April 29 2009 (FoodBizDaily) -
Vietnam's General Statistics Office said on Tuesday that Vietnam’s rice exports this year reached nearly 2.5 million tons, amounting to 1.16 billion U.S. dollars, which is a rise by 50% in volume and 44% in value compared to last year.
According to Vietnam Food Association, out of the target five million tons this year, Vietnam is already on contract to export four million tons. The association, however, said that the export prices are falling despite these encouraging signs amid the global economic slump. The rate fell by USD26 to USD406.5 a ton on average in April, which is likely to fall further when competing with India and Thailand. The association may seek the government’s approval to export an additional 200,000 tons of rice this year, raising the total volume to 5.2 million tons.