Food Association to seek higher rice export quota

The Vietnam Food Association said it will ask the government to increase this year’s rice export quota to 5.2 million tons since exports are already closing in on that mark while two more bumper crops are expected.

Exporters have already signed rice export contracts totaling 4 million tons, or almost the whole year’s quota of 4.5-5 million tons, it pointed out. More than half of the contracted volume has been shipped already.

The Association expects around 2 million tons of rice to be harvested in the summer-fall and fall-winter crops, after the recent abundant winter-spring crop.

Vietnam exported 700,000 tons of rice in April, a record since the country started exporting rice 20 years ago.

The volume was almost 27 percent higher year on year, the food association said, and the average price was US$400 a ton.

Vietnam, the world’s second-largest rice exporter, earned about $3 billion from exporting 4.7 million tons of rice last year.

thanhnien, sggp

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