Rice exports rise to new heights

Rice exports rise to new heights

Viet Nam's rice exports are on track to achieve a record volume of 7.7 million tonnes, nearly 600,000 tonnes higher than last year, the Viet Nam Food Association (VFA) reported at a conference on rice production and consumption in HCM City yesterday.

Domestic exporters sold rice at an average price of US$445.56 per tonne. Volume increased by 5.5 per cent but the average price declined by $43.3 per tonne in comparison with the same period last year.

The VFA said farmers had to work harder but enjoyed lower interest rates.

Truong Thanh Phong, the VFA's Chairman, said Viet Nam had made great strides in improving rice quality. High-quality rice such as broken, glutinous and fragrant rice accounted for 59 per cent of the export volume in the first 11 months of this year, an increase of 78 per cent compared with the same period last year.

According to the VFA, a Food and Agriculture Organisation report showed that the global rice trade is estimated to reach 37.5 million tonnes in 2013, the highest level ever. Thailand, one of the top rice exporting countries in the world, is expected to recover its rice exports with an estimated volume of 8 million tonnes next year.

Meanwhile, India may reduce its rice export to 7.25 million tonnes in 2013 because its productivity has declined while domestic demand increases

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