Vietnam’s rice exports may hit record

Vietnam is likely to set a record in rice exports this year due to bumpy crops and falling prices, as estimated by the Food and Agriculture Organisation (FAO).

Vietnam’s rice exports this year may reach 5.4 million tonnes. Previously, in 2005, the country hit a record high of 5.2 million tonnes.

But, even at this rate, Vietnam still ranks behind Thailand, which is scheduled to export 8.3 million tonnes of rice in 2009.

However, the disparity in volume between Vietnam and Thailand this year has been reduced to a lowest level since 2006, mainly due to price fluctuations. On average, the price of Vietnamese rice for export is US$161 per tonne cheaper than Thailand’s.

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