Home » Markets » Rice exports registered at eight million tons: VFA

Local companies had registered to expRice exports registered at eight million tons-VFAort up to eight million tons of rice as of late last month, up nearly 11% year-on-year, but the volume of export contracts cancelled is rather large, at some one million tons, the Vietnam Food Association (VFA) reports.

At a meeting to review the 11-month rice export in HCMC on Tuesday, Truong Thanh Phong, chairman of VFA, said the volume of rice already delivered to foreign buyers had stood at 7.1 million tons as of end-November.

The country has shipped 423,000 tons to China, 311,000 tons to Africa, and 28,000 tons to the Philippines. A majority of the contracts are small in terms of volume.

Local enterprises in November exported 621,000 tons of rice, jumping by roughly 50% year-on-year, with the value of nearly US$290 million, up 24.5% over the year-ago period.

According to Phong, the country’s rice export may reach 7.7 million tons this year, the highest recorded so far.

Vietnam’s outbound rice shipment so far this year has increased by 5.57% year on year, bringing home nearly US$3.16 billion, with the export price averaging out at US$445.56 per ton. Government-to-government contracts assigned to local food traders make up 21% of the total while commercial deals account for more than 78%.

(Sai Gon Times)

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