Vietnam looks for new markets to export rice

Vietnam exported nearly 1,2 million tonnes of rice, earning US$600 million in the first two months of this year, up 63 percent in volume and 50 percent in value compared to the same period last year.

The Vietnam Food Association said this year’s rice exports are facing challenges from changes in the purchasing methods of some traditional markers and rising input costs.

The Philippines, which often imports one-third of Vietnam’s rice output, has changed from competitive bidding to commercial purchasing.

Bangladesh has decided to buy 200,000 tonnes of Vietnamese rice, including 100,000 tonnes of rice parboiling at US$575 per tonne and 100,000 tonnes of 15-percent broken rice at US$530 per tonne.

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