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Rice exports reach record high
Viet Nam exported 1.1 million tonnes of rice in January and February, a record amount, according to the Viet Nam Food Association (VFA).
Earnings were US$592 million, a 44.5 per cent increase compared to the same period last year.
This also marks a year-on-year increase of 55.6 per cent in volume.
Farmers are selling rice for VND5,000 to VND5,200 per kilo directly at paddy fields, and dried paddy for VND5,800 to VND6,200 per kilo.
Rice paddy prices were on the rise following the VFA's decision to purchase 1 million tonnes of rice for reserve beginning on March 1.
They were VND50 to VND100 per kilo higher compared with last week.
Recent sunny weather has also created favourable conditions for farmers in the Mekong provinces of An Giang, Dong Thap, Hau Giang, Kien Giang and Vinh Long, as well as Can Tho City.
The weather has allowed them to dry paddy harvested from the winter-spring crop.
Dr. Le Van Banh, Head of the Mekong Delta Institute for Rice Research, said Mekong farmers had harvested 400,000ha of the 1.6 million hectares under the winter-spring crop.
The average yield of this year's winter-spring crop stands at 6.5-7.2 tonnes per hectare.
Mekong farmers expect to harvest 10 million tonnes of paddy from this winter-spring crop.
Banh added that with the current high paddy prices, Mekong farmers could earn profits up to 60 per cent from the sale of paddy in their winter-spring crops.
Le Van Hai, a farmer from Tan Thanh Commune of Can Tho City's Thoi Lai District, said he could earn profits of VND15-VND20 million (US$714-952) from each hectare of his winter-spring crop.
The farmers' increasing use of combine harvesters has made work easier.
"These machines help us harvest the crop and pack the paddy into bags. We just wait for buyers to weigh the paddy and pay us for the crop," said Hai.
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