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Vietnam eRice export hit over US$3 billionxported nearly 6.5 million tonnes of rice, worth over US$2.8 billion in the first ten months of 2012, according to the Vietnam Food Association (VFA).

The VFA predicted that Vietnam will export 7.7 million tonnes of rice in this year, overtaking Thailand to become the world’s biggest rice exporter, thanks to increased export orders in the last months of the year. If achieved, it will be the highest export figure recorded in 20 years.

China remained Vietnam’s major importer, with 1.7 million tonnes while other familiar markets, such as Indonesia, the Philippines, and Malaysia remained stable.

The dry paddy price in the Mekong River Delta, is currently around VND5,900 to VND6,050 per kg while long-seed paddy rice is priced at VND6,100 to VND6,250 per kg, that create an opportunity for rice exporting businesses to boost exports.

(Nhan Dan)

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