Rice export to reach highest ever level

Vietnam’s rice export will reach at least 7.65 million tonnes this year, the highest ever volume, said the Vietnam Food Association (VFA) at a meeting in Ho Chi Minh City on Dec. 4.

According to VFA, in the first 11 months of 2012, Vietnam shipped 7.1 million tonnes of rice, up 5.5 per cent over the same period of 2011 and almost equivalent to the figure of the entire 2011 (7.128 million tonnes).

With an average price of $445.56 per tonne, down $43.3 against the level in the same period last year, the export has brought $3.2 billion to the country. It means Vietnamese farmers produced more rice but they earned less profits and Vietnam also received less foreign currency from the export.

VFA Chairman Truong Thanh Phong said in the context of declining prices of almost all agricultural products in the world and increasingly fierce competition between agricultural producers, the growth in rice export is a highlight of the Vietnamese agricultural sector.

Source VIR/VNA