Rice Exports Reach a Projected US$1 Billion

Vietnam Food Association (Vietfood) chairman Truong ThanhPhong says Vietnam had sold 3.9 million tonnes of rice for over US$1 billion by September 5 of this year and a predicted 4.5 million tonnes for US$1.3 billion by the year’s end.

 

After five years of continuous decline in rice export earnings, Vietnam for the first time earned over US$1 billion from rice exports so far this year. Further, sales are expected to be 4.5 million tonnes in 2005, the highest thus far, and the selling price is expected to average US$256 per tonne, 21.32 percent up against 2004. While a range of Vietnamese major export items, such as textile-garment, leather footwear, and seafood, have faced numerous difficulties in the world market, rice exports have reached the goal four months earlier than that projected for the year.