-3.5 million tonnes will be shipped overseas in the first six months of 2011, said VFA Chairman Truong Thanh Phong.

 

Phong said that because this year’s rice export market will see changes and be volatile, local traders should be realistic and think about a suitable direction for growth.. Moreover, local traders will also face competitiveness from other exporters in Asia and Africa. For these reasons, in the short term, local traders should retain traditional markets and intensify exports of high-quality rice to West-Africa, China and some countries in Asia to occupy the perfumed rice and high-quality 4-5 percent broken rice markets due to a lower price rate than products of the same kind from Thailand.

 

For the VFA, the association now plans to purchase rice for temporary reserve when local rice prices reduce in order that the price will not dip less than VND 5,000 per kilogram.