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This year’s rice exports to reach 6.5 million tonnes
Vietnam will export around 3.1 million tonnes of rice in the second half of this year, bringing this year’s total export volume to 6.5 million tonnes, according to the Vietnam Food Association (VFA).
In July, businesses signed contracts to export nearly 795,000 tonnes. By early August, total export volume has reached more than 6.2 million tonnes, nearly 60 percent of which are under commercial contracts.
Purchasing rice for the purpose of temporary stock will come to an end by the end of September 15 when 48 percent of the cultivated areas in the Mekong Delta region will have been harvested.
According to exporters, the price of rice on the world market is low right now but thanks to a rise in domestic prices, the export price of Vietnamese rice has increased to US$375 per tonne.
VFA president Truong Thanh Phong says the farmers’ stock is limited so businesses should actively engage in purchasing rice to maintain prices. Most countries forecast that they will face crop failures due to floods and droughts so they all expect a growing demand for imported rice.
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