Rice exports to reach record high
(VOV) - Vietnam is likely to export a record volume of 7.5 million tonnes of rice this year, up 4 percent over 2011, according to the Vietnam Food Association (VFA).
VFA says businesses have so far signed contracts to sell 7.2 million tonnes to foreign importers, and the volume of rice in stock is more than 1.7 million tonnes, big enough for domestic use and export.
A 40-percent fall in rice exports in the first quarter prompted Vietnam to lower its rice export volume set for this year to 6.5 million tonnes, but the export level has picked up in the following months.
By October 11, businesses had delivered 6.018 million tonnes to their importers at an average price of US$440 per tonne.