Vietnam rice exports reach record 7.7 mln tons

Vietnam rice exports reach record 7.7 mln tons

Vietnam’s rice exports in 2012 has reached a record high of 7.72 million tons, surpassing the 7.7 million ton target it set earlyier last year, the Vietnam Food Administration has reported.

This is the mosthighest quantity of rice the country has ever exported in a year, but the value it gained from the shipments has dropped by US$50 million compared to 2011 due to the slumping exporting prices.

“Vietnam has set a new record in rice exporting thanks to the increase of rice production in 2012, which is 1.3 million tons higher than a year earlier,” the VFA commented.

Meanwhile, Thailand has lost its three-decades-old title as the world's top rice exporter last year, falling behind India and Vietnam, according to the Bangkok Post.

While Vietnam has exported a record 7.7 million tons, India's rice exports last year exceeded 9.5 million tons, the newspaper said, citing US Department of Agriculture figures.

The main cause for Thailand’sthe lost title lost is that Thai rice is exported at $100 to $200 a ton more than what other countries charge, leavingmaking it unable to find as many overseas buyers as it used to, the Bangkok Post said.

Thailand exported 6.9 million tons in 2012, down 35.5 percent from the 10.7 million tons it shipped in 2011, according to the latest figures of the Thai Rice Exporters Association and the Commerce Ministry. The crop’s Eexport value in 2012 also dropped by 20 percent, to $4.73 billion.o\

tuoitrenews