Rice exports reach nearly 2.86 million tonnes

Vietnam exported close to 2.86 million tonnes of rice by mid-August, earning 1.67 billion USD, according to the Vietnam Food Association (VFA).

Bumper crops in both the North and South promise a total yield of 37 million tonnes of paddy for the year, one million tonnes higher than 2007, which means the government may raise the yearly export target to 4.5 million tonnes.

Domestic businesses have signed contracts to export 3.5 million tonnes of rice in the first nine months of the year.

The VFA has instructed its member businesses to buy around 660,000 tonnes of rice in the Mekong River Delta and speed up the delivery of contracted rice.

According to the Ministry of Agriculture and Rural Development, rice is Vietnam’s fifth largest foreign currency earner, accounting for 20 percent of the total export turnover of the agro-forestry-seafood group.

VNA

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